RE:Any comments? Why are down in this sector? Lawsuit.....
Corporate Update
A claim alleging infringement of Canadian Patent No. 2,770,774 was served on the Company. Willow is confident the claim is entirely without merit and intends to vigorously defend it.
The patent relates to the aromatic prenyl transferase CsPT1 from cannabis. Willow does not utilize CsPT1 in any of its development programs or commercialized processes. Willow has applied its in-house cannabis genomic databases and enzyme engineering technologies to the discovery and development of novel, proprietary genes for biosynthetic production of cannabinoids in yeast. Willow has developed distinctly different, proprietary genes for the steps within the primary cannabinoid pathway and filed multiple patent applications relating to key genes within its developed cannabinoid pathway.
Willow has developed a proprietary cannabinoid biosynthetic pathway for producing ultra-pure cannabinoids that does not involve CsPT1.