Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, has awarded licensing of its proprietary DehydraTECH(TM) offering for development in Japan to Premier Wellness Science Co. Ltd, a wholly owned subsidiary of Premier Anti-Aging Co. Ltd. LEXX announced that Premier is purchasing exclusive rights to DehydraTECH technology for the Japanese nonpharmaceutical market; the company will use the tech in oral liquid and nonliquid products, as well as for topical, hair-care, lip-care and cosmetics products. According to the announcement, Lexaria will receive minimum payments of $4,527,500 over the next five years, as all well as royalties from the sales of products made with DehydraTECH, which the company anticipates could be significantly greater than the minimum payments. In addition, the two companies agreed to explore the possibility of R&D collaborations. An official from Premier noted that the company partnered with Lexaria based on DehydraTECH’s superior performance and the extensive data available through Lexaria’s years of testing. “Lexaria is delighted to be working with Premier Wellness Science, which we expect will dominate the newly opening Japanese market for CBD-based products,” said Lexaria CEO Chris Bunka in the press release. “Premier and Lexaria share similar philosophies, such as the provision of world-leading products created through scientific advantages and placing the consumer’s needs ahead of our own. We could not have found a better partner with which to introduce DehydraTECH-enabled products to the Japanese markets.”
For more information, view the full press release
About Lexaria Bioscience Corp.
Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 25 patents granted and more than 50 patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://ibn.fm/LEXX
About MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
