Willow Biosciences expands on plans to launch in the Canadian market
The Company believes there is significant demand from consumer product manufacturers looking for a consistent, high-purity, odorless, flavourless THC.
VANCOUVER — Willow Biosciences Inc. announces that it has advanced its work on its proprietary yeast strain for production of Tetrahydrocannabinol (THC), and plans to commercially launch in the Canadian market.
“We are excited to announce our proprietary THC yeast biosynthesis production process for launch in the Canadian market,” said Trevor Peters, Willow’s President and Chief Executive Officer. “Our platform technology enables us to produce a variety of cannabinoids and leverage our previous work on CBG. From conversations with prospective customers in Canada, we believe that there is significant demand for consistent, high-purity THC. The flavourless, odorless attributes of our finished product make it suitable as a core ingredient for the cannabis 2.0 market in Canada. There is also strong demand for a more sustainable and environmentally friendly way to produce THC. Our manufacturing process is 50 to 500 times more efficient than indoor cultivation and is the next evolution of sustainable cannabinoid manufacturing.”
The Company’s Canadian based research and development group has developed a proprietary yeast strain and process for the production of THC and is working toward a pilot scale run later this year. While there is already a well-established market for THC in Canada, the Company believes there is significant demand from consumer product manufacturers looking for a consistent, high-purity, odorless, flavourless THC ingredient like Willow’s for the 2.0 market, which consists of vapes, edibles, beverages, concentrates and topicals. The THC market for 2.0 products is already a multi-billion-dollar, multi-ton addressable market for Willow to sell into. The Company has identified a development partner for product isolation, purification and scale up to pilot and is in talks with several manufacturing companies in Canada to serve the adult-use market.
The Company is carefully watching the developments in the United States surrounding potential legalization and will be ready to react to any positive regulatory changes should they arise.