Lexaria Bioscience’s (CSE: LXX) (OTCQX: LXRP) wholly owned
subsidiary, Lexaria Nicotine LLC, recently struck a deal with a large tobacco
partner, securing significant R&D financing for the company’s DehydraTECH
absorption platform (http://ibn.fm/Kx7Cm).
A recent article discussing the company reads, “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.”
To view the full article, visit http://ibn.fm/NeyAI
About Lexaria Bioscience Corp.
Lexaria Bioscience 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 10
patents granted in the United States and Australia, and has filed over 50
patent applications worldwide across 10 patent families. Lexaria’s technology
provides more rapid delivery to the bloodstream, as well as important
taste-masking benefits for orally administered bioactive molecules including
cannabinoids, vitamins, nonsteroidal anti-inflammatory drugs (NSAIDs), nicotine
and other molecules. For more information, visit the company’s website at www.LexariaBioscience.com
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