- Lexaria’s patented DehydraTECH(TM) enhancement technology targets key market segments including nicotine replacement, CBD, cardiovascular and antiviral drugs, human hormones, and PDE5 inhibitors
- DehydraTECH-enabled drug and consumer products provide faster delivery times, increased bioavailability, increased brain absorption, improved drug potency, lower administration costs, and mask unwanted tastes
- The global CBD market was valued at $5.18 billion in 2021 and is expected to grow at a CAGR of 16.8% from 2022 to 2030, resulting in a revenue forecast of $22.05 billion by 2030
Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has announced that Boldt Runners Corporation, licensee of its patented DehydraTECH(TM) technology and owner of the Cannadips Brand, has expanded its manufacturing agreements to include Europe, Japan, and South Africa. Cannadips CBD dip pouches are the leading cannabidiol (“CBD”) pouch in the United States. They are a tobacco-free and nicotine-free dip alternative that provides an effective way for consumers to enjoy CBD. Cannadips is sold in over 6,500 retail locations across the United States, including direct-to-consumer online purchases (https://cnw.fm/x4P1h).
Every tin of Cannadips product features DehydraTECH enhancement technology and results from longstanding collaboration and product design. “We are delighted with the expansion of the Cannadips brand outside of the USA. We continue to work with the Cannadips team on the infusion of exciting new formulations to meet the needs of adult consumers’ changing preferences and will endeavor to always remain one step ahead of the competition,” Lexaria Bioscience CEO Chris Bunka stated.
Lexaria’s DehydraTECH enhancement technology is covered by 25 issued and more than 50 pending patents spanning 40 countries worldwide. The United States Patent and Trademark Office issued the first patent for the technology in October 2016. The technology was designed to formulate and deliver lipophilic (fat-soluble) drugs and active ingredients to increase effectiveness and improve the way active pharmaceutical ingredients (“APIs”) enter the bloodstream.
DehydraTECH-enabled drug and consumer products provide a myriad of benefits to the consumer, including:
- Faster delivery times – the effects of the DehydraTECH-enabled drug or product are felt by most consumers in a matter of minutes
- Increased bioavailability – the technology provides greater absorption into the bloodstream
- Increased brain absorption – through animal testing, significant improvement has been seen in the quantity of the drug delivered across the blood-brain barrier
- Improved drug potency – more of the ingested product is made available to the body, with lower doses required to achieve the desired effect
- Reduced drug administration costs – lower dosages can lower the drug cost
- Masking of unwanted taste – the DehydraTECH technology eliminates or reduces the need to add sweeteners for tolerability
As the relationship between Lexaria and the Cannadips brand continues to flourish through international product sales, it opens new channels of growth for Lexaria’s revenues. Pete Diatelevi, CEO of Boldt Runners Corporation, said, “We are extremely grateful for our longstanding relationship with Lexaria and look forward to our continued expansion into new channels, geographies, and product formats.”
The expansion comes as the global CBD market is continues growing, being estimated to reach $22.05 billion by 2030, growing at a CAGR of 16.8% from the $5.18 billion value reported in 2021 (https://cnw.fm/9ZGC8). Lexaria is leveraging several key market segments through its ongoing research and development efforts, including nicotine replacement, CBD, cardiovascular and antiviral drugs, human hormones, and PDE5 inhibitors. Since 2016, Lexaria’s DehydraTECH enhancement technology has repeatedly demonstrated, with nicotine and cannabinoids, the ability to increase the bio-absorption through ranges of five to ten times, reducing the time of onset from one to two hours to a matter of minutes while masking intolerable tastes. The company is also further evaluating the administration of DehydraTECH-enabled active pharmaceutical ingredients including antivirals, cannabinoids, and nicotine.
For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX
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