via NetworkWire -- Lexaria Nicotine LLC, a wholly owned
subsidiary of Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX),
has entered into a definitive agreement with Altria Group Inc.
(NYSE: MO) to fund the research & development of Lexaria’s
patented DehydraTECH™ technology.
Lexaria’s DehydraTECH™ enhances the performance of beneficial
compounds in ingestible products across four categories: taste
& smell, speed of action, bio-absorption and bioavailability.
The partnership will explore innovation in oral, reduced-risk
nicotine consumer products and potentially commercialize
DehydraTECH™ for oral nicotine delivery.
"This is an incredible milestone for Lexaria Bioscience and our
shareholders. 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,” states Chris Bunka, CEO of
Lexaria Bioscience. “Together we have the opportunity to change
nicotine delivery and make a difference in the lives of millions of
consumers.”
In exchange for a minority equity interest Altria Ventures Inc.,
an indirect Altria Group subsidiary, will fund up to US$12 million
for Lexaria Nicotine to conduct milestone-based clinical
investigations utilizing DehydraTECHTM.
Altria will pay Lexaria Nicotine a royalty on revenue generated
from the sale of nicotine products containing DehydraTECH™ and
holds the option to acquire 100% ownership in Lexaria Nicotine, at
which time royalty payments would stop. Additionally, Altria has
the right to initially appoint one of the seven directors on
Lexaria Nicotine’s board of directors and, through further phased
investments, may have the right to appoint up to three of the seven
directors.
About Lexaria Bioscience
Lexaria Bioscience Corp. has developed and out-licenses its
disruptive delivery technology that promotes healthier ingestion
methods, lower overall dosing and quicker onset of lipophilic
active molecules. Lexaria has ten patents granted in the USA and in
Australia and has filed over 50 patent applications worldwide
across ten patent families. Lexaria's technology provides more
rapid delivery to the bloodstream; and important taste-masking
benefits, for orally administered bioactive molecules including
cannabinoids, vitamins, non-steroidal anti-inflammatory drugs
(NSAIDs), nicotine and other molecules.
www.LexariaBioscience.com
Lexaria Nicotine LLC is a United States domiciled,
majority-owned subsidiary of Lexaria Bioscience Corp., focused on
reduced-risk nicotine solutions.
www.LexariaNicotineCo.com
For regular updates, connect with Lexaria on Twitter
https://twitter.com/lexariacorp and on Facebook
https://www.facebook.com/lexariabioscience/
About Altria Group
Altria's wholly-owned subsidiaries include Philip Morris USA
Inc. (PM USA), U.S. Smokeless Tobacco Company LLC (USSTC), John
Middleton Co. (Middleton), Sherman Group Holdings, LLC and its
subsidiaries (Nat Sherman), Ste. Michelle Wine Estates Ltd. (Ste.
Michelle) and Philip Morris Capital Corporation (PMCC). Altria
holds an equity investment in Anheuser-Busch InBev SA/NV (AB
InBev).
The brand portfolios of Altria's tobacco operating companies
include Marlboro®, Black
&Mild®, Copenhagen® and
Skoal®. Ste. Michelle produces and markets premium
wines sold under various labels, including Chateau Ste.
Michelle®, Columbia Crest®,14
Hands® and Stag's LeapWine
Cellars™, and it imports and markets
Antinori®, Champagne Nicolas
Feuillatte™,Torres® and Villa
MariaEstate™ products in the United States.
Trademarks and service marks related to Altria referenced in this
release are the property of Altria or its subsidiaries or are used
with permission. More information about Altria is available at
altria.com and on the Altria Investor app. Take a closer look at
Altria and its companies on www.Altria.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience Corp. Alex Blanchard, Communications Manager
(778) 796-1897 Or NetworkNewsWire (NNW) www.NetworkNewsWire.com
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements
which are not historical facts are forward-looking statements.
Lexaria Bioscience makes forward-looking public statements
concerning its expected future financial position, results of
operations, cash flows, financing plans, business strategy,
products and services, competitive positions, growth opportunities,
plans and objectives of management for future operations, including
statements that include words such as "anticipate," "if,"
"believe," "plan," "estimate," "expect," "intend," "may," "could,"
"should," "will," and other similar expressions are forward-looking
statements, including but not limited to: that the R&D Program
will be successful or result in any regulator-approved products or
that the contemplated royalties will generate material revenue.
Such forward-looking statements are estimates reflecting Lexaria
Bioscience's best judgment based upon current information and
involve a number of risks and uncertainties, and there can be no
assurance that other factors will not affect the accuracy of such
forward-looking statements. Factors which could cause actual
results to differ materially from those estimated by Lexaria
Bioscience include, but are not limited to, government regulation,
managing and maintaining growth, the effect of adverse publicity,
litigation, competition, the patent application and approval
process and other factors which may be identified from time to time
in Lexaria Bioscience's public announcements and filings. There is
no assurance that existing capital is sufficient for Lexaria
Bioscience's needs or that it will be able to raise additional
capital. There is no assurance that Lexaria Bioscience will
successfully complete any other contemplated or existing technology
license agreements; or that results from any studies will be
favorable or in any way support future business activities of any
kind. Scientific R&D is often unpredictable and unanticipated
results could emerge from any study and have a material impact as
can any results that cannot be reproduced in subsequent testing.
There is no assurance that any planned corporate activity,
scientific study, R&D, business venture, or initiative will be
pursued, or if pursued, will be successful. There is no assurance
that any of Lexaria Bioscience's postulated uses, benefits, or
advantages for the patented and patented technology will in fact be
realized in any manner or in any part. No statement herein has been
evaluated by the Food and Drug Administration (FDA). DehydraTECHTM
technology is not intended to diagnose, treat, cure or prevent any
disease.
The CSE has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Corporate Communications Contact:
NetworkNewsWire (NNW) New York, New
York www.NetworkNewsWire.com 212.418.1217
Office Editor@NetworkNewsWire.com
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