(RTTNews) - Aurora Cannabis Inc. (ACB, ACB.TO) Tuesday announced the confidential settlement with Canada-based Willow Biosciences Inc., resolving the ongoing patent litigation between the two parties.
Further, Aurora affirmed its commitment to enforce and defend intellectual property rights.
Miguel Martin, Chief Executive Officer of Aurora noted that the negotiated settlement ensures its Canadian cannabis-related patent rights.
Aurora, serving both the medical and consumer markets, commenced a patent infringement action in July 2021, alleging that Willow's biosynthetic process for synthesizing cannabinoids infringed Aurora's exclusive rights to patents co-owned by the University of Saskatchewan and the National Research Council.
The technology of the asserted patents was invented by Anandia, co-founder and former chief science officer at Aurora, Jonathan Page, and his colleagues, identifying key enzymes and corresponding genes in the biosynthetic pathways of cannabis plants.
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