- LXRP’s DehydraTECH research funded by a partner that will provide $1 million, with an option for millions more
- LXRP subsidiary Lexaria Nicotine LLC recently entered a definitive investment agreement to receive R&D funding in exchange for equity and licensing rights
- In exchange, partner received minority equity interest in the subsidiary
Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) will conduct a comprehensive series of clinical studies on oral forms of nicotine delivery utilizing its DehydraTECH absorption platform. 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 (http://nnw.fm/A0iyv).
Lexaria’s partner will receive certain licensing rights to commercialize these DehydraTECH products exclusively in the United States and non-exclusively on a global scale. The partner, which will have the option to provide up to…
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