The company received a patent from the US Patent and Trademark Office, its sixth from the agency, pertaining to its proprietary chilled cannabinoid extraction process with downstream media treatment and filtration.
The other patent came from the Superintendency of Industry and Commerce, the Colombian Government agency that administers intellectual property rights, covering Nexleaf’s industrial-scale process of extraction, refinement, and distillation of cannabinoids.
“Nextleaf being awarded 10 patents by four international patent offices in the key markets of Canada, Australia, Colombia, and the United States validates our technology and further reinforces our vision of developing defendable intellectual property that improves CBD and THC oil economics globally,” CEO Paul Pedersen said in a statement.
Nextleaf’s technology enables lower-quality dried cannabis and hemp biomass to be processed at scale into high-purity THC and CBD distilled oil. The company said it believes that its proprietary technology will help establish a low-cost competitive advantage.
“As more governments around the world move to legalize cannabis, we expect to see large multinational companies, including tobacco and pharmaceutical companies, acquire IP in order to protect their rights as part of their broader strategy to dominate the global market for legal cannabinoid-based products,” Pedersen said. “Recent acquisitions by large players in the sector are evidence of the potential for significant shareholder value creation through the formalization and protection of IP.”