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Valens Groworks to use Thermo Fisher Scientific’s instruments to study cannabis

The collaboration will showcase the level of Valens’ scientific expertise, CEO Tyler Robson says

A greenhouse with marijuana plants
A Valens subsidiary holds a standard processing and standard cultivation license under Canada’s Cannabis Act

Valens Groworks Corp (CNSX:VGW) (OTCMKTS:MYMSF) said Thursday that it is teaming up with Thermo Fisher Scientific Inc (NYSE:TMO) and will use the company’s instruments to study cannabis.

Kelowna, British Columbia-based Valens said in a press release that the collaboration’s findings will be promoted in application notes, publication of peer-reviewed articles, conference presentations and webinars.

READ: Valens Groworks shares advance as it strikes deal to process dried pot for GTEC Holdings

"This research collaboration showcases the level of expertise of our scientific personnel and their drive to lead the industry in the analysis of cannabis,” Valens CEO Tyler Robson said in a statement.

Keith Bisogno, corporate senior director for market development at Waltham, Massachusetts-based Thermo Fisher, added that “our collaboration with Valens will allow us to improve workflows and validate methods."

Valens subsidiary Valens Agritech holds a standard processing and standard cultivation license under Canada’s Cannabis Act. The subsidiary Valens Labs is a licensed ISO 17025- accredited cannabis testing lab providing analytical services.

Separately, the company said it has granted 50,000 options to a consultant to purchase common shares of the company at C$1.25 per share, expiring November 27, 2020. The options are subject to regulatory approval.

Shares of Valens climbed C$0.08 to C$1.28 in Wednesday’s Canadian trading. They advanced US$0.07 to US$0.97 on the OTC market. Thermo Fisher gained US$5.49 to US$247.40 in New York trading.

Contact Dennis Fitzgerald at [email protected]

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Price: 2.37 CAD

Market: TSX
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