Twitter Facebook LinkedIn YouTube

Lexaria BioScience (CSE: LXX) has received its first patent from the U.S Patent & Trademark office

Video Platform Video Management Video Solutions Video Player

Lexaria Bioscience Corp has received its first patent from the U.S. Patent and Trademark Office titled, Cannabinoid Infused Food and Beverage Compositions and Methods of Use Thereof. This patent, which is valid for 20 years, pertains to Lexaria’s method of improving bioavailability and taste of certain cannabinoid lipophilic active agents in food products.

Additional Information:

Company: Lexaria Bioscience Corp
Website: http://www.LexariaBioscience.com
Stock Symbol: CSE: LXX
Date Published: Oct 26, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch media

Lexaria Bioscience Corp has received its first patent from the U.S. Patent and Trademark Office titled, Cannabinoid Infused Food and Beverage Compositions and Methods of Use Thereof.

This patent, which is valid for 20 years, pertains to Lexaria’s method of improving bioavailability and taste of certain cannabinoid lipophilic active agents in food products.

The patent 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.

It follows an earlier Notice of Allowance the company received in July 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.

Basically, Lexaria’s unique technology allows for more efficient and effective absorption of molecules, while simultaneously masking, and at times even eliminating, inherent strong flavours and odors.

The process is fully explained in a recent interview of Chris Bunka by Tia Borden, which is available for viewing on www.InvestmentPitch.com

Chris Bunka, CEO, stated: “We are extremely pleased to have received our first patent protecting our proprietary technology. I expect our intellectual property portfolio to continue to expand.”

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.

John Docherty, President, added: “The rapid issuance of this patent is a significant advancement for our Company. 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.”

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.

The company uses the technology in its own line of products, such as the ViPova™ CBD-infused hot beverages and Lexaria Energy CBD-infused protein energy bars.

The shares are trading at CDN$0.33, and with 45.5 million shares outstanding, the company is capitalized at CDN$15 million.

For more information, please visit the company’s website www.LexariaBioscience.com, or contact Chris Bunka, Chairman & CEO, at 250-765-6424 or email bossbunka@gmail.com.

I’m Samantha Deutscher for Investmentpitch media