Aurora Cannabis (ACB - Get Report) is stepping into the octagon with mixed martial arts federation Ultimate Fighting Championship to partner on a "multi-year, multi-million dollar, global partnership" that will look to better understand the relationship between CBD products and athlete wellness and recovery.
The research will be conducted at the UFC's Performance Institute in Las Vegas, where more than 400 athletes over the past two years have been studied.
"Since the day we opened the Performance Institute, our primary goal was to offer UFC athletes the best possible training, nutrition, and recovery services," said UFC President Dana White. "This partnership with Aurora is an extension of that goal, and we're looking forward to collaborating with Aurora to find new ways to improve the health and safety of athletes who compete in UFC."
Aurora plans to use the high-profile nature of the UFC to its advantage as it looks to develop CBD products aimed at athletes.
This global partnership places focus squarely on the health and well-being of UFC's talented and highly trained athletes. The Aurora-UFC research partnership creates a global platform to launch targeted educational and awareness campaigns, while creating numerous opportunities to accelerate our global CBD business," Aurora CEO Terry Booth said.
Aurora shares rose 1.7% on Tuesday to $8.63.