Lexaria Corp. (
), a food sciences company focused on the delivery of active compounds that can behave as superfoods through its proprietary infusion technology, recently announced a landmark technology licensing agreement with a cannabis edibles manufacturer located in the State of Colorado.
Under the terms of the agreement, the licensee will pay a minimum of $122,000 to the company over a two-year period with the potential to reach over $1 million in value over 3.5 years. The licensee will have semi-exclusive rights to introduce its quality products in up to four different states leveraging the company’s innovative technology. Management is also in discussion with numerous other companies interested in the same technology.
Read the entire press release here:
Lexaria, Corp. (LXRP) (CSE:LXX) (the “Company”) is very pleased to announced it has effected a Letter of Intent to license its patent pending technology for the purpose of entering the U.S. regulated medical and adult use cannabis edibles marketplace. Lexaria is not itself producing any products under the agreement, instead making its technology available to state-licensed entities.
Under the terms of the agreement, the Licensee will pay a minimum of US$122,000 to Lexaria over the initial two-year term contemplated, which provides for a limited scope of exclusivity to a pre-defined product line in the state of Colorado. The agreement contemplates significant opportunities to expand, both in scope of products offered as well as geographically. If the Licensee were to introduce three product lines utilizing the Lexaria technology in each of four states contemplated, for example, then Lexaria could expect to receive $1,064,000 over approx 3 ½ years, and the Licensee would enjoy semi-exclusivity to introduce its quality products in each of those states. There is no maximum amount of compensation defined by the Letter of Intent. A definitive agreement is expected to be announced in the coming weeks.
Lexaria is currently in discussions with several other enlightened companies also interested in licensing the Lexaria absorption and flavour enhancing technology that provides for improved food consumption experiences and performance for their customers. Increasingly, companies realize that flavor enhancement and more efficient and effective absorption of active molecules not only benefits consumers, but is becoming a necessity as companies look to individualize their products and compete in increasingly crowded market sectors. Lexaria’s technology provides significant competitive advantages to its licensed partners.
“Time and again, in every test situation we have devised, Lexaria’s technology continues to show widespread positive analytical and consumer outcomes,” said John Docherty, President of Lexaria. “We applaud that our first licensing partner recognizes the benefits this technology enables, and their determination to provide their customers with the very best that cutting edge science and technology can provide.”
The parties have already collaborated on human testing using Lexaria’s technology compared to conventional bioabsorption enhancement formulations beginning in early February. Testing thus far has evaluated cannabis oil infused gourmet chocolates created by the Licensee incorporating Lexaria’s technology in comparison to chocolates formulated using a leading aqueous solubility enhancing agent used in commercial food production today capable of enabling cannabinoid intestinal absorption.
In early results, test subjects ranked those chocolates that had been created with Lexaria’s technology as the best tasting, most palatable and providing the best overall experience of the chocolates sampled. Furthermore, the test subjects indicated a time of onset of the cannabis oil effects in as little as 15-20 minutes on average. The study included 12 volunteers who were all regular cannabis consumers with experience ingesting conventional edibles. All chocolates used in the study were blinded (unmarked) in order that the subjects could not discern the product formulations applied.
“This, our first technology licensing activity, demonstrates to all stakeholders that our technology offers valuable benefits to corporate partners, even before our patents are awarded,” said Chris Bunka, CEO of Lexaria. “We expect our technology to eventually be present in food products across America and internationally, not just enabling improved cannabinoid food experiences, but also doing so for vitamins and a host of other bioactive molecules.”
Lexaria’s unique patent pending technology allows for more efficient and effective absorption of certain molecules such as vitamins and cannabinoids, while simultaneously masking and at times even eliminating inherent strong flavours and/or odors typical of those molecules. Lexaria’s technology is extremely cost effective to implement and applicable to the widest imaginable spectrum of foods including but not limited to chocolates, candies, coffee, tea, bottle drinks of all kinds including carbonated or those containing alcohol, protein bars, cookies, pastas, entrees, breads, and much, much more.
About Lexaria
Lexaria is a food sciences company focused on the delivery of active compounds that can behave as superfoods through its proprietary infusion technologies. Lexaria’s technology enables higher bioavailability rates for CBD; THC; NSAIDs; Nicotine and other molecules than is possible without lipophilic enhancement technology. This can allow for lower overall dosing requirements and/or higher effectiveness in active molecule delivery. Lexaria hopes to reduce other common but less healthy ingestion methods such as smoking as it embraces the benefits of public health. www.lexariaenergy.com
About ViPovaTM
ViPovaTM uses only legal hemp oil extracts, grown from agricultural hemp in locations where it is legal to do so, in ViPovaTM-branded tea, coffee, and hot chocolate. ViPovaTM uses its patent-pending process to infuse concentrated amounts of hemp oil within lipids, providing more bioactivity and comfort to the body during the absorption process. Only ViPovaTM has this ground-breaking technology for hemp oil/lipid infusion. www.vipova.com
The post Lexaria Licenses Technology to Cannabis Edibles Developer appeared first on CannabisFN.