NetworkNewsBreaks – Lexaria Bioscience Corp. (CS
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Posted On: 03/04/2019 3:31:37 PM
NetworkNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) to Conduct Clinical Studies on Oral Nicotine Delivery Utilizing DehydraTECH Absorption Platform
Lexaria Nicotine LLC, a subsidiary of Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP), recently secured research and development (“R&D”) funding in exchange for equity and licensing rights. Utilizing its DehydraTECH absorption platform, Lexaria will execute a wide-ranging series of clinical studies on oral forms of nicotine delivery. A recent article discussing the company reads, “Under an investment agreement by its wholly owned subsidiary, Lexaria Nicotine LLC, a partner, will provide $1 million toward research on nicotine consumer products that use DehydraTECH(TM) (http://nnw.fm/A0iyv). . . Lexaria’s partner will receive certain licensing rights to commercialize these DehydraTECH products exclusively in the United States and nonexclusively on a global scale. The partner, which will have the option to provide up to $12 million in additional funding to underwrite LXRP’s R&D, will pay LXRP a royalty on sales. The partner company will receive minority equity in the subsidiary and future rights to purchase a 100 percent interest in Lexaria Nicotine LLC at then-current fair market value but not in LXRP itself.”
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Lexaria Nicotine LLC, a subsidiary of Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP), recently secured research and development (“R&D”) funding in exchange for equity and licensing rights. Utilizing its DehydraTECH absorption platform, Lexaria will execute a wide-ranging series of clinical studies on oral forms of nicotine delivery. A recent article discussing the company reads, “Under an investment agreement by its wholly owned subsidiary, Lexaria Nicotine LLC, a partner, will provide $1 million toward research on nicotine consumer products that use DehydraTECH(TM) (http://nnw.fm/A0iyv). . . Lexaria’s partner will receive certain licensing rights to commercialize these DehydraTECH products exclusively in the United States and nonexclusively on a global scale. The partner, which will have the option to provide up to $12 million in additional funding to underwrite LXRP’s R&D, will pay LXRP a royalty on sales. The partner company will receive minority equity in the subsidiary and future rights to purchase a 100 percent interest in Lexaria Nicotine LLC at then-current fair market value but not in LXRP itself.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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