21:38:47 EDT Thu 30 Jun 2022
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Nextleaf Solutions Ltd
Symbol OILS
Shares Issued 121,836,314
Close 2021-01-15 C$ 0.335
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Nextleaf receives patent for CBD-O-acetate process

2021-01-18 10:04 ET - News Release

Mr. Paul Pedersen reports


The Canadian Intellectual Property Office has granted Nextleaf Solutions Ltd. a patent for the acetylation of cannabinoids. More specifically, the patent covers a process for acetylating cannabidiol, and subsequent refinement of CBD-O-acetate using a proprietary extraction and distillation technique.

The company owns 12 issued U.S. patents and 70 issued patents globally for the extraction, purification and delivery of cannabinoids -- representing the second-largest patent portfolio among all cannabis companies.

"We expect the results of the 2020 U.S. elections will have a transformational effect on the commercial value of our U.S. patent portfolio," stated Paul Pedersen, chief executive officer of Nextleaf Solutions. "The world's largest cannabis company launching the industry's first patent infringement lawsuit against GW Pharma on Dec. 22, 2020, demonstrates the value of patents and intellectual property in the cannabis industry."

This patented process to produce CBD-O-acetate enables the standardization of a more potent analog of CBD through 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 already owns U.S. patents for the acetylation of THC, and the acetylation of CBD. The company's patent portfolio and Health Canada licences for cannabis processing and research presents an entry point for pharmaceutical firms looking to manufacture cannabinoid prodrugs in a federally legal jurisdiction.

The company plans to commercialize this intellectual property through IP licensing, and the production of IP-protected cannabinoid-based products as legally permitted by Health Canada.

Nextleaf has engaged Kronos Capital Partners Inc. to pursue and evaluate global strategic partners and investors. Kronos is a strategic adviser and an active investor in the global cannabis and life science sectors.

About Nextleaf Solutions Ltd.

Nextleaf is the world's most innovative cannabis extractor, having developed the second-largest portfolio of U.S. patents among all cannabis companies. The company wholesales THC and CBD oils and provides extraction services through its wholly owned subsidiary Nextleaf Labs Ltd. The company's automated closed-loop extraction plant in Metro Vancouver has a design capacity to process 600 kilograms per day of dried cannabis biomass into distilled oils. Nextleaf Labs holds Health Canada licences for standard processing and research under the Cannabis Act, allowing for a number of licensed activities including sensory evaluation of cannabis via human testing. The company owns a portfolio of 12 issued U.S. patents and 70 issued patents globally for the extraction, purification and delivery of cannabinoids.

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