Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Acquires a $12 Million Investor

  • Lexaria Nicotine LLC partners with one of the world’s largest tobacco companies
  • Opportunity to change nicotine delivery and improve the lives of millions
  • Retains ownership of DehydraTECH while licensing the technology out to multiple industries

Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) recently announced that its wholly owned subsidiary, Lexaria Nicotine LLC, has partnered with one of the world’s largest tobacco companies to fund the research and development of Lexaria’s patented DehydraTECH (http://cnw.fm/w86Vf). The partnership may potentially commercialize this cutting-edge technology for oral nicotine delivery.

Chris Bunka, CEO of Lexaria Bioscience, is excited about the opportunity to work with a world-class partner. In a recent press release, Bunka stated, “Together we have the opportunity to change nicotine delivery and make a difference in the lives of millions of consumers.”

Lexaria’s goal is to create an oral product that eliminates the need for inhalation and helps curb the smoking habits of consumers. Over six million deaths a year worldwide are attributed to nicotine delivery through smoking. The company believes that its DehydraTECH technology may help the 69 percent of U.S. adult smokers who want to quit move from cigarettes to a safer, more effective delivery of nicotine (http://cnw.fm/FNoN7). This new partnership allows for further research and development into oral, reduced-risk nicotine consumer products.

In exchange for a minority equity interest in Lexaria’s nicotine subsidiary, the partner will fund up to $12 million through multiple phased private financings for Lexaria Nicotine LLC to conduct further research and development. Assuming nicotine products using DehydraTECH become available to consumers, Lexaria Nicotine will receive a royalty on revenue generated. The partner has been given exclusive license rights to commercialize oral nicotine products in the United States and nonexclusive rights for global commercialization. The partner also holds the option to acquire ownership of the subsidiary and has the right to appoint one of seven directors to the subsidiary’s board of directors, with the potential to appoint additional directors in the future.

Lexaria has created a number of individual subsidiaries, such as Lexaria Nicotine, that allow the company to retain ownership of DehydraTECH technology and license its use to multiple industries. This innovative oral technology improves the taste, smell, rapidity and delivery of bioactive compounds, which allows for the delivery of substances within edible food products rather than the traditional unhealthy practice of smoking.

DehydraTECH works as an enabling technology rather than a competing one, thereby allowing partnerships within multiple industries. Currently, the technology is patent protected for cannabidiol and all other non-psychoactive cannabinoids. Patents are pending for THC, nonsteroidal anti-inflammatory drugs (NSAIDs), nicotine, other psychoactive cannabinoids and other molecules. Lexaria has a total of 10 patents issued with over 50 more pending.

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

About PsychedelicNewsWire

PsychedelicNewsWire (PNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) PsychedelicNewsBreaks 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, PNW 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. PNW 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, PNW brings its clients unparalleled visibility, recognition and brand awareness. PNW is where news, content and information converge.

Receive Text Alerts from PsychedelicNewsWire: Text “Cannabis” to 888-902-4192

For more information please visit https://www.psychedelicnewswire.com and or https://PsychedelicNewsWire.News

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

PsychedelicNewsWire (PNW)
San Francisco, California
www.psychedelicnewswire.com
415.949.5050 Office
Editor@PsychedelicWire.com

Archives

Select A Month

PsychedelicNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 415.949.5050