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Zoetic files US patent applications for manufacturing method of Chill CBD smokables

The company said CBD may play “a rapidly increasing role in smoking cessation aides” and that its tobacco-free, THC-free and nicotine-free products were “well-placed to take an increasing share of this market”

Zoetic International PLC - Zoetic files US patent applications for manufacturing method of Chill CBD smokables

Zoetic International PLC (LON:ZOE) has filed a US patent application for the method of manufacturing its tetrahydrocannabinol (THC)-free Chill brand of smokable cannabidiol (CBD) products.

The CBD specialist said the patent-pending method also includes a variation smoking cessation product, employing combinations of nicotine and CBD, and has been in development for over a year.

READ: Zoetic exits legacy natural resources business with deal to sell well stimulation technology and Kansas nitrogen assets

Zoetic added that it believes CBD may play “a rapidly increasing role in smoking cessation aides” and that its Chill branded tobacco-free, THC-free and nicotine-free products were “well-placed to take an increasing share of this market”. The company noted that, if issued, the patent will provide it with “a protected market-leading offering”.

The group also said, separately, it has agreed a sales agency and licence agreement with its former chairman Paul Mendell for the combined nicotine and CBD and nicotine only versions of the patent on which the two parties would share any royalties and licence fees from third-party use.

If the firm decides to utilise the combined CBD/nicotine or nicotine-only versions of the patent in the future, Mendell will receive a 5% royalty on any sales.

“The company is not aware of any other tobacco-free, THC-free, nicotine and nicotine/CBD containing products in the market, and hopes its agreement with Mr Mendell will provide a valuable additional source of revenue in the future with no additional costs”, Zoetic said.

The group added that it has also filed a second unrelated patent application relating generally to drug compositions and specifically to compositions in which an active ingredient is physically mixed and/or chemically bonded with a cannabinoid to form a prodrug, such that the cannabinoid modifies a pharmacodynamic or pharmacokinetic profile of the active ingredient.

"The filing of the smokable non-provisional patent is yet another step in Zoetic's journey to lead the industry in innovation and product development.  We believe there is a major shift in how tobacco users will make the transition from traditional tobacco products.  We believe our first-mover position will have substantial benefits as other competitors begin to enter the market", Zoetic co-chief executive, Antonio Russo said in a statement.

Fellow co-CEO, Trevor Taylor, added: "Although, our primary focus in the US has been on the Chill branded product lines, we believe it is important to continue to develop other cannabinoid related products that will serve other parts of the emerging market. The combination of cannabinoids with other drug compositions may prove to be a pivotal breakthrough in the science of drug efficacy."

Zoetic's shares rose 5.6% to 5.2p in early trading on Friday.

--Adds share price--

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