Neptune Wellness Solutions Inc. NEPT NEPT confirmed Wednesday that it has obtained Patent No. 11,110,372 from the United States Patent and Trademark Office for developing a method of extracting and isolating compounds from the plants of the Cannabis genus at low temperature using cold organic solvents.
The cannabis-oriented health and wellness company noted that by leveraging this patent, it aims to pursue licensing opportunities for its unique extraction process with manufacturers.
"Building out a comprehensive IP portfolio is an important strategy to unlock durable growth drivers for Neptune,” Michael Cammarata, president and CEO of Neptune Wellness, said in a statement. “Our differentiated extraction process was developed through years of science-backed research and represents the continued progress of our IP strategy."
Price Action
Neptune Wellness’ shares were trading 1.16% higher at 54 cents per share at the time of writing Thursday morning.
Photo: Courtesy of CRYSTALWEED cannabis on Unsplash
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