KELOWNA, BC / October 26, 2016 / -- InvestorsHub Newswire
-- Lexaria Bioscience Corp. (LXRP)
(CSE:LXX)
(the "Company" or "Lexaria") is pleased to announce the U.S. Patent
and Trademark Office ("USPTO") has issued U.S. Patent No.
9,474,725, Cannabinoid Infused Food and Beverage Compositions and
Methods of Use Thereof, pertaining to Lexaria's method of improving
bioavailability and taste of certain cannabinoid lipophilic active
agents in food products.
This is Lexaria's first patent granted or awarded by the USPTO,
and protects the Company's intellectual property related to
infusion of cannabinoid compounds in edible products, which is the
primary focus of the Company's business.
This patent has been issued following the Notice of Allowance
the Company received from the USPTO announced on July 12, 2016, and
includes a set of claims that describe the Company's method of
combining a fatty acid compound with any non-psychoactive
cannabinoid for improved bioavailability and taste performance in
both food and beverage formats. This patent issuance has a priority
date of June 10, 2014, a publish date of October 27, 2016, and
protects the Company's technology for twenty years.
This issued patent is only the first in a series of applications
by the Company: Lexaria also has two continuation applications
filed with the USPTO under this issued patent which seek allowance
of the Company's remaining patent claims originally filed
thereunder that are still under pursuit. These claims pertain to
additional active agents such as psychoactive cannabinoids (e.g.,
Tetrahydrocannabinol or THC), fat soluble vitamins, non-steroidal
anti-inflammatory drugs (NSAIDs) and nicotine.
"We are extremely pleased to have received our first patent
protecting our proprietary technology," said Chris Bunka, CEO of
Lexaria. "I expect our intellectual property portfolio to continue
to expand."
"The rapid issuance of this patent is a significant advancement
for our Company," added John Docherty, President of Lexaria. "It
increases our confidence in obtaining issuance of further claim
sets under our remaining patents-pending, now that we understand
the requirements for successful patent issuance. It strengthens our
ability to negotiate our pending and future technology
out-licensing agreements, now that our intellectual property is
clearly staked."
Lexaria has seven other patent applications pending in the U.S.
and internationally and believes it is well positioned for
allowance of these additional patent claim sets. The Company has
significantly expanded its scientific database proving its
technology since the original applications were filed, and is
preparing to submit this information to patent examiners. Current
patent-pending applications expand the breadth and variety of
dosage formats and carrier molecules the Company's technology can
empower. The Company is in the process of filing specific
international patent applications within the next 60 days.
As previously announced Lexaria has already completed two
definitive agreements and has also entered two Letters of Intent
for out-licensing of the Company's technology. This patent issuance
strengthens the Company's positioning in these deals, and
accelerates the potential for additional future technology
out-licensing deals.
About Lexaria
Lexaria Bioscience Corp. is a food biosciences company with a
proprietary technology for improved delivery of bioactive
compounds. The Company's lipophilic enhancement technology has been
shown to enhance the bioavailability of orally ingested
cannabinoids, while also masking taste. This technology promotes
healthy ingestion methods, lower overall dosing and higher
effectiveness in active molecule delivery. The Company's technology
is patent-protected for cannabidiol (CBD) and all other
non-psychoactive cannabinoids, and patent-pending for
Tetrahydrocannabinol (THC), other psychoactive cannabinoids,
non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other
molecules.
www.lexariabioscience.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
FORWARD-LOOKING STATEMENTS
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: any revenue or license fee payments
that may be realized from license agreements, the introduction of
any product lines that are derived from license agreements, that
license arrangements may be entered into with other companies or
partners, that the Company's technology enables higher rates of
absorption of certain molecules such as vitamins and cannabinoids
while simultaneously masking and at times even eliminating inherent
strong flavors and/or odors typical of those molecules, or that the
technology will function in a similar manner if tested with THC,
nicotine, or any of the other molecules named in our patent
applications. 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. Access to capital, or
lack thereof, is a major risk and there is no assurance that the
Company will be able to raise required working capital. 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, 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 any license agreement, hemp
oil sector, or alternative health businesses will provide any
benefit to Lexaria, or that the Company will experience any growth
through participation in these sectors or as a result of the
granted patent. 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 that Lexaria will
successfully complete any other contemplated or existing technology
license agreements, nor that Lexaria's technology will deliver any
improvement in taste or bioavailability with any reliability nor
across any product category. There is no assurance that any planned
corporate activity, business venture, or initiative will be
pursued, or if pursued, will be successful. There is no assurance
that any hemp oil or cannabinoid-based product will promote,
assist, or maintain any beneficial human health conditions
whatsoever, nor that any patent application in the USA or any other
nation or under any treaty will result in the award of an actual
patent; nor that an award of any actual patent will protect against
challenges from unknown third parties. There is no assurance that
any new definitive agreement will be reached to license the
Company's technology to any third party in return for compensation.
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 Energy Foods and ViPovaTM products are not intended to
diagnose, treat, cure or prevent any disease.