Lexaria Nicotine LLC, a subsidiary of Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP), recently secured research and development (“R&D”) funding in exchange for equity and licensing rights. Utilizing its DehydraTECH absorption platform, Lexaria will execute a wide-ranging series of clinical studies on oral forms of nicotine delivery. A recent article discussing the company reads, “Under an investment agreement by its wholly owned subsidiary, Lexaria Nicotine LLC, a partner, will provide $1 million toward research on nicotine consumer products that use DehydraTECH(TM) (http://nnw.fm/A0iyv). . . . Lexaria’s partner will receive certain licensing rights to commercialize these DehydraTECH products exclusively in the United States and nonexclusively on a global scale. The partner, which will have the option to provide up to $12 million in additional funding to underwrite LXRP’s R&D, will pay LXRP a royalty on sales. The partner company will receive minority equity in the subsidiary and future rights to purchase a 100 percent interest in Lexaria Nicotine LLC at then-current fair market value but not in LXRP itself.”
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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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