- Lexaria recently announced its entry into a partnership with a tobacco giant to fund the research and development of oral nicotine delivery solutions
- The company received a cannabis R&D license from Health Canada
- LXRP also announced its receipt of four new patents and its launch of ChrgD+
Many consumers don’t realize that they don’t need to smoke to partake of nicotine. In fact, new advancements are providing an alternative to the risks associated with smoking, which were first officially revealed by a damning surgeon general report in 1963 linking smoking to lung cancer, emphysema and heart disease. Case in point, Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) has developed technology that offers an alternative method of nicotine ingestion that is safer than smoking, and the company hopes to change the world for the better by eliminating the diseases caused by combusting tobacco.
The technology, known as DehydraTECH, is a patented, cost-effective delivery mechanism that has been shown to improve the ingestibility of cannabinoids, vitamins, nonsteroid anti-inflammatory drugs (NSAIDs) and nicotine. Now, Lexaria has partnered with one of the world’s largest tobacco firms to develop new, reduced-risk, oral nicotine products using the technology (http://cnw.fm/8nSR1).
The deal funds Lexaria’s R&D program – and consumer product development – in exchange for certain DehydraTECH license rights and a minority equity interest in Lexaria Nicotine, a wholly owned subsidiary of Lexaria Bioscience Corp. An initial tranche of $1 million has been provided, with additional phases providing up to $12 million total. Lexaria has granted a license for its technology to be used in nicotine-based oral-format products on an exclusive basis in the United States and a nonexclusive basis elsewhere globally, for which it will receive royalties on every dollar of revenue generated utilizing its technology.
The strength of the relationship is evident from the recent appointment of Brian Quigley to the Lexaria board of directors. Most recently, Quigley spent 16 years at the tobacco giant, with seven of those years as president and CEO of a major business unit. He is a 20-year veteran of the consumer packaged-goods industry and has managed complex regulatory environments, including those for nicotine products (http://cnw.fm/iHl0o).
Lexaria also recently announced that it had been issued a cannabis R&D license by Health Canada, with a four-year term extending to August 9, 2023 (http://cnw.fm/eEt9d). The new license will allow one of the country’s newest and most-advanced laboratories to conduct extensive investigatory work in both THC and CBD delivery using proprietary, optimized formulations and techniques. The laboratory was purpose built, is permitted at local and federal levels, and is fully outfitted with equipment required to produce DehydraTECH infusions, including two different methodologies of creating nano-sized molecules.
The Health Canada license came at an opportune time. Lexaria recently announced the receipt of four new patents (http://cnw.fm/lQl2x), bringing the company’s issued patent total to 15 (eight in the United States and seven in Australia), with roughly 60 patent applications still pending throughout the world. The granted patents cover delivery of cannabinoids such as THC and CBD; NSAIDs such as ibuprofen; nicotine; and a range of vitamins.
The DehydraTECH technology has already been deployed with the launch of ChrgD+, a water-soluble, ready-mix hemp supplement powder that can be added to a variety of beverages, hot or cold (http://cnw.fm/jGk5h). At just two grams per pouch, ChrgD+ packets can be carried discreetly in a shirt pocket or purse and consumed anywhere in a soft drink, coffee or other beverage. ChrgD+ is nearly flavorless and odorless and offers minimal impact to taste; users experience a delightful food-grade pearlescent sparkle effect to remind them that they are getting its benefits.
For more information, visit the company’s website at www.LexariaBioscience.com
NOTE TO INVESTORS: The latest news and updates relating to LXRP are available in the company’s newsroom at http://cnw.fm/LXRP
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