Biotechnology company and drug delivery platform innovator Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP) today announced that its wholly owned subsidiary, Lexaria Nicotine LLC, has entered into a definitive agreement with Altria Group Inc. (NYSE: MO) to fund the research and development of Lexaria’s patented DehydraTECH technology. The company’s DehydraTECH enhances the performance of ingestible products’ beneficial compounds across four categories that include taste and smell, speed of action, bio-absorption and bioavailability. According to the update, the partnership will explore innovation in oral, reduced-risk nicotine products for consumers, as well as potentially commercialize DehydraTECH for oral nicotine delivery. “This is an incredible milestone for Lexaria Bioscience and our shareholders,” Lexaria Bioscience CEO Chris Bunka said in the news release. “We are proud that Altria has chosen to invest in our DehydraTECH technology and look forward to reaping the benefits of working with a world-class partner. Together we have the opportunity to change nicotine delivery and make a difference in the lives of millions of consumers.”
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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 quicker onset of lipophilic active molecules. Lexaria has ten patents granted in the USA and in Australia and has filed over 50 patent applications worldwide across ten patent families. Lexaria’s technology provides 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. Lexaria Nicotine LLC is a United States domiciled, majority-owned subsidiary of Lexaria Bioscience Corp., focused on reduced-risk nicotine solutions www.LexariaNicotineco.com. For more information, visit the company’s website at www.LexariaBioscience.com.
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