Nextleaf Solutions (OILS.C) received their fifth patent from the Israeli Patent Office today, according to a press release.
This patent is for its production process for low-cost cannabis distillate, and is part of their ongoing strategy to collect and develop defendable intellectual property surrounding the most efficient methods for producing high-purity THC and CBD in a regulated environment.
“This Israeli patent is a validation of our technology and is significant in achieving our vision of developing IP that improves cannabis oil economics globally,” said Paul Pedersen, CEO of Nextleaf Solutions.
Nextleaf is a cannabis processor, with an extensive intellectual property portfolio for the extraction, purification and delivery of cannabinoids. In addition to distillate, they also do private labels THC and CBD through their subsidiary, Nextleaf Labs.
OILS has really become quite patent hound in the past few years. They boast one of the largest intellectual property portfolios of issued U.S. patents related to cannabis extractions, but have also been issued patents in Canada, Mexico, Australia, New Zealand, Colombia, South Africa, Cambodia, Israel, Germany the U.K and other European jurisdictions. The company owns 12 issued U.S. patents and 70 issued patents globally.
Back in December, the government of Israel signed a regulatory amendment allowing the use of CBD in cosmetics and food products, and according to the Israeli Medical Cannabis Association, the market for medical cannabis is over 71,000 strong. This is great for a company like Nextleaf, which can slip in, set up shop and expand on their IP holdings, trying to get a broad umbrella of intellectual property in cannabis extraction, purification techniques, which they can license out to companies looking to get involved in the cannabis space, in exchange for royalties.
This strategy has its problems—namely, there’s no guarantee that any of this intellectual property is going to bear fruit in a market where new extraction and purification techniques are discovered what seems like everyday—but it’s good work if you can get it.
Nextleaf is down $0.015 today, and presently trading at $0.285.