- Nextleaf Solutions (CSE:OILS) has received a U.S. patent for a cannabinoid extraction process
- Specifically, the patent relates to a process for acetylating and refining THC into a compound called THC-O-Acetate
- THC-O-Acetate is a “prodrug” that offers increased benefits over regular THC
- Now part of its intellectual property portfolio, Nextleaf plans to explore options for commercialization
- Nextleaf Solutions (OILS) was down down 10 per cent, with shares currently trading for C$0.27 and a market cap of C$29.19 million
Nextleaf Solutions (CSE:OILS) has received a U.S. patent for a cannabinoid extraction process.
The company currently owns an IP portfolio built around innovative methods of cannabis extraction and distillation.
The latest addition to its portfolio is a patented method for acetylating THC and subsequently refining it into a compound called THC-O-Acetate.
THC-O-Acetate is considered a “prodrug” and offers a range of benefits over regular THC.
Nextleaf’s Chief Technology Officer, Ryan Ko, said the compound may also offer improvements in efficiency as well as targeted drug delivery.
“Anecdotal accounts have reported gradual onset, longer lasting benefits, and altered psychological effects when compared to THC,” he said.
THC-O-Acetate’s ability to deliver drugs to specific areas of the body can potentially reduce consumption quantities. This achieves the same desired effect with significantly less intake, which could reduce unintended side effects.
Nextleaf’s CEO, Paul Pedersen considers this a great step forward for the company.
“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.
“As large pharmaceutical companies look to enter this space we believe such IP protected processes and resulting products will draw a lot of attention,” he said.
The company says that its next steps will be to explore potential avenues of commercialization and revenue generation.
It’s expected that Nextleaf will either license the process to pharmaceutical companies, or produce IP-protected cannabinoid products for sale in legal markets.
Nextleaf first began generating revenue in December 2019 through royalties earned from its patent portfolio.
Nextleaf Solutions (OILS) was down down 10 per cent, with shares currently trading for C$0.27 at 2:17pm EST.