New Joint Venture Aims to Unlock Cannabis Health and Wellness Solutions
Vancouver, British Columbia–(Newsfile Corp. – September 7, 2021) – Peregrine Precision Systems Inc. (PPS), an intellectual property technology company focused on enabling the cannabinoid industry to achieve its global potential, announces a new joint venture that aims to commercialize chemically synthesized rare cannabinoids and other natural ingredients.
Jake Magolan, PhD, of McMaster University, and Synmedix have partnered with PPS to launch Naturally Synthetic Inc. This new start-up company will focus on leveraging its patent-pending processes to develop scalable chemical synthesis processes to manufacture rare cannabinoids and related phenolic natural products for the global R&D, pharmaceutical, and CPG communities.
“Through our collaborative research and strategic industry partnerships, we hope to unlock health and wellness solutions. We are all very passionate about enabling cannabinoid-based therapies to improve the quality of life for those suffering from a broad array of ailments,” said Sean Mclean, CEO of PPS.
The lack of accessibility of rare cannabinoids via traditional biomass extraction methods remains challenging and constrains the growth of the cannabis industry. “Our recently discovered synthetic chemistry technologies have enabled an opportunity to access many valuable rare natural cannabinoids in high purity and low cost relative to competitors in this market,” said Jake Magolan, Associate Professor of Biochemistry and Biomedical Sciences at the University.
To date, the Magolan Lab at McMaster has demonstrated the synthesis of several cannabinoids at bench-scale in >99% purity and with low input costs. PPS is confident that the most reliable, scalable, low-cost, and environmentally sustainable way to manufacture many cannabinoids in Active Pharmaceutical Ingredient (API) quality will be through Naturally Synthetic Inc.’s patent-pending synthetic technologies.
In the past six years, PPS has enabled the creation of award-winning ingredients in addition to designing and manufacturing industry-leading proprietary processing technologies for the cannabis and hemp industry. With this experience and knowledge, they plan to build commercial scale process-technology for the production of chemically synthesized cannabinoids created through this joint venture.
“McMaster is excited that Magolan’s technology has been licensed into this new venture and that the university’s research expertise will continue to play a critical role going forward. We are pleased that Naturally Synthetic has established such a strong strategic partnership with PPS that will accelerate bringing this game-changing innovation to market and reduce the environmental footprint for manufacturing and lower the cost of cannabinoid-based therapeutics for patients,” said Gay Yuyitung, executive director of the McMaster Industry Liaison Office at the university.
Leading industry research analysts have predicted an enormous total addressable market in this space. This joint venture presents a unique opportunity for investors. PPS and its partners are confident that this new venture will benefit consumers, facilitate the entry of global pharma and CPG companies and accelerate industry growth through the introduction of scalable high-quality ingredients and increased profitability. For Media and Investor Relations, please contact [email protected].
About Peregrine Precision Systems Inc.: (PPS) is an intellectual property (IP) technology company focused on enabling the global cannabinoid industry to achieve its global potential by unlocking health and wellness solutions. Since launching in early 2020, PPS has established four synergistic business units; MRX Technologies (processing machinery), MRX Refineries (hemp-derived ingredient extraction), The Bottling Company (contract development and manufacturing organization) and Naturally Synthetic Inc. (chemically synthesized cannabinoids and active pharmaceutical ingredients). Leveraging their unique intellectual property and partnerships PPS aims to become the leading enabler and supplier of the highest quality cannabis and hemp products.
*PPS has a binding agreement to acquire MRX Technologies and MRX Refineries
About the Magolan Lab at McMaster University:
Associate Professor Jakob Magolan holds the Boris Family Endowed Chair of Drug Discovery at McMaster University. His research laboratory pursues a wide portfolio of interdisciplinary drug discovery programs together with fundamental discovery research in the field of synthetic organic chemistry methods development.
About Synmedix:
Synmedix is a new Canadian biotechnology company founded by Dr. Eric Brown of McMaster University, a world leader in antibiotic drug discovery. The Company’s mission is to deliver novel therapies that can stem the tide of drug resistance. One of the firm’s key programs focuses on the development of synthetic cannabinoids that exhibit potent antibiotic activity against key bacterial pathogens.
Peregrine Precision Systems Inc.
Media and Investor Relations:
[email protected]
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