Lexaria Files New Patent Application for Delivery of Tobacco Derived Products

Spotlight News  |

Lexaria Bioscience Corp.  (LXRP) (LXX:CNX), a drug delivery platform innovator, announces the filing of a new strategic patent application.

The new provisional patent application is entitled "Lipophilic Active Agent Infused Tobacco Leaves and/or Tobacco Materials and Methods of Use Thereof". This application represents Lexaria's tenth patent family and expands the applicability of the already-patented DehydraTECHTMtechnological process to impart benefits to tobacco leaves that may be utilized to deliver compounds that may or may not include nicotine.

Through this and other patent applications under construction, the Company has a goal of managing between 150-200 patent applications around the world within two years.

Separately, Lexaria has received US$128,000from the exercise of 250,000 warrants at the price of US$0.44 and the exercise of 30,000 warrants at the price of US$0.60, previously granted to third parties who are neither officers nor directors of the Company.

No commissions or placement fees have been paid related to the funds received from these warrants exercised. Proceeds will be used for general corporate purposes.

Finally, Lexaria announces it has cancelled the contract announced on April 25 with GP Holdings LLC due to ongoing delays and non-performance.

The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Lexaria

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 eight patents granted in the USA and in Australia and has filed over 50 patent applications worldwide across ten patent families. 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.

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Companies

Symbol Name Price Change % Volume
LXRP Lexaria Bioscience Corp. 1.84 0.01 0.68 58,868
LXX:CNX Lexaria Bioscience Corp 2.40 0.06 2.56 24,305

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