- Proprietary biosynthesis process to produce cannabinoids
- Provisional patent application filed
- Cost-effective methodology to produce trace cannabinoids
If you have any doubt that InMed Pharmaceuticals, Inc. (CSE: IN) (OTCQB: IMLFF) is on the right track as it moves to protect its biosynthesis technology for cannabinoids, then a word from a famed figure may make you change your mind. Known worldwide for his investing prowess, Warren Buffett has said, “I don’t want a business that’s easy for competitors. I want a business with a moat around it with a very valuable castle in the middle” (http://nnw.fm/ILqd2). Naturally, the Sage of Omaha was referring to an economic moat and not its tangible water-filled counterpart. One obvious way of constructing such an economic moat would be by registering a patent, which is exactly what InMed is planning to do. The company, which specializes in the research and development (R&D) of novel, cannabinoid-based drug therapies, has announced the filing of a provisional patent application for its proprietary biosynthesis process for the manufacture of cannabinoids that are identical to those found in nature (http://nnw.fm/lGxK8).
This filing is the first step in setting up defenses. Under U.S. patent law, a provisional patent application filed with the United States Patent and Trademark Office (USPTO) allows the filer to get a filing date and book a place in the queue. But, just as importantly, it affords protection for up to 12 months without filing a complete patent application. The provisional application may later be converted into a non-provisional one or be replaced by a regular patent application. The process in Canada, although not the same, is very similar.
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