PURISSIMA ANNOUNCES MULTI-YEAR PROCESSING AND DISTRIBUTION PARTNERSHIP WITH OPEN BOOK EXTRACTS

Purissima is the First Biotechnology Company to Achieve Commercial Scale Production Of Minor Cannabinoids Using Algae Fermentation

SAN FRANCISCO, July 19, 2022 /PRNewswire/ -- Purissima, a leading, next-generation, biotechnology health and wellness company, announced today an exclusive, multi-year processing and distribution partnership with Open Book Extracts (OBX), a total solution provider for high quality cannabinoid ingredients, concept-to-market formulation services, and finished goods manufacturing for the industry's leading brands. This collaboration also marks Purissima as the first company to achieve commercial scale production of minor cannabinoids using Purissima's proprietary algae-based fermentation platform. Kicking off production in July 2022, the compounds are proposed to be available to manufacturers and sold to consumer brands before fall 2022.

"This exclusive partnership validates Purissima's capability to lead the industry forward in unprecedented research, fermentation scalability, and heightened minor cannabinoid access by consumers," said Robert Evans, Purissima Co-Founder and Chief Business and Strategy Officer. "The partnership with Open Book Extracts will allow our sustainably produced, safe and therapeutic compounds to create a new landscape of cannabinoid-infused products for companies and consumers alike."

Purissima and OBX are both leading players in their respective fields, and this partnership is mutually beneficial for the two industry frontrunners to forge a new path in sustainability and cannabinoid production. Rooted in groundbreaking science and high-quality, safe products, Purissima's technology platform offers OBX the opportunity to manufacture and deliver first of their kind natural ingredients and products to their customers.

George Rudenko, Purissima Co-Founder, Chief Executive and Chief Technology Officer added, "Purissima's multi-patented technology has proven that bioengineering plant-based ingredients and medicinal compounds, such as in the case of minor cannabinoids, is indeed a reality and will provide unparalleled development and amplification of rare and hard to find compounds. Through the commercialization of our first compounds, Open Book Extracts and Purissima can jointly redefine how cannabinoids are sustainably sourced and their diverse health and wellness applications are realized at commercial scale."

"Open Book Extracts thrives on aligning with companies that propel the cannabinoid industry through technological innovation and science-backed efficacy," said Dave Neundorfer, Chief Executive Officer of OBX. "We look forward to working with Purissima to introduce this technology to the market."

This partnership is the first step to bring Purissima's library of 70+ compounds to commercial scale and market. Minor cannabinoids are highly sought after compounds that have garnered significant consumer interest based on their strong antibacterial, antimicrobial, and anti-inflammatory properties. Some studies even indicate that minor cannabinoids have stronger anti-inflammatory properties than CBD. For more information on this partnership and to stay up to date on Purissima corporate news, please visit www.purissima.bio.

Purissima, Inc. is revolutionizing the way companies source and use plant-based ingredients, through the development and production of commercially viable, microalgae biotechnology. Purissima's mission is to provide the world access to high-quality, pure, safe, and sustainable ingredients for products that improve the quality of life for millions. Purissima has sustainably and effectively biosynthesized 70+ natural ingredients, including those rare or hard to access, at a fraction of the cost and without adverse environmental, varietal or supply chain impact. The brand's patented and proprietary biotechnology advances critical plant-derived health + wellness solutions while preserving Earth's biodiversity and natural resources.

Headquartered in Roxboro, N.C., Open Book Extracts is an NSF cGMP-certified manufacturer of premium cannabinoid products, aiming to be the industry's true north by delivering premium products, exceptional service, and industry-leading transparency. With control of the entire supply chain, a state-of-the-art extraction and manufacturing campus near North Carolina's Research Triangle, proprietary refinement and conversion methods backed by a growing IP portfolio, and a team of PhD chemists and seasoned business leaders, OBX is the trusted partner for global brands seeking to enter the marketplace. OBX offers concept-to-market formulation and manufacturing services, leveraging a broad portfolio of cannabinoid ingredients, leading water soluble technology and unique delivery mechanisms to help its clients bring to market a wide range of finished goods, from core softgels, capsules, and gummies, to orally dissolving tablets, tongue strips, and aerosol sprays.

SOURCE Purissima