KELOWNA, British Columbia, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Lexaria Bioscience Corp. (OTCQB:LXRP) (CSE:LXX) (the "Company" or "Lexaria") a drug delivery platform innovator, announces it has filed a new patent application with the US Patent and Trademark Office ("USPTO") utilizing the Lexaria DehydraTECH™ technology for delivery of phosphodiesterase type 5 (PDE5) inhibitors - trade names of existing well-known products include Viagra™ (sildenafil) and Cialis™ (tadalafil).
In its new patent application, Lexaria has named the PDE5 inhibitors from the group consisting of avanafil, lodenafil, mirodenafil, sildenafil (or analogs thereof, for example, acetildenafil, hydroxyacetildenafil, or dimethylsildenafil), tadalafil, vardenafil, udenafil, acetildenafil, and thiomethisosildenafil. In addition, under the new patent application each of these named molecules may be combined with a cannabinoid such as cannabidiol ("CBD"), where the cannabinoid delivered in concert may provide complementary vasodilatory activity beneficial together with the PDE5 inhibitor.
A common complaint of existing PDE5 delivery is the slow-acting nature of the substances. Building on existing successful research with cannabinoid delivery, Lexaria believes its patented DehydraTECH™ technology will allow for faster acting treatments in many cases utilizing lower dosage quantities.
As is true with Lexaria's other patents and patent applications, the new PDE5 patent application is for the improved and more rapid delivery of the named molecules and is meant to be complimentary to existing or newly planned consumer products with a view to attracting prospective licensees or partners interested in utilizing Lexaria's technology in next generation commercial products.
Lexaria's patented DehydraTECH™ technology is focused on improved delivery methodologies of many commonly used API substances. As such, it provides an additional layer of effectiveness that is designed to harmonize with the intellectual property of third parties. Both patented and generic API substances can utilize Lexaria's patented technology. Lexaria's long term strategy is to partner with the world's leading firms as they deliver best-of-class products to their existing large consumer groups.
Separately, Lexaria announces that a number of existing stock options and warrants have been exercised and Lexaria has received $69,736.50 from their exercise. A total of 364,250 warrants were exercised at prices of $0.14, $0.42, and $0.60; and 55,000 options were exercised at the price of $0.2273; for a total of 419,250 common shares being issued. The warrants and options are being exercised by third parties who are neither an officer nor director of the Company. All amounts reported in US$. The Company has also issued 875 new 2-year broker warrants with an exercise price of US$0.60.
Following issuance of these common shares, Lexaria will have 69,020,011 common shares issued and outstanding. No commissions or placement fees have been paid related to the funds received from these options and warrants exercised. Proceeds will be used for general corporate purposes.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Lexaria Bioscience Corp. has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria has multiple patents pending in over 40 countries around the world and was granted its first patents in the USA and in Australia related to edible forms of cannabinoids. Lexaria's technology provides increases in intestinal absorption rates; 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.
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company 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 any additional patent protection will be realized or that patent achievements will deliver material results. Such forward-looking statements are estimates reflecting the Company'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 the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process and other factors which may be identified from time to time in the Company's public announcements and filings. There is no assurance that existing capital is sufficient for the Company's needs or that it will be able to raise additional capital. There is no assurance the Company will be capable of developing, marketing, licensing, or selling edible products containing nicotine or any other active ingredient. There is no assurance that any planned corporate activity, scientific research or study, business venture, technology licensing pursuit, patent application or allowance, consumer study, or any initiative will be pursued, or if pursued, will be successful. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending 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). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease.
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