Kelowna, British Columbia - TheNewswire - August 13, 2019 - Lexaria Bioscience Corp. (OTCQX:LXRP) (CNSX:LXX.CN) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, is pleased to announce that its subsidiary, Lexaria CanPharm ULC., has been issued cannabis Research and Development ("R&D") license LIC-7NONT76UNW-2019 by Health Canada with a four-year term until August 9, 2023 unless renewed.
Lexaria's new cannabis R&D license is effective immediately and will allow one of the country's newest and most advanced formulation laboratories to conduct extensive investigatory work in both THC and CBD delivery using proprietary, optimized formulations and techniques. The laboratory was purpose-built, is permitted at local and federal levels, fully outfitted with equipment required to produce DehydraTECHTM infusions as well as including two different methodologies by which the Company can create nano-sized molecules when deemed beneficial and is currently operational.
Previously, Lexaria had contracted with third-party agencies and institutions to conduct much of its R&D with controlled substances. The new lab, where Lexaria recently welcomed a new full-time PhD Research Scientist on staff, will significantly accelerate many R&D programs already designed but not yet implemented.
Lexaria's state-of-the-art laboratory will for R&D purposes be producing and evaluating topical creams and lotions and many varieties of orally-ingested product formats for delivery performance characteristics of active ingredients including THC; CBD; NSAID's such as ibuprofen; PDE5-inhibitors such as those used in Viagra; nicotine; and, other molecules of interest.
"Receipt of our R&D License from Health Canada will allow us to implement and complete investigatory studies significantly more rapidly now, than at any previous time in our Company's history," said John Docherty, President and Chief Scientist of Lexaria. "This license will greatly enhance our ability to work with cannabis Licensed Producers to perform work in-house on customized formulations that could benefit each of Canada's licensed cannabis companies."
The Company plans to provide R&D updates often but cautions that it often must keep proprietary information or discoveries confidential for reasons of patent pursuit.
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 USA and in Australia for utilization of its DehydraTECHTM 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.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience Corp.
Alex Blanchard, Communications Manager
(250) 765-6424 ext. 202
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements, including but not limited to: that any additional patent protection will be realized or that patent achievements will deliver material results. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that existing capital is sufficient for the Company's needs or that it will be able to raise additional capital. There is no assurance the Company will be capable of developing, marketing, licensing, or selling edible products containing cannabinoids, nicotine or any other active ingredient. There is no assurance that any planned corporate activity, scientific research or study, business venture, letter of intent, technology licensing pursuit, patent application or allowance, consumer study, or any initiative will be pursued, or if pursued, will be successful. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease.
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