Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP), a global innovator in drug-delivery platforms, this morning announced the appointment of Gregg Smith as a Senior Advisor for the company. Smith is the founder of Evolution VC Partners (www.EvolutionVCP.com), a New York-based “culture tech” venture investment firm with over 90 portfolio companies. Through his LLC, Smith is acquiring an equity position in LXRP by participating in the company’s recently announced private placement financing of $0.45 units. “I am passionate about creating a smokeless future and recognize that the consumption methods of nicotine and cannabis will change. Lexaria’s technology, DehydraTECH(TM), will completely disrupt and improve the consumption and delivery of oral nicotine, CBD and cannabis,” Senior Advisor Gregg Smith stated in the news release. “Lexaria’s recognition of the recent FDA recognition of certain oral delivery forms of nicotine as ‘less harmful’ to human health than combustible smoking will be a driving force of changing consumer preferences. I expect Lexaria’s technology to play a significant role in that future and I am pleased to advise the management team at Lexaria in defining our leadership strategies.”
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About Lexaria Bioscience Corp.
Lexaria Bioscience Corp. is a global innovator in drug-delivery platforms. Its patented DehydraTECH(TM) drug-delivery technology changes the way active pharmaceutical ingredients enter the bloodstream, promoting healthier ingestion methods, lower overall dosing and higher effectiveness for lipophilic active molecules. DehydraTECH increases bioabsorption, reduces time of onset and masks unwanted tastes for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (“NSAIDs”), nicotine and other molecules. Lexaria has licensed DehydraTECH to multiple companies in the cannabis industry for use in cannabinoid beverages, edibles and oral products, as well as to a world-leading tobacco producer for the development of smokeless, oral-based nicotine products. Lexaria operates a licensed, in-house research laboratory and holds a robust intellectual property portfolio with 16 patents granted and over 60 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.
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