Nextleaf Solutions (OILS.C) received a patent for the prodrug producing, acetylation of cannabinoids today from the Canadian Intellectual Property Office, according to a press release.
Specifically, the patent is for a process for acetylating cannabidiol (CBD) and refining CBD-O-Acetate involving an extraction and distillation technique. This adds to their 12 issued U.S. patents and 70 global patents for cannabinoid extraction, purification and delivery, which makes them the second largest patent portfolio holder 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. The world’s largest cannabis company launching the industry’s first patent infringement lawsuit against GW Pharma on December 22, 2020 demonstrates the value of patents and intellectual property in the cannabis industry,” said Paul Pedersen, CEO of Nextleaf Solutions.
OILS styles themselves the world’s most innovative cannabis extractor, and boasts the second largest portfolio of U.S. patents among all cannabis companies. While the jury’s still out on the veracity of the first claim, the second is indisputable. They wholesale THC and CBD oil and provide extraction services their NextLeaf Labs subsidiary.
Their latest patented process produces CBD-O-Acetate, and enables the standardization of the more potential analog of CBD through their targeted drug delivery. Prodrugs improve features of active drugs through chemical and physical modifications while maintaining the integrity of the molecule and its efficacy as a delivery system to areas of the body in need. OILS naturally contends that a CBD metabolic prodrug produced under this process will enhance the medicinal potency of CBD.
OILS is up 7.5% on the day, trading at $0.35—riding the corrective downswing of a double that’s saw them leap from $0.18 in late December up to $0.38 and resting where they are now. Congratulations if you bought in when it was barely cracking $0.17 in the long ago vistas of October.