Biotechnology company and drug delivery platform innovator
Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP) today announced that its wholly
owned subsidiary, Lexaria Nicotine LLC, has entered into a definitive agreement
with Altria Group Inc. (NYSE: MO) to fund the research and development of
Lexaria’s patented DehydraTECH technology. The company’s DehydraTECH enhances
the performance of ingestible products’ beneficial compounds across four
categories that include taste and smell, speed of action, bio-absorption and
bioavailability. According to the update, the partnership will explore
innovation in oral, reduced-risk nicotine products for consumers, as well as
potentially commercialize DehydraTECH for oral nicotine delivery. “This is an
incredible milestone for Lexaria Bioscience and our shareholders,” Lexaria
Bioscience CEO Chris Bunka said in the news release. “We are proud that Altria
has chosen to invest in our DehydraTECH technology and look forward to reaping
the benefits of working with a world-class partner. Together we have the
opportunity to change nicotine delivery and make a difference in the lives of
millions of consumers.”
To view the full press release, visit http://ibn.fm/eWaBc
About Lexaria Bioscience Corp.
Lexaria Bioscience Corp. has developed and out-licenses its
disruptive delivery technology that promotes healthier ingestion methods, lower
overall dosing and quicker onset of lipophilic active molecules. Lexaria has
ten patents granted in the USA and in Australia and has filed over 50 patent
applications worldwide across ten patent families. Lexaria’s technology
provides more rapid delivery to the bloodstream; and important taste-masking
benefits, for orally administered bioactive molecules including cannabinoids,
vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other
molecules. Lexaria Nicotine LLC is a United States domiciled, majority-owned
subsidiary of Lexaria Bioscience Corp., focused on reduced-risk nicotine
solutions www.LexariaNicotineco.com.
For more information, visit the company’s website at www.LexariaBioscience.com.
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