Lexaria Bioscience Corp. (NASDAQ: LEXX) Celebrates
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Posted On: 08/08/2023 5:19:42 PM
Lexaria Bioscience Corp. (NASDAQ: LEXX) Celebrates ‘Strategically Important’ New Patent Granted in the US
- Lexaria recently celebrated the receipt of its 35th overall granted patent worldwide when the USPTO recently awarded US patent #11,700,875, titled “Compositions and Methods For Sublingual Delivery of Nicotine”
- The company described the new patent as “strategically important”
- The patent positions the company to tap into the growing oral nicotine market and offers protection in one of the world’s leading oral nicotine markets
- This patent could also lead to additional subsequent patents from within this family
- Lexaria’s DehydraTECH-nicotine formulation is patent granted for oral nicotine delivery in the US, Canada, and Australia
When Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, announced receipt of an Australian patent on March 8, 2022 (https://nnw.fm/7OBIk ), its resolve to continue expanding its intellectual property (“IP”), particularly within the oral nicotine sector, received a significant boost. The then-new Australian patent had expanded upon the company’s IP rights to apply its DehydraTECH(TM) technology platform to most oral forms of nicotine. Still, the company intended to continue growing its existing portfolio, expanding IP protection to multiple other jurisdictions.
Motivated, Lexaria filed a new patent application with the United States Patent and Trademark Office (“USPTO”) shortly thereafter on March 22. And, more than a year later, the application has proven successful, with the company recently celebrating the receipt of the patent granted, US patent #11,700,875, titled “Compositions and Methods For Sublingual Delivery of Nicotine” (https://nnw.fm/tRtGV ).
The new US patent covers various forms and sources of nicotine, including nicotine benzoate, nicotine polacrilex, nicotine citrate, nicotine detartrate, and many others, for use in sublingual delivery formats like oral pouches. And while the title alludes to sublingual delivery, the patent document published by the USPTO discloses that “the terms ‘sublingual’ and ‘buccal’ are used interchangeably… Therefore, the disclose compositions can be absorbed in any manner chosen by the user” (https://nnw.fm/abgl9 ).
The new US patent is remarkable and “strategically important” in many ways. First, it is the company’s 35th overall granted patent worldwide and the 13th granted in the United States. Second, a total of 30 claims were awarded within this patent, the highest number of claims accepted by the USPTO in the company’s existing portfolio. And with researchers agreeing that patents with a higher number of claims are better protected and can be an important measure of a patent’s value (https://nnw.fm/e14zQ ), the claims increase the value of the new patent and perhaps even the company’s entire IP portfolio.
Third, and as the company wrote in its March 2022 press release, “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,” the new US patent could lead to the award of patents within this family in other countries. In fact, this statement was confirmed recently, albeit with a different patent family. In June, Lexaria announced it had been granted a new Canadian patent under Patent Family #8: “Compositions Infused with Nicotine Compounds and Methods of Use Thereof,” the second within this family after the Australian patent granted last year (https://nnw.fm/LnfOg ).
Moreover, the new patent grants IP protection within the United States, one of the world’s leading oral nicotine markets, according to an analysis by the Foundation for a Smoke-Free World (https://nnw.fm/kGqIM ). The US nicotine pouches market is projected to grow at a 33% CAGR between 2023 and 2030 (https://nnw.fm/OgmCe ).
But beyond the United States, and given that the company’s DehydraTECH-nicotine formulation is also patent granted for oral nicotine delivery in Canada and Australia, with numerous applications pending in other jurisdictions, Lexaria is ideally positioned to tap into the growing global oral nicotine market. Analysts at Market Research project the global nicotine pouches market to grow at a 13.4% CAGR between 2023 and 2029, reaching a value of $11.91 billion at the end of the forecast period, up from $4.69 billion in 2022 (https://nnw.fm/S50ya ).
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://nnw.fm/LEXX
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- Lexaria recently celebrated the receipt of its 35th overall granted patent worldwide when the USPTO recently awarded US patent #11,700,875, titled “Compositions and Methods For Sublingual Delivery of Nicotine”
- The company described the new patent as “strategically important”
- The patent positions the company to tap into the growing oral nicotine market and offers protection in one of the world’s leading oral nicotine markets
- This patent could also lead to additional subsequent patents from within this family
- Lexaria’s DehydraTECH-nicotine formulation is patent granted for oral nicotine delivery in the US, Canada, and Australia
When Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, announced receipt of an Australian patent on March 8, 2022 (https://nnw.fm/7OBIk ), its resolve to continue expanding its intellectual property (“IP”), particularly within the oral nicotine sector, received a significant boost. The then-new Australian patent had expanded upon the company’s IP rights to apply its DehydraTECH(TM) technology platform to most oral forms of nicotine. Still, the company intended to continue growing its existing portfolio, expanding IP protection to multiple other jurisdictions.
Motivated, Lexaria filed a new patent application with the United States Patent and Trademark Office (“USPTO”) shortly thereafter on March 22. And, more than a year later, the application has proven successful, with the company recently celebrating the receipt of the patent granted, US patent #11,700,875, titled “Compositions and Methods For Sublingual Delivery of Nicotine” (https://nnw.fm/tRtGV ).
The new US patent covers various forms and sources of nicotine, including nicotine benzoate, nicotine polacrilex, nicotine citrate, nicotine detartrate, and many others, for use in sublingual delivery formats like oral pouches. And while the title alludes to sublingual delivery, the patent document published by the USPTO discloses that “the terms ‘sublingual’ and ‘buccal’ are used interchangeably… Therefore, the disclose compositions can be absorbed in any manner chosen by the user” (https://nnw.fm/abgl9 ).
The new US patent is remarkable and “strategically important” in many ways. First, it is the company’s 35th overall granted patent worldwide and the 13th granted in the United States. Second, a total of 30 claims were awarded within this patent, the highest number of claims accepted by the USPTO in the company’s existing portfolio. And with researchers agreeing that patents with a higher number of claims are better protected and can be an important measure of a patent’s value (https://nnw.fm/e14zQ ), the claims increase the value of the new patent and perhaps even the company’s entire IP portfolio.
Third, and as the company wrote in its March 2022 press release, “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,” the new US patent could lead to the award of patents within this family in other countries. In fact, this statement was confirmed recently, albeit with a different patent family. In June, Lexaria announced it had been granted a new Canadian patent under Patent Family #8: “Compositions Infused with Nicotine Compounds and Methods of Use Thereof,” the second within this family after the Australian patent granted last year (https://nnw.fm/LnfOg ).
Moreover, the new patent grants IP protection within the United States, one of the world’s leading oral nicotine markets, according to an analysis by the Foundation for a Smoke-Free World (https://nnw.fm/kGqIM ). The US nicotine pouches market is projected to grow at a 33% CAGR between 2023 and 2030 (https://nnw.fm/OgmCe ).
But beyond the United States, and given that the company’s DehydraTECH-nicotine formulation is also patent granted for oral nicotine delivery in Canada and Australia, with numerous applications pending in other jurisdictions, Lexaria is ideally positioned to tap into the growing global oral nicotine market. Analysts at Market Research project the global nicotine pouches market to grow at a 13.4% CAGR between 2023 and 2029, reaching a value of $11.91 billion at the end of the forecast period, up from $4.69 billion in 2022 (https://nnw.fm/S50ya ).
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://nnw.fm/LEXX
Please see full terms of use and 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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