Colorado-based hemp research leader ebbu, Inc. entered into an agreement to have its assets acquired by the Canopy Growth Corporation. Canopy Growth’s existing core verticals and the verticals of their core companies are expected to benefit from ebbu’s R&D advancements and Intellectual Property (IP). Additionally, ebbu’s IP portfolio contributes to clinical formulations performed and executed through Canopy Growth’s Canopy Health Innovations subsidiary.
Canopy Growth’s existing hemp operation in Saskatchewan is bolstered by ebbu’s IP, allowing Canopy Growth to reduce CBD production costs, a very sought-after cannabinoid in medical and wellness spaces. This technology platform can also produce other cannabinoids at scale, as well as discover potential in elements of the cannabis plant that aren’t well understood.
This recent acquisition aligns with Canopy Growth’s business strategy in the United States that includes following all applicable federal laws to the letter. Ebbu’s assets and personnel will strictly be used for R&D only, and no production or sale of products that come from this R&D unless it is federally legal to do so.
“Beyond the technological edge this transaction provides, we are pursuing this acquisition because Canopy shares ebbu’s core ethos of building consumer trust. We collectively believe consumer trust is achieved by driving the scientific agenda needed to build predictable, repeatable outcomes and layering on brand power,” said Canopy Growth’s President and Co-CEO, Mark Zekulin.
