Charlotte’s Web Holdings Inc (OTCMKTS:CWBHF) received a US utility patent for its innovative hemp variety (CW1AS1) from the USPTO. The new patent – US 10,653,085 provides the highest protection level for Charlotte’s proprietary genetics. Bear Reel, Senior Director (R&D) and co-founder of Charlotte’s, Joel Stanley, created this new hemp variety.
High level of protection
The new US patent helps Charlotte’s to advance the development of proprietary genetics, create new products, and protects them in the future. President and CEO of Charlotte’s, Deanie Elsner, said the second US patent offered by USPTO ensures it to develop new products and deliver them to thousands and offer a unique and consistent experience.
At the forefront to receive hemp patents
Offering patents for hemp is a new concept, and very companies won patents for this new variety as of date. The biggest hemp company in the world, Charlotte’s is at the forefront to get the patent for hemp genetics. Charlotte’s will provide good quality products.
Higher phytocannabinoids content
Reel said the new patent from the USPTO is recognized for its progress in breeding and helps the farmers with innovative hemp genetics for better yields. The farmers can produce hemp that comprises higher levels of phytocannabinoids.
Charlotte’s already supplies CBD wellness products, its original formula, to several consumers across the nation. Over 15,000 people have been waiting for products developed using the original formula even before establishing Charlotte’s in the year 2013.
Takes over Abacus Health Products
As per the previous plan of arrangement, the company acquired all the outstanding and issued Abacus shares. The takeover allows Charlotte’s to distribute its wellness and health products to over 21,000 retail locations. Charlotte’s also established 1,100 drug stores. It also added over 700 pet stores, whereas Abacus included over 5,000 retail doors by establishing new retail pacts.
Charlotte’s can market established products like CBD Clinic brand, Harmony Hemp, and CBD MEDIC. It will benefit from significant cross-product sales through the distribution networks. The DTC platform of Charlotte’s offers several topical products of Abacus beginning July 2020.
The amalgamation of Abacus will strengthen its leadership in offering ingestible and topical CBD products.