Nextleaf
Solutions Prepares for Potential Pharmaceutical
Participation
with
Prodrug
Patent
The
Company's
latest
U.S. patent is for
the Acetylation of Cannabinoids, protecting
the production
of a
cannabinoid-derived prodrug with unique medicinal properties
and
potential applications in the pharmaceutical
industry.
VANCOUVER, Canada
-- February 27, 2020 -- InvestorsHub NewsWire
-- Nextleaf
Solutions
Ltd. ("Nextleaf",
"OILS",
or the "Company")
(CSE:
OILS)
(OTCQB:
OILFF)
(FSE:
L0MA),
Canada's most
innovative cannabis extractor, announced
today that
the
United
States Patent and Trademark Office has
granted the Company a
patent
for the
acetylation of cannabinoids. More specifically, the patent
describes
a process for
acetylating delta
9-tetrahydrocannabinol ("THC"), and subsequent
refinement
into
THC-O-Acetate using salting-out assisted
liquid-liquid extraction and distillation
techniques.
“Nextleaf’s
patented process produces THC-O-Acetate, a cannabinoid-derived
metabolic prodrug with potentially very unique medicinal benefits
associated with efficient and targeted drug delivery. Anecdotal
accounts have reported gradual onset, longer lasting benefits, and
altered psychological effects when compared to THC” states Ryan Ko,
Chief Technology Officer.
Prodrugs utilize various physical and
chemical modifications to improve features of active
drugs.
Maintaining the integrity of the molecule and its ability to
deliver drugs to precisely targeted areas in the body may
significantly reduce consumption quantities for desired
effects
as well as
reduce unintended side effects.
"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," states Paul Pedersen, CEO, "As
large pharmaceutical companies look to enter this space we believe
such IP protected processes and resulting products will draw a lot
of attention."
The
Company expects
opportunities to commercialize this patent through IP licensing to
pharmaceutical companies, or
producing IP
protected cannabinoid products where legal jurisdictions
allow. OILS commenced revenue in
December 2019 from royalties earned on its patent
portfolio.
About
Nextleaf Solutions
OILS
is Canada's
most innovative cannabis extractor, developing technology
for extracting and
distilling THC
and CBD oils. Nextleaf
owns a
portfolio of 14 issued patents and over 60 pending patents
for
to the
extraction,
purification, and formulation of cannabinoids. The Company's
industrial-scale
extraction and purification
plant in
Coquitlam, B.C. has a design capacity to process
600 kg per
day
of dried
cannabis biomass into refined
oils. Nextleaf Solutions
commercializes its patent portfolio through IP
licensing, and supplying THC and CBD oils through Nextleaf Labs, a
Health Canada licensed Standard Processor.
Nextleaf
Solutions trades as OILS
on the Canadian
Securities Exchange, OILFF
on the OTCQB
Market in the United States,
and L0MA on
the Frankfurt Stock Exchange.
Follow OILS
across social media platforms: Twitter, LinkedIn, Facebook, and Instagram.
www.nextleafsolutions.com
For further
information, please contact:
604-283-2301
(ext. 201)
investors@nextleafsolutions.com
On
behalf of the Board of Directors of the Company,
Paul
Pedersen, CEO
CAUTIONARY STATEMENT:
Certain statements
contained in this press release constitute "forward-looking
statements". All statements other than statements of historical
fact contained in this press release, including, without
limitation, those regarding the Company's ability to capitalize on
its IP portfolio and enter into agreements with third parties,
expected market growth, and the Company's strategy, plans,
objectives, goals and targets, and any statements preceded by,
followed by or that include the words "believe", "expect", "aim",
"intend", "plan", "continue", "will", "may", "would", "anticipate",
"estimate", "forecast", "predict", "project", "seek", "should" or
similar expressions or the negative thereof, are forward-looking
statements. These statements are not historical facts but instead
represent only the Company's expectations, estimates and
projections regarding future events. These statements are
not guarantees of future performance and
involve assumptions, risks and uncertainties that are difficult to
predict. Therefore, actual results may differ materially from what
is expressed, implied or forecasted in such forward-looking
statements. Additional factors that could cause actual results,
performance or achievements to differ materially include, but are
not limited to the risk factors discussed in the Company's MD&A
for the most recent fiscal period. Management provides
forward-looking statements because it believes they provide useful
information to investors when considering their investment
objectives and cautions investors not to place undue reliance on
forward-looking information. Consequently, all of the
forward-looking statements made in this press release are qualified
by these cautionary statements and other cautionary statements or
factors contained herein, and there can be no assurance that the
actual results or developments will be realized or, even if
substantially realized, that they will have the expected
consequences to, or effects on, the Company. These forward-looking
statements are made as of the date of this press release and the
Company assumes no obligation to update or revise them to reflect
subsequent information, events or circumstances or otherwise,
except as required by law. The
CSE has not reviewed, approved or disapproved the contents of this
press release.
