Lexaria Bioscience Corp. (OTCQB:LXRP) (CSE:LXX) is pleased to announce the U.S. Patent and Trademark Office (“USPTO”) has issued U.S. Patent No. 9,474,725, Cannabinoid Infused Food and Beverage Compositions and Methods of Use Thereof, pertaining to Lexaria’s method of improving bioavailability and taste of certain cannabinoid lipophilic active agents in food products.
This is Lexaria’s first patent granted or awarded by the USPTO, and protects the Company’s intellectual property related to infusion of cannabinoid compounds in edible products, which is the primary focus of the Company’s business.
This patent has been issued following the Notice of Allowance the Company received from the USPTO announced on July 12, 2016, and includes a set of claims that describe the Company’s method of combining a fatty acid compound with any non-psychoactive cannabinoid for improved bioavailability and taste performance in both food and beverage formats. This patent issuance has a priority date of June 10, 2014, a publish date of October 27, 2016, and protects the Company’s technology for twenty years.
This issued patent is only the first in a series of applications by the Company: Lexaria also has two continuation applications filed with the USPTO under this issued patent which seek allowance of the Company’s remaining patent claims originally filed thereunder that are still under pursuit. These claims pertain to additional active agents such as psychoactive cannabinoids (e.g., Tetrahydrocannabinol or THC), fat soluble vitamins, non-steroidal anti-inflammatory drugs (NSAIDs) and nicotine.
“We are extremely pleased to have received our first patent protecting our proprietary technology,” said Chris Bunka, CEO of Lexaria. “I expect our intellectual property portfolio to continue to expand.”
“The rapid issuance of this patent is a significant advancement for our Company,” added John Docherty, President of Lexaria. “It increases our confidence in obtaining issuance of further claim sets under our remaining patents-pending, now that we understand the requirements for successful patent issuance. It strengthens our ability to negotiate our pending and future technology out-licensing agreements, now that our intellectual property is clearly staked.”
Lexaria has seven other patent applications pending in the U.S. and internationally and believes it is well positioned for allowance of these additional patent claim sets. The Company has significantly expanded its scientific database proving its technology since the original applications were filed, and is preparing to submit this information to patent examiners. Current patent-pending applications expand the breadth and variety of dosage formats and carrier molecules the Company’s technology can empower. The Company is in the process of filing specific international patent applications within the next 60 days.
As previously announced Lexaria has already completed two definitive agreements and has also entered two Letters of Intent for out-licensing of the Company’s technology. This patent issuance strengthens the Company’s positioning in these deals, and accelerates the potential for additional future technology out-licensing deals.
About Lexaria
Lexaria Bioscience Corp. is a food biosciences company with a proprietary technology for improved delivery of bioactive compounds. The Company’s lipophilic enhancement technology has been shown to enhance the bioavailability of orally ingested cannabinoids, while also masking taste. This technology promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. The Company’s technology is patent-protected for cannabidiol (CBD) and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules.
www.lexariabioscience.com