Press Release
Lexaria Bioscience Awarded Australian Patent For Cannabinoid Infused Edibles
KELOWNA, BC--(Marketwired - July 18, 2017) - Lexaria Bioscience Corp. (OTCQB: LXRP) (CSE: LXX) (the "Company" or "Lexaria") is pleased to announce that the Australian Patent Office has granted patent #2015274698 which protects Lexaria's method of improving absorption, speed of onset, and taste of cannabinoid active agents in edible products. The term of the patent is 20 years from June 10, 2015.
The issuance of this patent guards Lexaria's intellectual property for the edible delivery of all non-psychoactive cannabinoids, including those that are incidental but contributory to cannabis oils used in psychoactive cannabinoid edibles. A wide variety of foods and beverage formats are covered, including but not limited to: tea, coffee, cocoa powder, fresh foods and meats, dairy products, pastas, breads, seeds, nuts, spices, herbs, candies, flavourings and more.
One of Lexaria's core strategies is to develop and solidify key IP applicable to different economic sectors within specific market jurisdictions domestically and abroad, as a pre-requisite to developing revenue-producing business operations linked thereto.
"We are very pleased to have received this patent which effectively covers all cannabis oil extract formulated edibles utilizing our technology in Australia," states Lexaria CEO Chris Bunka. "This patent award allows us to confidently enter the recently legalized Australian cannabis marketplace where we will seek additional licensing and product distribution partnering opportunities."
A patent granting the same set of claims was granted in the USA in October, 2016. Lexaria expects additional progress on its extensive patent portfolio through the balance of 2017 and in 2018.
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