Clever Leaves Holdings Inc. (NASDAQ: CLVR) will create a joint venture with a specialty pharmaceutical company Biopharmaceutical Research Company (BRC) to study the DNA sequence variation of three Clever Leaves’ cannabis cultivars.
The new study is part of the company’s recently launched U.S.-focused research initiative, Project Change Lives, under which the company will contribute up to $25 million in retail value of medical cannabis products to any eligible U.S. organization to help advance scientific research into the potential medical benefits of cannabinoids.
The Study Details
The multinational cannabinoid operator noted that the extraction and analysis of DNA to elucidate genetic variants taken from various genetic lines of Cannabis sativa will be led by the University of California, Davis through a research sponsorship from BRC.
This makesUC Davis the first major research institution to participate in the investigation of Clever Leaves’ Colombian and Portuguese, pharmaceutical-grade cannabis as part of Project Change Lives.
Under the project, Clever Leaves will supply BRC with three of its cultivars for analysis at their facilities. In addition, UC Davis scientists will also test new ways to extract RNA from dried material, and if possible they will analyze the data to quantify global gene expression.
The aim behind the research is to create a foundation for future usage of the genetic variation of Cannabis sativa to create novel and unique medicinal marijuana for new pharmaceuticals.
“Moreover, analysis of the completed data will reveal the correlation between specific genotypes of cannabis and the biochemical phenotypes for cannabinoids and terpenes,” the company noted.
Kyle Detwiler, CEO of Clever Leaves said he and his company were honored to work with UC Davis scientists.
“UC Davis consistently ranks as one of the top plant sciences programs in the world and shares our commitment to applying a deeper scientific rigor to cannabis research in order to further our understanding behind the potentially life-saving applications of cannabinoid medicine,” Detwiler stated. “We are truly excited that UC Davis has become the first US research institution to align with Project Change Lives, and we look forward to the expansion of the initiative.”
The Price Action
Clever Leaves shares were trading 3.34% lower at $9.26 per share at the time of writing.
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