Proprietary manufacturing process, CannSynthesis®, produces cannabinol oil at >98% purity with no detectable THC

First company to manufacture cannabinol using chemical synthesis at commercial scale

TAMPA, Fla., Oct. 17, 2019 (GLOBE NEWSWIRE) -- Teewinot Life Sciences Corporation (“Teewinot” or the “Company”), a global leader in the biosynthetic production of cGMP cannabinoids and cannabinoid analogs as new chemical entities, today announced the availability of high purity (>98%) CBN (cannabinol) in kilogram quantities produced using its CannSynthesis® chemical synthesis process. With this announcement, Teewinot has become the first company capable of manufacturing cannabinol using chemical synthesis at commercial scale for individual purchase or under supply agreements.

In addition, Teewinot has developed biocatalytic processes using the CannSynthesis® technology platform to produce the acid and varin forms of rare cannabinoids. These forms have varying physical and chemical properties, and pharmacological attributes that make them uniquely suited to specific therapeutic uses across a wide range of medical needs, and optimal for different types of drug formulation and delivery modalities. CannSynthesis® can produce the acid and varin forms of THC, CBD, CBN, CBL, CBG and CBC.

“CBN has several known health benefits and is a key ingredient in a growing range of consumer products,” said Mike Luther, Chief Executive Officer of Teewinot. “We believe we are in the right place at the right time with a unique manufacturing technology that can meet rapidly-growing demand.”

Steve Orndorff, Ph.D., Chief Operating Officer of Teewinot, further stated, “With our CannSynthesis® biocatalytic manufacturing process, we can produce synthetic, stable acid and varin forms of rare cannabinoids with the purity and consistency required by the consumer and pharmaceutical industries. These capabilities will allow us to not only produce CBN, but to also build a world-class therapeutic pipeline that creates significant opportunities for collaboration and licensing agreements with leading pharma and biotech companies. We continue to expand our portfolio of rare cannabinoids that we can manufacture and develop New Chemical Entity derivatives for our drug discovery and development effort.”

Teewinot currently has 21 issued patents globally and more than 50 applications pending. Issued patents are in key jurisdictions and cover many aspects of the company’s proprietary CannSynthesis® discovery and manufacturing process, including the biosynthesis of cannabinoid analogs and prodrugs and their use as therapeutic agents. The company continues to pursue additional patent claims to further strengthen its intellectual property protection.

About CannSynthesis®CannSynthesis® is the world’s only patent-protected biocatalytic process for the production of rare cannabinoids from bench to cGMP commercial scale. It utilizes a modular approach for bioreactions to produce specific rare cannabinoids at high titer and purity with high efficiency and speed. The biocatalytic process is complemented with a variety of proprietary chemical transformations to convert the biologically-derived cannabinoids into other rare cannabinoids. Today, this platform allows for Teewinot to deliver the widest and most diverse range of cannabinoids for the growing market demand.

About Teewinot Life Sciences

Teewinot Life Sciences is a global leader in the biosynthetic development and production of cannabinoids and their derivatives for consumer and pharmaceutical products. The Company is leveraging a unique integrated biocatalytic and chemical synthesis platform, that allows the production of an unprecedented range of cannabinoids and cannabinoid NCEs from bench to cGMP manufacturing. This platform supports Teewinot’s drug discovery programs as well as industry partnerships for pharmaceutical and consumer product development. Teewinot is revolutionizing the synthetic cannabinoid space with its cost-effective, commercial scale approach to meet the global growing demand for cannabinoid-based products to address unmet health, wellness, and therapeutic needs.

Forward Looking Statements

Statements made in this press release that look forward in time or that express beliefs, expectations or hopes regarding future occurrences or anticipated outcomes or benefits are forward- looking statements. A number of risks and uncertainties, such as risks related to product development and commercialization efforts, ultimate clinical outcomes and benefit of the Company’s products, market acceptance of the Company’s products, intellectual property protection, competitive product offerings, adverse changes in the public perception of cannabis, adverse changes in applicable laws and adverse changes in the application or enforcement of current laws, could cause actual events to differ from the expectations indicated in these forward-looking statements. You are cautioned not to put any undue reliance on any forward-looking statement. This press release is neither an offer to sell nor a solicitation of an offer to purchase any particular securities. Any such offer or solicitation will be made only pursuant to definitive legal agreements prepared specifically for such purpose. An investment in the Company’s securities entails significant risks and is suitable only for sophisticated investors who can afford a loss of their entire investment; no assurance can be given that investment objectives will be achieved. In considering the information contained herein, you should bear in mind that past performance is not necessarily indicative of future results; there can be no assurance that the Company will achieve comparable results or that any projected returns will be met. The Company does not assume any obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events, or otherwise.

Contact: Bruce MackleLifeSci Advisors, LLCbmackle@lifesciadvisors.comSource: https://www.globenewswire.com/news-release/2019/10/17/1931132/0/en/Teewinot-Announces-Availability-of-Cannabinol-for-Commercial-Cannabinoid-Market.html