- 2022 saw Lexaria introduce its patented DehydraTECH(TM) technology to world-leading collaborators while also exploring DehydraTECH-CBD for the potential treatment of hypertension
- It also saw success in its research for the potential treatment of conditions such as epilepsy, making the year Lexaria’s most active one yet
- Significant progress was made on key objectives in 2022, a feat which the company plans to capitalize on and leverage to scale up the commercial execution of its technology in 2023
- To facilitate this, Lexaria has brought on board Julian Gangolli, former President of GW Pharmaceuticals USA, as a strategic advisor. Chris Bunka, Lexaria’s CEO, anticipates 2023 to be the “best year ever”
Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has set its focus on the commercial execution of its robust patented DehydraTECH(TM) technology portfolio for the 2023 calendar year. The company plans to capitalize on the success of 2022, which saw the fulfillment of primary objectives.
In 2022, Lexaria introduced DehydraTECH to world-leading collaborators and explored DehydraTECH-processed CBD for the potential treatment of hypertension. The company also saw success in its research for the potential treatment of conditions such as epilepsy making the year Lexaria’s most successful yet (https://cnw.fm/KUDGq). The progress made sets the stage for the company to explore even bigger goals in 2023.
So far, animal studies have demonstrated a propensity for DehydraTECH technology to elevate the quantity of drug delivered across the blood-brain barrier by as much as 1,900% (https://cnw.fm/lNnVe). In addition, in the recent EPIL-A21-1 clinical study on the use of DehydraTECH-CBD for the potential treatment of epilepsy, the technology demonstrated performance enhancements, particularly compared to one of the world’s leading anti-seizure medications, Epidiolex(R).
This, and other findings over the course of 2022, validated Lexaria’s efforts and clinical trials, reflecting the company’s commitment to addressing current underserved medical needs. It is this commitment that the company intends to pursue in the new year in what Chris Bunka, the CEO, anticipates to be the “best year ever.”
Lexaria now has its eyes set on scaling up the commercial execution of its technology. To facilitate this, it has brought on board Julian Gangolli as a Strategic Advisor. Gangolli, the former President of GW Pharmaceuticals USA, will lend his knowledge and expertise, having overseen the approval by the US Food and Drug Administration (“FDA”) of Epidiolex, the first and only pure cannabidiol (“CBD”) drug ever approved by the regulating body.
“I am excited to be advising Lexaria Bioscience as it has become an established force in the field of improved drug delivery,” Julian noted.
“As with GW Pharmaceutical’s innovations in the cannabinoid field, the potential of Lexaria’s disruptive drug delivery technology is significant and I hope to assist Lexaria in its commercial development of DehydraTECH for multiple applications,” he added (https://cnw.fm/qKar6).
Gangolli has also previously served as the North American President of Allergan and a member of their executive management team that oversaw the sale of Allergan to Actavis back in 2015, and has served as a senior member of the Allergan management team since 1998, helping to transform the company into one of the leading specialty pharmaceutical companies in the United States.
“I am very pleased to welcome Julian, with his extensive pharmaceutical experience, to the broadening Lexaria team,” noted Mr. Bunka.
With Julian’s help, Lexaria looks to achieve FDA Registration for an Investigational New Drug (“IND”) program that will kickstart a Phase 1(b) FDA-registered clinical trial exploring the safety and tolerability of DehydraTECH-CBD as a treatment for hypertension. This, the company projects will dominate the second half of the 2023 calendar year, even as the company works toward the filing of a new drug application (“NDA”) via the abbreviated 505(b)(2) pathway.
For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX
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