Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug delivery platforms, today announced the signing of two agreements with Atlanta-based BevNology LLC. According to the update, the first manufacturing operating agreement expands production capabilities for Lexaria’s own growing list of business-to-business (“B2B”) clientele interested in purchasing DehydraTECH-powered active ingredients for consumer packaged-goods brands. A new, state-of-the-art processing facility custom-built by BevNology is operational that increases and broadens production capacity and is currently serving Lexaria’s corporate clients. The second commercial license agreement empowers BevNology to offer DehydraTECH products with active ingredients derived from hemp including cannabidiol (“CBD”) under BevNology and partnered brands. “These agreements build on a long-standing and very successful product development consulting relationship between Lexaria and the expert scientists and personnel at BevNology,” said Chris Bunka, CEO of Lexaria. “BevNology’s formulation and production capabilities are class leading and we are confident that our new relationship with our trusted partner will propel new and exciting growth opportunities for both companies.”
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About Lexaria Bioscience Corp.
Lexaria’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 over 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.
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