Intrexon Corporation XON announced a $100 million partnership with Surterra Wellness to advance its cannabinoid production.
The companies will join forces to push forward Surterra's cannabinoid production at a cost-effective, industrial scale utilizing Intrexon's proprietary yeast fermentation platform.
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Earlier this year, Intrexon entered a strategic licensing agreement with Surterra Wellness to utilize its plant propagation platform, Botticelli. Surterra is using Intrexon’s technology for the production of specific cannabis cultivars in the Florida market
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Cannabinoid is part of a class of diverse chemical compounds that acts on cannabinoid receptors, also known as the endocannabinoid system in cells that alter neurotransmitter release in the brain. Cannabinoid-producing yeast may also make it easier to study cannabis.
Intrexon shares traded higher by 12.5% to $8.54 at time of publication.
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Intrexon, Surterra Wellness Collaborate On Plant Propagation For Cannabis Cultivation
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