Lexaria Grants License to AnodGen Bioceuticals
Wed, June 8, 2022, 8:00 AM
In this article:
LEXX
+4.15%
DehydraTECH Pharmaceutical License Issued for the European, Australian and New Zealand markets
Lexaria to receive royalty revenue from DehydraTECH product sales
KELOWNA, BC / ACCESSWIRE / June 8, 2022 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms is pleased to announce the awarding of a five-year, non-exclusive DehydraTECH license (the "License") from its wholly-owned subsidiary, Lexaria Pharmaceutical Corp. to AnodGen Bioceuticals ("AnodGen") of Ireland.
The awarded License is valid for the manufacturing and distribution of DehydraTECH processed cannabinoid active pharmaceutical ingredient ("API") powders within Europe including the UK, Australia and New Zealand; including pharmaceutical and medical product applications for psychoactive cannabinoids and medical product applications for non-psychoactive cannabinoids. Anodgen will pay royalty fees to Lexaria for all API powders sold that utilize the DehydraTECH technology. Anodgen has the right to manufacture and sell these API powders to third party companies for their own products that are designated by a national regulator as a medical product, drug, nutraceutical, pharmaceutical or biopharmaceutical, as applicable, under its cannabinoid product license rights.
"This strategic alliance with Lexaria Bioscience Corp. underscores the focus of Anodgen to ‘Bring Science to Life', in addition to our research and API's," said Dr Slimane Aboulkacem, Chairman and Founding Member of Anodgen Bioceuticals.
Dr Jeffrey Pruski, Anodgen's Chief Medical Officer and Founding Member mentioned that "the partnership with Lexaria will help bring research-based API's and technology to companies and people with superior bioavailability and enhanced absorption. This alliance will bring about change we will yet see in pharmacokinetics and formulation."
Consumer products purchased without physician or medical professional consultation are not permitted under the terms of this License. AnodGen is expected to have their new facility in Ireland fully operational later in 2022 and Lexaria recognizes the long-term potential for growth in the utilization of DehydraTECH across these pharmaceutical market opportunities.
About AndoGen Bioceuticals.
Anodgen Bioceuticals is a newly established contract manufacturing organization business that will manufacture and distribute active pharmaceutical ingredients for the pharmaceutical industry by focusing on world class research on pharmacognosy (plant-based medicine). Anodgen Bioceuticals mission is to "bring science to life" by developing a global, purpose-led, science-based company that specializes in pharmacognosy, active nutrition, health, and sustainable living. Anodgen Bioceuticals has global expertise and innovation to add value to science around plant derived medicine. More importantly, Anodgen specializes in sourcing and custom compound APIs of cannabinoids and other customized blends. The Company has recently signed two research MOUs with renowned U.S. universities to collaborate on research.
