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NetworkNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Secures Up to $12M Altria Group Investment in DehydraTECH Technology
Biotechnology company and drug delivery platform innovator Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP) today announced that its wholly owned subsidiary, Lexaria Nicotine LLC, has entered into a definitive agreement with Altria Group Inc. (NYSE: MO) to fund the research and development of Lexaria’s patented DehydraTECH technology. The company’s DehydraTECH enhances the performance of ingestible products’ beneficial compounds across four categories that include taste and smell, speed of action, bio-absorption and bioavailability. According to the update, the partnership will explore innovation in oral, reduced-risk nicotine products for consumers, as well as potentially commercialize DehydraTECH for oral nicotine delivery. “This is an incredible milestone for Lexaria Bioscience and our shareholders,” Lexaria Bioscience CEO Chris Bunka said in the news release. “We are proud that Altria has chosen to invest in our DehydraTECH technology and look forward to reaping the benefits of working with a world-class partner. Together we have the opportunity to change nicotine delivery and make a difference in the lives of millions of consumers.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Biotechnology company and drug delivery platform innovator Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP) today announced that its wholly owned subsidiary, Lexaria Nicotine LLC, has entered into a definitive agreement with Altria Group Inc. (NYSE: MO) to fund the research and development of Lexaria’s patented DehydraTECH technology. The company’s DehydraTECH enhances the performance of ingestible products’ beneficial compounds across four categories that include taste and smell, speed of action, bio-absorption and bioavailability. According to the update, the partnership will explore innovation in oral, reduced-risk nicotine products for consumers, as well as potentially commercialize DehydraTECH for oral nicotine delivery. “This is an incredible milestone for Lexaria Bioscience and our shareholders,” Lexaria Bioscience CEO Chris Bunka said in the news release. “We are proud that Altria has chosen to invest in our DehydraTECH technology and look forward to reaping the benefits of working with a world-class partner. Together we have the opportunity to change nicotine delivery and make a difference in the lives of millions of consumers.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer