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Nextleaf Solutions Ltd
Symbol OILS
Shares Issued 120,505,726
Close 2020-11-05 C$ 0.205
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Nextleaf receives CBD-O-acetate patent from USPTO

2020-11-05 12:02 ET - News Release

Mr. Paul Pedersen reports

NEXTLEAF SOLUTIONS GRANTED CBD PRODRUG PATENT IN THE UNITED STATES

The United States Patent and Trademark Office has granted Nextleaf Solutions Ltd. a second patent for the acetylation of cannabinoids. More specifically, the patent covers a process for acetylating cannabidiol and the subsequent refinement of CBD-O-acetate.

The company owns a portfolio of 10 issued U.S. patents for the extraction, purification and delivery of cannabinoids, along with a 100-per-cent success rate obtaining issued patents from its pending patent applications, compared with less than 50 per cent for life science companies.

"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, chief executive officer 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 analogue 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.

Nextleaf was granted a U.S. patent in February for the acetylation of tetrahydrocannabinol and the 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 for its cannabinoid acetylation patents, with a specific focus on pharmaceutical companies seeking novel cannabinoid-derived products for clinical trials and turnkey pharmaceutical production.

About Nextleaf Solutions Ltd.

Nextleaf Solutions is Canada's most innovative cannabis extractor, developing technology for extracting and distilling cannabinoids. Nextleaf wholesales tetrahydrocannabinol/cannabidiol oils and provides extraction services through its wholly owned subsidiary, Nextleaf Labs Ltd., a Health Canada-licensed processor. The company owns a portfolio of over 50 issued patents and over 50 pending patents for the extraction, purification and delivery of cannabinoids. The company's proprietary closed-loop extraction plant in Metro Vancouver has a design capacity to process 600 kilograms per day of dried cannabis biomass into distilled oils.

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