Drug delivery platform innovator Lexaria Bioscience Corp. (CSE: LXX) (OTCQB: LXRP) this morning announced that it has entered a definitive technology licensing agreement with California cannabis beverage manufacturer GP Holdings LLC. Per the agreement, the company will provide its patented DehydraTECH™ technology to enable next-generation performance in high absorption, fast acting cannabis infused beverages to be developed and sold in California. The agreement grants GP five-year semi-exclusive rights to use Lexaria’s DehydraTECH™ technology for beverage applications within California for an undisclosed sum and a royalty on revenue generated on the products sold. In addition, GP has also acquired matching rights to develop topical skin products using the technology. “This is another long-term strategic relationship that will give consumers the faster acting and highly potent products they deserve, and class leading flavor profiles for the beverage segment in particular,” Lexaria CEO Chris Bunka stated in the news release.
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About Lexaria Bioscience Corp.
Lexaria Bioscience Corp. has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and has patents granted in the U.S. and Australia for utilization of its DehydraTECH™ delivery technology. Lexaria’s technology provides increases in intestinal absorption rates; more rapid delivery to the bloodstream; and important taste-masking benefits for orally administered bioactive molecules, including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. For more information, visit the company’s website at www.LexariaBioscience.com
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