Categories Uncategorized

Lexaria Bioscience Corp.’s (CSE: LXX) (OTCQX: LXRP) DehydraTECH Receives New R&D Funding for Oral Nicotine Delivery Technology

  • LXRP subsidiary Lexaria Nicotine LLC enters definitive investment agreement with large tobacco company to receive R&D funding in exchange for licensing and equity
  • Partner has provided initial $1 million – with an option for up to $11 million more – for research on DehydraTECH’s oral forms of nicotine delivery through a series of private financings
  • LXRP still retains majority equity ownership of Lexaria Nicotine, while partner receives a minority equity interest in the subsidiary, not in LXRP itself

Lexaria Bioscience Corp.’s (CSE: LXX) (OTCQX: LXRP) DehydraTECH absorption platform will receive a significant injection of R&D financing under an investment agreement that wholly owned subsidiary Lexaria Nicotine LLC has entered into with a large tobacco partner. LXRP has initially received $1 million toward its research on nicotine consumer products that use DehydraTECH (http://cnw.fm/12hJT).

Through the agreement, the partner also has the option to provide up to $11 million in additional research through multiple phased private financings to underwrite LXRP’s R&D. In exchange, the partner will receive certain license rights to commercialize these DehydraTECH products exclusively in the United States and non-exclusively elsewhere. The partner, the largest cigarette company in the U.S., will be obligated to pay LXRP a royalty on sales of all products that use DehydraTECH.

The partner will have the option to buy full ownership of LXRP’s subsidiary, but no equity in LXRP itself, per the terms of the agreement. Additionally, the partner will have the right to appoint one of the seven directors of LXRP, and, as the phased additional investments are made, it may have the right to appoint up to three directors.

Lexaria Nicotine plans to conduct a series of clinical investigations into oral forms of nicotine delivery using DehydraTECH technology. In a news release, John Docherty, LXRP president, said, “Lexaria Bioscience has repeatedly demonstrated the powerful effects of its patented DehydraTECH technology for enhancing the palatability and speed of onset of orally consumed bioactive substances such as nicotine.”

Based in British Columbia, Canada, LXRP is a biotechnology company and drug-delivery platform innovator focused on out-licensing its disruptive delivery technology, which promotes healthier ingestion methods. LXRP holds a patent for the oral delivery of all cannabinoids and has a growing IP portfolio that includes 10 patents granted in the United States and Australia, with more than 50 patent applications worldwide across 10 patent families. DehydraTECH is its proprietary absorption technology platform.

For more information, visit the company’s website at www.LexariaBioscience.com

About HempWire

HempWire (HW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) HempNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, HW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. HW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, HW brings its clients unparalleled visibility, recognition and brand awareness. HW is where news, content and information converge.

To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.hempwire.com

Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/disclaimer/

Do you have a questions or are you interested in working with HW? Ask our Editor

HempWire (HW)
Denver, Colorado
www.hempwire.com
303.498.7722 Office
Editor@HempWire.net

Chris@HW

Share
Published by
Chris@HW

Recent Posts

Restrictions, State Bans Threaten the Thriving Market for Hemp-Sourced Intoxicants

Legislators in states across the country are working towards strictly regulating and/or banning intoxicating hemp…

2 months ago

Senate Panel in Florida Starts Discussing Bill Restricting Hemp Products

A proposal introduced by Sen. Colleen Burton that would ban delta-8 THC hemp products is…

2 months ago

California Extends Prohibition of Hemp Products with THC

California recently extended a ban on intoxicating hemp products with THC that was set to…

2 months ago

Poll Finds More Consumers Want to Use Hemp Delivery Services

A new poll has determined that frequent consumers of marijuana like using delivery platforms to…

2 months ago

Hemp Seeds Are Attracting Attention as an Alternative Source of Protein

The demand for plant-based proteins has increased in the last couple of years as consumer…

2 months ago

UK Approves 5 CBD Applications, Doubles Down on 10mg Cap

The CBD market in the United Kingdom has grown since the compound’s extracts were designated…

2 months ago