22nd Century Group Inc (NYSEAMERICAN: XXII) has pronounced the addition of more strategic partnerships. It is a business decision to cooperate with expert commercial-scale plant breeders Folium Botanical and Sawatch Agriculture. Analysts applaud the company’s collaboration with the two northern hemisphere breeders, outlining that it will help improve 22nd Century’s breeding capabilities.
Progressive collaborations and their impact
Its collaboration with Aurora Cannabis was a great move, considering the positive impact on 22nd Century’s breeding capabilities. There are plans underway to bring onboard another southern hemisphere-based breeder that will be announced shortly, and all these moves are for good. The company stares at attaining year-round growing capabilities.
The chief executive officer of 22nd Century Group, James A. Mish, supports the latest moves, terming the addition of the top-class alkaloid-based plant breeding specialists a good thing. He believes that is what it takes to help the company scale higher in production activities. The leader reveals that they have been seeking out ways to complement their capabilities in their upstream value chain and are pretty close.
Working on improving portfolio
The company’s four breeding partnerships happen to be outstanding additions to its portfolio of elaborate plant science capabilities. It is about facilitating positioning the company accordingly to meet the rising market demand for improved, stable genetics.
Mish opines, “We are giving growers a competitive advantage by substantially improving crop yield and optimizing the time that it takes to develop new lines to a two-year cycle, a reduction from the 7 to 10 years that would typically be necessary to create new lines using our proprietary capabilities.”
22nd Century Group Inc seems excited with the new lines progressing in development and seeks to monetize all of them. In addition, it seeks to boost its yields significantly and count on its complete upstream hemp/cannabis capabilities.