“The amended Cannabis Research Licence allows Nextleaf to rapidly formulate a wide variety of cannabis products and administer samples to volunteer research participants…The ability to provide commercial partners with data-based consumer insights around taste and overall user experience is a true game changer for product development,” said Nextleaf Solutions R&D Lead, Dr. David Novitski.
Don’t worry, the trials aren’t going to be the kind that give you mutant powers or adverse side effects. Under Nextleaf’s amended Cannabis Research License from Health Canada, the Company is hoping to collect data from volunteers completing organoleptic assessments for various cannabis vape products. Organo-what? Organoleptic refers to the properties of food, water, or other substances that create a unique experience via taste, sight, smell and touch. In short, volunteers are responsible for getting high and reporting their experiences. Sounds pretty grueling, right?
Nextleaf wants to assess a wide range of cannabinoid and terpene formulations while focusing on how said formulations interact with vape hardware. In doing so, the Company hopes to accelerate product development and greatly shorten design cycles for launching new cannabis vape products. Data collected from the human trials will be used by Nextleaf and its commercial partners to launch vape products into adult-use markets across Canada.
“There are a lot of subpar vape products available in the market today that have not gone through rigorous testing and human trials…Issues such as poor taste, clogging, leaking, and crystallization in CBD vapes are well documented throughout the industry. Collecting consumer feedback during product development is key to launching differentiated cannabis 2.0 products that provide consumers with a positive experience and value,” said Nextleaf Solutions CEO Paul Pedersen.
Nextleaf has recognized the need to generate and protect its intellectual property as the cannabis industry continues to mature. Recent investments into the cannabis scene from pharmaceutical and tobacco companies have made it crystal clear just how active the market currently is for cannabis products. Currently, Nextleaf owns 12 U.S. patents and has issued an additional 70 patents globally. Overall, the Company is positioned well with its innovation pipeline and various patents.
Additionally, Nextleaf recently added an Atlantic Canada based producer to the OILS Commercial Partners Program. In order to support its latest partner’s commercial launch of large format vape products, Nextleaf shipped an initial bulk order of high purity cannabis distillate. Following the transaction, the Company hopes the two can establish a long-term white label supply partnership which will ultimately support Nextleaf’s brand distribution strategy in Atlantic Canada and other provincial markets in the future.
Nextleaf’s stock price opened at $0.245 today and is up from yesterday’s close of $0.235 following the news. The Company’s stock price currently sits at $0.24.