Lexaria Bioscience incorporates Lexaria Nutraceutical subsidiary

Lexaria Bioscience has incorporated a new wholly-owned subsidiary under the name Lexaria Nutraceutical. The establishment of LEXX Nutra is in keeping with Lexaria’s overall strategy of maximizing the potential for its patented DehydraTECH Technology in various markets. Lexaria has issued an exclusive perpetual license to LEXX Nutra entitling it to utilize DehydraTECH, or sublicense the use of DehydraTECH, for the purposes of creating consumer packaged goods and/or intermediate ingredients composed of any molecule except those associated with nicotine or cannabis. LEXX Nutra is prohibited from using its license for the manufacture of any pharmaceutical product. In this regard, the license agreement between the Company and its wholly-owned subsidiary, Lexaria Pharmaceutical, has been amended so that LEXX Pharma’s exclusive licensing rights are now focused solely on the manufacture of pharmaceutical products, or sublicensing for the manufacture of pharmaceutical products, composed of any molecule except nicotine-associated molecules. In addition, Lexaria announced on May 8, 2023 that its human oral nicotine study NIC-H22-1 had completed dosing. Data amalgamation and analysis has since been ongoing, and the Company currently expects to be able to release results within the next two weeks.