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Lexaria Bioscience strikes R&D agreement with British American Tobacco to investigate its technology for potential use in nicotine products

The tobacco giant will pay for the R&D work under the agreement

Lexaria Bioscience Corp. - Lexaria Bioscience strikes R&D agreement with British American Tobacco to investigate its technology for potential use in nicotine products
Lexaria said the agreement does not contemplate the development of oral nicotine consumer products in North America

Lexaria Bioscience Corp (OTCMKTS:LXRP) (CSE:LXX) announced Monday that it has entered into a research and development agreement with British American Tobacco Limited (BAT) to investigate its technology for potential use in nicotine products.

The R&D work under the agreement will be paid for by BAT, Lexaria said in a statement.

"Lexaria is pleased to work with British American Tobacco on these research and development activities," said Lexaria CEO Chris Bunka.

READ: Lexaria Bioscience gets approval for CBD DehydraTECH hypertension study in Europe

Lexaria said the agreement does not contemplate the development of oral nicotine consumer products in North America, given Lexaria's existing relationship with a leading US-based tobacco company.

The agreement is expected to be completed within six months, though provisions exist to extend the agreement if required, Lexaria said. 

The Kelowna, British Columbia-based company has developed and markets DehydraTECH, which masks unwanted tastes, improves onset speed and increases the bioavailability of active pharmaceutical ingredients in a simple and cost-effective platform.

Essentially, DehydraTECH allows cannabidiol (CBD) and other oils to be dehydrated into an odorless, tasteless powder and mixed with xanthan gum, cornflour, and other base ingredients that can then be added to foods, drinks and creams.

It also allows drugs and vitamins – in the case of CBD – to enter the bloodstream faster than existing drug delivery platforms.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: Lexaria Bioscience Corp.

Price: 8.03 CAD

CSE:LXX
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Market Cap: $40.99 m
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