The Company’s latest U.S. patent is for the Acetylation of Cannabinoids, protecting the production of a CBD-derived prodrug with potential applications in the pharmaceutical industry.
Nextleaf Solutions Ltd. Canada’s most innovative cannabis extractor, announced today that the United States Patent and Trademark Office has granted the Company a second patent for the acetylation of cannabinoids. More specifically, the patent covers a process for acetylating cannabidiol (“CBD”), and subsequent refinement of CBO-O-Acetate.
The Company owns a portfolio of 10 issued U.S. patents for extraction, purification, and delivery of cannabinoids, along with a 100% success rate obtaining issued patents from its pending patent applications, compared to less than 50% for life science companies I.
“We expect the results of the 2020 U.S. elections will have a transformational effect on the future of cannabis legalization in the United States,” stated Paul Pedersen, CEO of Nextleaf Solutions. “With the second largest patent portfolio of any cannabis company, Nextleaf has the type of robust intellectual property that draws attention from pharmaceutical companies anticipating the U.S. federal legalization of cannabinoids.”
Nextleaf’s patented process to produce CBD-O-Acetate enables the standardization of a more potent analog of CBD, an alternative option to experience the unique medicinal benefits associated with targeted drug delivery. Prodrugs utilize various physical and chemical modifications to improve features of active drugs. Maintaining the integrity of the molecule and its ability to deliver drugs to precisely targeted areas in the body may increase efficacy for desired outcomes.
The Company believes an orally consumable CBD metabolic prodrug produced under its patented process for acetylating cannabidiol will enhance the therapeutic potency of CBD.
OILS was granted a U.S. patent in February for the acetylation of delta 9-tetrahydrocannabinol (“THC”), and subsequent refinement of THC-O-Acetate.
“With this second U.S. patent for acetylation of cannabinoids, we are able to efficiently modify and potentially improve upon the medicinal properties of a natural product that has been in use for thousands of years,” stated Ryan Ko, Chief Technical Officer.
The Company has commenced a search for commercialization partners of its cannabinoid acetylation patents, with a specific focus on pharmaceutical companies seeking novel cannabinoid-derived products for clinical trials, and turnkey pharmaceutical production.
Nextleaf Solutions trades as OILS on the Canadian Securities Exchange, OILFF on the OTCQB Market in the United States, and L0MA on the Frankfurt Stock Exchange.
For more information please contact:
604-283-2301 (ext. 219)
On behalf of the Board of Directors of OILS,
Paul Pedersen, CEO
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