- Lexaria and GP Holdings LLC enter into a five-year semi-exclusive licensing agreement
- Lexaria and GP have developed a series of high-performing cannabis beverages with nearly zero unwanted taste and odor
- California cannabis-beverage market is expected to be one of the largest edible product segments
Drug delivery innovator Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) recently announced a definitive technology licensing agreement with GP Holdings LLC to empower next-generation performance in high absorption, fast acting cannabis-infused beverages to be developed and sold in California. DehydraTECH™ is LXRP’s edible delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. This revolutionary technology makes it possible to deliver bioactive substances via oral ingestion, eliminating the need for unhealthy practices such as inhalation or the addition of sugars or sweeteners, which are commonly used to mask taste.
LXRP and GP have been working for months to develop a high performing cannabis beverage with nearly zero unwanted cannabis odor or flavor. Together, they have developed products with the complete clarity and transparency of even sparkling beverages. GP has acquired rights to use DehydraTECH™ in a five-year semi-exclusive licensing agreement for beverage applications in California and has acquired matching rights to develop topical skin products using this technology as well. Commencement of operations in GP’s new state-of-the-art bottling factory is expected within the next two quarters.
“The use of DehydraTECH™ triggers a race to the top in the California THC beverage and topicals market through this 5-year license agreement,” LXRP CEO Chris Bunka stated in a news release. “This is another long-term strategic relationship that will give consumers the faster acting and highly potent products they deserve, and class-leading flavor profiles for the beverage segment in particular.”
The semi-exclusive agreement gives LXRP the ability to offer other licensee partners the option of utilizing GP’s formulation and manufacturing expertise to produce cannabis-infused beverages throughout California. With the California cannabis-beverage market anticipated to be one of the largest edible product segments, LXRP is strategically positioned for continued growth within the cannabis industry.
For more information, visit the company’s website at www.LexariaBioscience.com
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