- LXRP subsidiary Lexaria Nicotine LLC enters definitive investment agreement with large tobacco company to receive R&D funding in exchange for licensing and equity
- Partner has provided initial $1 million – with an option for up to $11 million more – for research on DehydraTECH’s oral forms of nicotine delivery through a series of private financings
- LXRP still retains majority equity ownership of Lexaria Nicotine, while partner receives a minority equity interest in the subsidiary, not in LXRP itself
Lexaria Bioscience Corp.’s (CSE: LXX) (OTCQX: LXRP) DehydraTECH absorption platform will receive a significant injection of R&D financing under an investment agreement that wholly owned subsidiary Lexaria Nicotine LLC has entered into with a large tobacco partner. LXRP has initially received $1 million toward its research on nicotine consumer products that use DehydraTECH (http://nnw.fm/A0iyv).
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…
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