- Lexaria Bioscience is dedicated to providing healthful alternatives to drug-substance inhalation by providing an edible technology that works as effectively as smoking or vaping at getting substances into the bloodstream
- The company’s DehydraTECH platform has been licensed to multiple companies in the cannabis and tobacco industries, and Canada’s recent nationwide legalization of cannabis edibles is expected to open even more of a market
- Gregg Smith, the founder of a New York-based “culture tech” venture investment firm, has joined Lexaria as a senior advisor to help define the company’s leadership strategies
Innovations in drug delivery are making the wellness product market safer and more effective in its niche as an alternative to costly pharmaceuticals or foreign remedies that lack governmental approval. Bio-delivery technology developer Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) is a world leader in edible drug science to combat the ills of substances that might otherwise be inhaled into the lungs.
Lexaria’s proprietary DehydraTECH™ drug delivery platform is patented to work with existing substances such as nicotine, cannabidiol (CBD) and other non-psychoactive and psychoactive cannabinoids to get orally ingestible versions of the substances into the bloodstream at speeds comparable to inhaled products, virtually eliminating a key reason people might risk sustained injury to their lungs to use those products.
“Wherever there are many victims from past injustices, there is a lot of anger and resentment that doesn’t go away easily,” CEO Chris Bunka told Forbes in discussing Lexaria’s aim to get nicotine users to move away from “life-threatening” smoking habits to satisfy their cravings (http://cnw.fm/qZ3uV). “My father also died from lung cancer just last year, so I am no fan. … The fact that (DehydraTECH) is fast means that smokers might not be frustrated waiting for their nicotine experience to begin, the way they have been with traditional nicotine products such as gums and lozenges.”
Lexaria recently announced the appointment of Gregg Smith, the founder of a New York-based “culture tech” venture investment firm, as a senior advisor in helping define Lexaria’s leadership strategies.
“I am passionate about creating a smokeless future and recognize that the consumption methods of nicotine and cannabis will change,” Smith stated in the news release (http://cnw.fm/KaCZ3). “Lexaria’s technology, DehydraTECH™, will completely disrupt and improve the consumption and delivery of oral nicotine, CBD and cannabis. Lexaria’s recognition of the recent FDA recognition of certain oral delivery forms of nicotine as ‘less harmful’ to human health than combustible smoking will be a driving force of changing consumer preferences.”
One strategy Lexaria has already been pursuing includes introducing DehydraTECH-licensed products to consumers through adult-format beverages, building on a relationship with Toronto-based Hill Street Beverage Company Inc. (TSX.V: BEER), a company renowned for its alcohol-free beers and wines.
“Our alcohol-free business continues to grow as more and more people turn away from alcohol and look for better alternatives. But we’re more than just the world’s most award-winning alcohol-free beverage company,” Hill Street’s website states (http://cnw.fm/9ypVR). “We’ve licensed a technology that allows us to take that award-winning adult-beverage portfolio and infuse it with cannabis… without any impact to the smell or the taste of the product.”
Canada legalized cannabis-infused edibles and beverages in October, and the first products are expected to begin hitting store shelves soon (http://cnw.fm/gO9rD).
Market analysts at Deloitte predict the Canadian market for edibles and alternative cannabis products alone will be worth $2.7 billion a year, and that cannabis extract-based products including edibles will make up nearly 60 percent of the total at $1.6 billion (http://cnw.fm/v5mZK).
Lexaria has already licensed its technology to multiple companies in North America in the cannabis and tobacco industries. The company operates a licensed in-house research laboratory and its IP portfolio includes 16 patents granted and over 60 patents pending worldwide.
For more information, visit the company’s website at www.LexariaBioscience.com
NOTE TO INVESTORS: The latest news and updates relating to LXRP are available in the company’s newsroom at http://cnw.fm/LXX
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