Nextleaf Solutions (OILS.C) received their 40th patent today from the Canadian Intellectual Property Office, according to a press release.
The patent is regarding a process for acetylating THC and its refinement into THC-O-Acetate, using salting-out assisted liquid-liquid extraction and distillation techniques.
“Nextleaf’s patented process to produce THC-O-Acetate enables the standardization of a more potent analog of THC, an alternative option to experience the unique medicinal benefits, associated with targeted drug delivery. The potency of THC-O-Acetate is said to be 300% that of THC with potentially psychedelic features,” said Paul Pedersen, Nextleaf’s CEO.
Prodrugs use various physical and chemical changes to improve some of the features active drugs. By maintaining the drug’s molecular integrity and ability to deliver the chemical to targeted areas may increase bioavailability and reduce unintended side effects.
“To the best of my knowledge, Nextleaf is the first company in the world, publicly traded or private, to be issued patents for the production of THC-O-Acetate in any jurisdiction, including the United States and Canada,” said Taran Grey, director of intellectual property.
Nextleaf announced in late February that it had received a related patent in the United States. Now by receiving this patent in Canada, it represents an opportunity with fewer barriers to entry for pharmaceutical firms looking to get in the business of manufacturing and distribution of cannabinoid formulations and prodrugs in a federally legal jurisdiction.
The company’s success rate at having patents issued from its pending applications is 100% so far, compared to other life science companies, which typically score less than 50%. Nextleaf anticipates finding pulling in revenues from IP licensing agreements with pharmaceutical companies, and also through IP protected products.