CannabisNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Subsidiary Secures Key R&D Funding for Oral Nicotine Delivery Using DehydraTECH Technology
Lexaria Bioscience’s (CSE: LXX) (OTCQX: LXRP) wholly owned subsidiary, Lexaria Nicotine LLC, recently struck a deal with a large tobacco partner, securing significant R&D financing for the company’s DehydraTECH absorption platform (http://cnw.fm/12hJT). A recent article discussing the company reads, “Through the agreement, the partner also has the option to provide up to $11 million in additional research through multiple phased private financings to underwrite LXRP’s R&D. In exchange, the partner will receive certain license rights to commercialize these DehydraTECH products exclusively in the United States and non-exclusively elsewhere. The partner, the largest cigarette company in the U.S., will be obligated to…