Yesterday, Lexaria Bioscience Corp. (OTC:LXRP) (CSE:LXX) announced it has received a new Notice of Allowance from the United States Patent and Trademark Office, a.k.a. the USPTO, for the use of its technology as a delivery platform for all cannabinoids including THC, fat soluble vitamins, NSAIDs, and nicotine.
This Notice of Allowance applies to the delivery of all active pharmacological ingredients Lexaria had been seeking. While Lexaria was always confident in its patent applications, the rapid allowance for this broad API applicability is significantly ahead of company's expectations. As was true with the Company’s existing non-psychoactive cannabinoid patent that was granted in 2016, Lexaria expects formal patent issuance within three to four months which is expected to provide protection until at least 2035.
Under USPTO practice, there is no opposition period between allowance and issuance. The patent application number is 15/225,799, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof”.
Lexaria also continues to advance all its additional patent applications in various countries as it levers patent success in the USA. For example, one of the Company’s patent applications has recently entered the active patent investigation phase in China.
“Issuance of this broad patent will give Lexaria the ability to ramp up our technology out-licensing activities especially within the pharmaceutical sector where the expanded API capacity of our DehydraTECH™ delivery platform will be most applicable,” said John Docherty, President.
“This wide-ranging patent allowance from the USPTO exceeds our expectations,” said Chief Executive Officer Chris Bunka. “This vastly expanded intellectual property protection will enable us to aggressively pursue new business opportunities in 2018 such as what could be the world’s first nicotine edibles for the smokeless tobacco industry, or enhanced products for NSAID-derived pain management, as well as in the rapidly growing cannabis market.”
To stay posted on important cannabis updates, be sure to subscribe to one or more of our free newsletters. Also, don't forget to connect with The Daily Marijuana Observer on Facebook, Twitter, StockTwits, and Instagram.