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Lexaria Bioscience Corp. (CSE: LXX) (OTCQB: LXRP) Begins Laboratory Venture with National Research Council

  • Collaborative venture could lead to strengthening of company’s patent portfolio, new commercial opportunities
  • Firm receives patent in Australia, anticipates entering that market through cannabinoid licensing arrangements and product distribution partnerships
  • LXRP names Allan Spissinger acting chief financial officer

Lexaria Bioscience Corp. (CSE: LXX) (OTCQB: LXRP) has begun laboratory work with the National Research Council (“NRC”) (http://cnw.fm/Lp8bB). The collaboration will begin studies using LXRP’s patented technologies. The research will include the company’s technology in vitamins, NSAIDs, nicotine and cannabinoids utilizing lipophilic active agents. LXRP has patented technology involving how those agents are ingested into the human body in various edibles, such as beverages, foods, capsules and others means.

LXRP has also named Allan Spissinger (http://cnw.fm/YbH0K) as its acting chief financial officer, secretary and treasurer. He has been with the company since September 2014, when he joined as corporate controller. A CPA, he has more than 10 years’ experience in corporate IT infrastructure and software development before focusing of finance and accounting.

The firm, based in Kelowna, British Columbia, Canada, is a food biosciences company which is a technology disrupter for edible CBDs. It markets a high absorption hemp oil formulation for exotic teas, protein energy bars and high absorption hemp oil capsules that aid in the body’s absorption of CBDs. It is focusing on developing more products for the edible cannabis market.

The joint research venture with the NRC will use advanced analytical techniques. Practical application of the resulting research could broaden or strengthen LXRP’s intellectual property portfolio and even lead to additional commercial arrangements, per a recent statement from the company.

LXRP has a number of international patents, including the recent 20-year effective patent approval issued by Australia (http://cnw.fm/w3S7Q) for the company’s edible cannabis absorption method, time of onset and taste of cannabinoid’s active agents in food.

“We are very pleased to have received this patent which effectively covers all cannabis oil extract formulated edibles using our technology in Australia,” Chris Bunka, chief executive officer of LXRP, stated in a news release. “This patent award allows us to confidently enter the recently legalized Australian cannabis marketplace where we will seek additional licensing and product distribution partnering opportunities.”

A similar patent was granted in the U.S. in 2016, and Bunka added that LXRP anticipates progress on its patent portfolios throughout the remainder of 2017 and into 2018. In the U.S., the company successfully filed a provisional patent application (http://cnw.fm/Q4eQy) and stock and option awards in June 2017. It expands the company’s existing patent in the U.S. to microwave processing.

For more information, visit the company’s website at www.LexariaEnergy.com

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