Front Range Biosciences, an agricultural biotech company that specializes in high-value crops such as cannabis, has raised $3 million in funding.
The funding will go to scaling the company’s processes and an expansion into California and other states where cannabis use is legal. The company currently operates out of Colorado.
Front Range Bioscience uses tissue culture cloning to solve for degradation of plants over cycles of harvests, which include disease, mold, pesticides, pests, etc. By “cleansing” the clones, the company will be addressing what Cornerstone sees as the most pervasive issue in the legalized cannabis industry that will affect growers in the future – strong downward pressure on wholesale flower prices amidst increasing competitive pressures. Increased legalization in new states, expansion of programs in existing states, and international legalization and decriminalization, sets up a scenario for dramatically increased manufacturing capacity and as such, wholesale margins will be a big concern for producers. Michael Gruber states that efficient cost producers will win, and Front Range will be one of the companies providing critical tools to enable a cultivator’s success.
The company is also mapping cannabis genetics to develop relevant traits in plants like disease resistance and high yields of oil and resin.
