LEXXW - Former President of GW Pharmaceuticals USA Joins Lexaria Bioscience as Strategic Advisor
(TheNewswire)
Kelowna, BC - TheNewswire - January 23, 2023 - Lexaria Bioscience Corp. (Nasdaq:LEXX) (Nasdaq:LEXXW) (the“Company” or “Lexaria”), a global innovator in drug deliveryplatforms is pleased to announce that the formerPresident of GW Pharmaceuticals USA, Julian Gangolli, is joiningLexaria Bioscience Corp as a Strategic Advisor.
“I am excited to be advising Lexaria Bioscience as ithas become an established force in the field of improved drugdelivery. As with GW Pharmaceutical’s innovations in the cannabinoidfield, the potential of Lexaria’s disruptive drug deliverytechnology is significant and I hope to assist Lexaria in itscommercial development of DehydraTECH for multiple applications,”said Julian Gangolli.
“As we intensify our focus during 2023 on commercialexecution of our robust DehydraTECH technology portfolio, I am verypleased to welcome Julian with his extensive pharmaceuticalexperience, to the broadening Lexaria team,” said Chris Bunka, CEOof Lexaria.
Julian Gangolli was appointed US President of GWPharmaceuticals in 2015. He oversaw approval by the US Food and DrugAdministration of the first and only pure cannabidiol (“CBD”) drugever approved by the FDA, Epidiolex®, and its subsequent successfulcommercialization in the USA. This commercial success led ultimatelyto the acquisition of GW Pharmaceuticals by Jazz Pharmaceuticals in2021 in a $7.2 billion transaction.
Mr. Gangolli was previously North American President ofAllergan and a member of their Executive Management team that oversawthe sale of Allergan to Actavis in 2015. Mr. Gangolli was a seniormember of the Allergan management team from 1998 onwards thattransformed Allergan into one of the leading specialty pharmaceuticalcompanies in the US.
Stock options valid to purchase 5,000 shares of theCompany are being issued to Mr. Gangolli with an exercise price of$2.73 per share, valid for 5 years from the date of issuance.
About Lexaria Bioscience Corp.
Lexaria Bioscience Corp.’s patented drug deliverytechnology, DehydraTECH™, improves the way active pharmaceuticalingredients (APIs) enter the bloodstream through oral delivery. Since2016, DehydraTECH has repeatedly demonstrated the ability to increasebio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors andmore. DehydraTECH has also evidenced an ability to deliver some drugsmore effectively across the blood brain barrier. Lexaria operates alicensed in-house research laboratory and holds a robust intellectualproperty portfolio with 28 patents granted and many patents pendingworldwide. For more information, please visit www.lexariabioscience.com .
CAUTION REGARDING FORWARD-LOOKINGSTATEMENTS
This press release includes forward-looking statements.Statements as such term is defined under applicable securities laws.These statements may be identified by words such as"anticipate," "if," "believe,""plan," "estimate," "expect,""intend," "may," "could," "should," "will," andother similar expressions. Such forward-looking statements in thispress release include, but are not limited to, statements by thecompany relating the Company’s ability to carry out researchinitiatives, receive regulatory approvals or grants or experiencepositive effects or results from any research or study. Suchforward-looking statements are estimates reflecting the Company's bestjudgment based upon current information and involve a number of risksand uncertainties, and there can be no assurance that the Company willactually achieve the plans, intentions, or expectations disclosed inthese forward-looking statements. As such, you should not placeundue reliance on these forward-looking statements. Factors whichcould cause actual results to differ materially from those estimatedby the Company include, but are not limited to, government regulationand regulatory approvals, managing and maintaining growth, the effectof adverse publicity, litigation, competition, scientific discovery,the patent application and approval process, potential adverse effectsarising from the testing or use of products utilizing the DehydraTECHtechnology, the Company’s ability to maintain existingcollaborations and realize the benefits thereof, delays orcancellations of planned R&D that could occur related to pandemicsor for other reasons, and other factors which may be identified fromtime to time in the Company's public announcements and periodicfilings with the US Securities and Exchange Commission on EDGAR. TheCompany provides links to third-party websites only as a courtesy toreaders and disclaims any responsibility for the thoroughness,accuracy or timeliness of information at third-party websites. Thereis no assurance that any of Lexaria’s postulated uses, benefits, oradvantages for the patented and patent-pending technology will in factbe realized in any manner or in any part. No statement herein has beenevaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat,cure or prevent any disease. Any forward-looking statements containedin this release speak only as of the date hereof, and the Companyexpressly disclaims any obligation to update any forward-lookingstatements or links to third-party websites contained herein, whetheras a result of any new information, future events, changedcircumstances or otherwise, except as otherwise required bylaw.
INVESTOR CONTACT:
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