Newest granted patent expands worldwide patent portfolio to 24
Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms announces it has been granted a new patent entitled "Compositions Infused with Nicotine Compounds and Methods of Use Thereof".
The new Australian patent expands upon Lexaria's international intellectual property rights to apply DehydraTECH enhancement technology to most oral forms of nicotine, including pills, tablets, lozenges, capsules, pouches, gums and sprays. The patent covers many different forms of nicotine including free base nicotine, nicotine salts, polymer resins of nicotine and other forms of nicotine complexes.
Given the rapid progress Lexaria is making towards development of world-leading oral nicotine products, the intellectual property protection afforded by this patent and other similar patent applications, could be meaningful towards building value.
In news announced on October 5, 2021, Lexaria demonstrated in its animal study NIC-A21-1 that nicotine oral pouches using DehydraTECH technology were 10x to 20x faster in reaching peak delivery of nicotine to bloodstream than controls. Findings using a DehydraTECH nicotine benzoate formulation relative to a concentration-matched control from that study are shown in the figure below.
This is Lexaria's 24th overall granted patent receipt and is noteworthy for a number of reasons including it is the first patent awarded from Lexaria's 8th patent family. At times in Lexaria's history, the granting of a first patent in a new patent family has led to additional subsequent patents from within that same family. Corresponding patent applications are pending within this patent family elsewhere in the world including in the United States. A total of 9 claims have been awarded within this patent granted by the government of Australia that has an expiration date of April 9, 2039.
In other news, Lexaria announces that it has issued an aggregate 36,700 stock options to a total of six employees, consultants and independent directors bearing an exercise price of US$3.39 for a period of five years ending March 8, 2027 (collectively the "Options"). The Options were issued pursuant to the Company's registered Incentive Equity Plan and any common shares issued upon the exercise of the Options will be unrestricted securities.
About Lexaria Bioscience Corp.
Lexaria Bioscience Corp.'s patented drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids and nicotine by 5-10x and, in some instances with cannabinoids by as much as 27x compared to standard industry formulations, reduce time of onset from 1 - 2 hours to minutes, and mask unwanted tastes; and is also being evaluated for orally administered antiviral drugs, non-steroidal anti-inflammatory drugs (NSAIDs), 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 24 patents granted and over 50 patents pending worldwide.
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