This is Biolog: 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 deliverDehydraTECHTM 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 Lexaria's 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 Lexaria's DehyrdaTECHTMtechnology 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. "Biolog's 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, "Lexaria's technologies apply very well to our product offerings and we could not be more excited to be soon offeringPowered 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."
Lexaria's patented DehydraTECH(TM) 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 Lexaria's patented technology. Lexaria's long term strategy is to partner with the world's leading firms as they deliver best-of-class products to their existing large consumer groups.
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