Vancouver, Canada -- June 1, 2020 /CNW/ -- Press Release -- Nextleaf Solutions Ltd., a Canadian cannabis extraction company, announced June 1 that it had been issued patents in North America, Asia and Europe. These patents pertain to the company's method of extracting and separating cannabinoids and terpenes. The patents were issued in nations including, but not limited to: the United States, Spain, Portugal, Poland, Malta, Ireland, Denmark and Cambodia.
These patents will protect Nextleaf’s methodologies relating to the removal of fats and waxes during the extraction and purification process, achieving more efficient throughput rates and a higher quality distillate. The company now globally has 35 issued patents, and 65 pending patents, for the industrial-scale extraction and distillation of cannabinoids.
Nextleaf considers European IP protection to be particularly important due to the increasing demand for medical cannabis and CBD products in these rapidly legalizing markets. Prohibition Partners projects the legal European cannabinoid market will be worth more than U.S. $39 billion by 2024, compared to U.S. $ 37 billion for the more mature North American market by the same time.
"We expect these patents will have a major impact on the production and sale of standardized cannabinoid-based products in Europe over the twenty year life of the patents," said Paul Pedersen, CEO. "These are jurisdictions that collectively manufacture and export over 70% of all drugs and medicines consumed globally, making European IP protection very important to our long-term global strategy.”