Amyris jumps 20% after CBD partner LAVVAN hires former MedReleaf exec as CEO
Shares bio-science firm Amyris are soaring in early trading after its cannabinoid partner LAVVAN announced announced that Neil Closner, formerly of MedReleaf, has been appointed its new CEO. Joining Closner are several key members of MedReleaf's former leadership team who were responsible for its groundbreaking achievements and success. Former LAVVAN CEO, Etan Bendheim, will become President of the company. LAVVAN, in its collaboration with Amyris, will produce cannabidiol ,CBD,and other cannabinoids through fermentation-based technology in food-grade manufacturing facilities. LAVVAN's processes will ensure product purity and consistency for commercial-grade, cannabinoid-based products, while minimizing production costs. Shares of Amyris are up 21% or 61c to $3.48 in midday trading.