TruTrace Technologies Inc., creator of the first fully-integrated blockchain platform that registers and tracks intellectual property for the cannabis industry, and Sigma Analytical Services, a provider of comprehensive testing and analytical services for the cannabis industry, today announced that the two companies have entered into a letter of intent (“LOI”) to establish a strategic working relationship.
Pursuant to the LOI, TruTrace plans to include Sigma Analytical as a genetics verification and testing partner in its blockchain-secured traceability ecosystem, and the parties will explore development and integration opportunities to rapidly expedite and optimize testing processes in the cannabis and hemp industries.
Sigma Analytical is also expected to participate in the TruTrace Technologies and Shoppers Drug Mart medical cannabis verification pilot program (the “Pilot Program”) as a testing partner. The Pilot Program, which is designed to increase transparency, interoperability and product identification within the medical cannabis industry, uses TruTrace’s StrainSecure™ technology as a central hub for identity management, asset tracking, validation, and product authentication.
“Sigma has been advancing the understanding of cannabis chemistry and has established a global scientific network of pioneers to facilitate standardizing testing and quality assurance in this new and promising field of science,” said Ashton Abrahams, Chief Operating Officer of Sigma Analytical. “Working with TruTrace and Shoppers Drug Mart to track and trace the process and products will have significant synergy with what Sigma is doing and will be valuable to the fast-growing cannabis industry.”
“We are pleased to add Sigma Analytical as a partner in our StrainSecure ecosystem,” said TruTrace Technologies CEO Robert Galarza. “The Sigma team has established a track record of innovation in the cannabis industry and we look forward to collaborating with them as we continue to build out our platform and processes.”
As a full-service testing and research GMP-compliant laboratory, Sigma Analytical offers comprehensive testing and analytical services, as well as R&D, and consulting in cannabis, hemp and derived products across North and South America. Equipped with the most advanced analytical instruments and validated SOPs, Sigma possesses a tremendous amount of acquired know-how and expertise in the areas of cannabis and hemp sample preparation, processing, digestion, method development, and analysis.
Under the StrainSecure™ program, the TruTrace team collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the program.
TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace’s technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis.