Lexaria Bioscience announced that four of its pending patent applications, via its wholly-owned subsidiary Poviva Corp., have now been granted. The four new patents granted are as follows:
- Australia Patent #2016367036 / Grant Date July 30, 2019 - Methods for formulating orally ingestible compositions comprising lipophilic active agents
- Australia Patent #2018220067 / Grant Date July 30, 2019 - Food and beverage compositions infused with lipophilic active agents and methods of use thereof
- US Patent #10,374,036 / Grant Date August 6, 2019 - Food and beverage compositions infused with lipophilic active agents and methods of use thereof
- US Patent #10,381,440 / Grant Date August 13, 2019 - Food and beverage compositions infused with lipophilic active agents and methods of use thereof
"The issuance of these four patents results in Lexaria’s total patents granted increasing to 15 with eight granted in the US and seven granted in Australia, along with roughly 60 patent applications pending throughout the world," the team with the company explains. "The granted patents cover delivery of: cannabinoids such as THC and CBD; NSAIDs such as ibuprofen; nicotine; and vitamins."
"Lexaria continues to enhance its DehydraTECH™ technology and now, with its recently issued Health Canada cannabis research and development license, will accelerate its investigations with a variety of active pharmaceutical ingredients (“API’s”), including but not limited to cannabis related API’s, to further strengthen its patent portfolio."
Lexaria also announces the issuance of 550,000 incentive stock options (the “Options”) which are being issued pursuant to its equity incentive plan as approved by its shareholders on June 20, 2019 and registered with the Securities and Exchange Commission, including 100,000 issued to a Director and 450,000 issued to employees/consultants of the Company. The Options will be exercisable to purchase voting common shares of Lexaria (“Shares”) at a price of US$0.81 per Share, for a period of five years expiring on August 15, 2024. Any Shares issued pursuant to the exercise of the Options prior to December 16, 2019 shall bear the restrictive hold period legend prescribed by National Instrument 45-102 - Resale of Securities.