VANCOUVER, Canada – Nextleaf Solutions Ltd. (“Nextleaf”, “OILS”, or the “Company”) (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA), Canada’s most innovative cannabis extractor, announced today that the United States Patent and Trademark Office has granted the Company a patent for the acetylation of cannabinoids. More specifically, the patent describes a process for acetylating delta 9-tetrahydrocannabinol (“THC”), and subsequent refinement into THC-O-Acetate using salting-out assisted liquid-liquid extraction and distillation techniques.
“Nextleaf’s patented process produces THC-O-Acetate, a cannabinoid-derived metabolic prodrug with potentially very unique medicinal benefits associated with efficient and targeted drug delivery. Anecdotal accounts have reported gradual onset, longer lasting benefits, and altered psychological effects when compared to THC” states Ryan Ko, Chief Technology Officer.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 significantly reduce consumption quantities for desired effects as well as reduce unintended side effects.
“With this new U.S. patent, 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,” states Paul Pedersen, CEO, “As large pharmaceutical companies look to enter this space we believe such IP protected processes and resulting products will draw a lot of attention.”The Company expects opportunities to commercialize this patent through IP licensing to pharmaceutical companies, or producing IP protected cannabinoid products where legal jurisdictions allow. OILS commenced revenue in December 2019 from royalties earned on its patent portfolio.
About Nextleaf Solutions
OILS is Canada’s most innovative cannabis extractor, developing technology for extracting and distilling THC and CBD oils. Nextleaf owns a portfolio of 14 issued patents and over 60 pending patents for to the extraction, purification, and formulation of cannabinoids. The Company’s industrial-scale extraction and purification plant in Coquitlam, B.C. has a design capacity to process 600 kg per day of dried cannabis biomass into refined oils. Nextleaf Solutions commercializes its patent portfolio through IP licensing, and supplying THC and CBD oils through Nextleaf Labs, a Health Canada licensed Standard Processor.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.