LEXXW - InvestorNewsBreaks - Lexaria Bioscience Corp. (NASDAQ: LEXX LEXXW) Announces New Subsidiary Provides Update on Nicotine Study
Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, has incorporated a new wholly owned subsidiary: Lexaria Nutraceutical Corp., or LEXX Nutra. According to the announcement, LEXX Nutra was established to support Lexaria’s overall strategy of maximizing the potential for its patented DehydraTECH(TM) technology in a variety of markets. The company issued an exclusive perpetual license to LEXX Nutra, giving the new subsidiary rights to utilize, or sublicense the use of, DehydraTECH in an array of ways, including creating consumer packaged goods (“CPG”) and/or intermediate ingredients composed of any molecule except those associated with nicotine or cannabis. LEXX Nutra is prohibited from using its license for the manufacture of any pharmaceutical product. The company also reported that dosing for its human oral nicotine study NIC-H22-1 was completed on May 8, 2023, and data amalgamation and analysis has started. Lexaria anticipates releasing results from the study in the next two weeks. The study is a human pharmacokinetic randomized, double-blinded, crossover study conducted with a minimum of 36 human volunteers who are current cigarette smokers.
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About Lexaria Bioscience Corp.
Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 35 patents granted and many patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.
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