Exhibit 99.2
Lexaria Enters Licensing Agreement with Cannabis Edibles Infusion Company
Kelowna, British Columbia February 27, 2018 Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX) (the Company or Lexaria) a drug delivery platform innovator, announces it has entered a definitive technology licensing agreement (the Agreement) with Los Angeles-based, privately-held Biolog, Inc. (Biolog) whereby Lexaria is providing its patented DehydraTECHTM technology to empower a unique set of next-generation food and beverage cannabis infusion products to be sold in the United States.
Biolog, Inc. has separately acquired rights to patented technologies for a unique line of manufactured dissolvable infusion products designed for ease of use and precise per-unit ingredient dosing. Biolog intends to launch new products of this type to deliver DehydraTECHTM enabled CBD from hemp and/or vitamins in products available nationwide. Biolog will also launch new DehydraTECHTM enabled products in those states where it is permissible to do so delivering cannabinoids from cannabis. All product lines will offer superior palatability and bioabsorption, as well as fast action powered by DehyrdaTECHTM.
Biolog has acquired 5-year exclusive rights to use Lexarias DehydraTECHTM technology for these particular applications within the United States for an undisclosed sum and a royalty on revenue generated on products sold utilizing DehyrdaTECHTM.
The versatility of Lexarias DehyrdaTECHTM technology is witnessed through its adoption to deliver vitamins in a nationally-available consumer product, or cannabinoids in many U.S. states, said Chief Executive Officer Chris Bunka. Biologs products are a unique and novel method to deliver precisely measured amounts of active ingredients thoroughly infused into foods and beverages of virtually all kinds and we welcome Biolog to our growing family of technology innovators.
Craig Machado, CEO of Biolog commented, Lexarias technologies apply very well to our product offerings and we could not be more excited to be soon offering Powered by Lexaria products to the marketplace. We plan to provide more information about our upcoming products, which will allow processors and consumers to turn almost any food or beverage into a cannabis edible, in the near future as we get closer to formal product launch.
Lexarias patented DehydraTECH technology is focused on improved delivery methodologies of many commonly used active pharmaceutical ingredient (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 Lexarias patented technology. Lexarias long term strategy is to partner with the worlds leading firms as they deliver best-of-class products to their existing large consumer groups.
About Lexaria
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 has patents granted in the USA and in Australia for
utilization of its DehydraTECHTM delivery technology. Lexarias
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.
www.lexariabioscience.com
About Biolog, Inc.
Biolog, Inc. is a privately held
company located in Los Angeles specializing in cannabis infusion technology for
food and beverages. Biolog has gained access, via various licensing agreements,
to what it believes is some of the most important intellectual property in the
legal cannabis edibles marketplace. Biolog has integrated this IP into a unique
set of products that enable consumers and cannabis processors to turn virtually
any food or beverage into a cannabis edible. The Companys business model is to
both directly manufacture cannabis infusion products, where legal, and to
license its technologies to legal licensed third parties that will then utilize
the cannabis infusion technologies to create cannabis containing foods and
beverages.
FOR FURTHER INFORMATION PLEASE CONTACT: |
Lexaria Bioscience Corp. |
Alex Blanchard, Communications Manager |
(778) 796-1897 |
Or |
NetworkNewsWire (NNW) |
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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: 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
cannabinoids or any other active ingredient, or that the Biolog license
agreement will successfully produce benefits to the Company. 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 Lexarias 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.
The CSE has not
reviewed and does not accept responsibility for the adequacy or accuracy of this
release.