Benzinga | Oct 21, 2021 12:12PM EDT

Neptune Wellness Obtains U.S. Patent For Its Original Cannabis Extraction Process Using Organic Solvents

Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX: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