BreedIT Corp. (OTC: BRDT), a developer of agro-breeding solutions for plant breeders and researchers, has officially made its entry into the multi-billion dollar cannabis industry. Through its partnership with Sheifa Le’Haim, the company completed the first step in the implementation of its partnership to breed and own unique and hybrid cannabis seeds utilizing its iBreedIT solution.
iBreedIT is a package of software solutions that assist breeds and researchers in planning, managing, and analyzing breeding data in order to ensure quality and consistency. By leveraging the software, the company will be able to breed specialized strains with optimum amounts of THC or CBD and/or plants that may be resistant to certain pathogens, viruses or pests.
“The joint venture [is] working towards the development, ownership and ability to profit over unique cannabis seeds,” said Itschak Shrem, Chairman of BreedIT Corp. “The development and completion of the structuring of the breeding program in such a timely and efficient manner gives us even greater confidence that this partnership will be a success.”
Companies like Monsanto Co. (NYSE: MON) and Agrium Inc. (NYSE: AGU) make billions of dollars licensing their patented seeds to farmers. In fact, over 90% of all maize, soybean, cotton, sugar, beet and canola plants in the United States use these companies’ genetically modified glyphosate-resistant (or Roundup-resistant) seeds that make it possible to use pesticides without hurting the crops.
BreedIT is betting that similar dynamics will take hold in the cannabis industry. Aside from pest control, intelligently breeding cannabis plants can help optimize the ratios of THC and CBD depending on the end use. For example, medical cannabis users in many states are prohibited from high-THC strains since CBD is the active ingredient in producing the improved patient outcomes.
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