Lexaria Bioscience Corp (OTCMKTS:LXRP) has announced that it has been issued with two new US patents. The company has added that it is waiting for two more that will be granted in Australia on or before August 17. Lexaria Bioscience Corp is an innovator of drug delivery platforms.
The company is building on its first patent family
Following the delivery of the two patents, the company now has a total of four patents in the U.S and another four in Australia. The company obtained all the patents in “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof,” its first patent family. This family has significantly boosted the company’s patent claims in Australia and the U.S.
The company’s new patents in Australia will help in expanding its IP protection so as to include production of psychoactive and non-psychoactive; nicotine, cannabinoids, NSAIDs including fat-soluble vitamins such as vitamins A, D, E, and K. This will mark the first time that the company has been issued with patents to deliver molecules apart from cannabinoids outside of the US.
Lexaria has a growing portfolio of offerings and currently has over 40 patents in more than 40 countries globally. The company is currently involved in a number of Research and Development initiatives that will culminate into new patent applications. As its patent continues to expand, the company will be seeking to commercialize its technologies so as to protect its intellectual property.
In other news, Lexaria Bioscience has announced number of warrant transactions. The company has received $63,000 from the exercise of warrants that were granted previously. Additionally, the company says it has received 450,000 that will be exercised at the price of $0.14. These warrant exercises are from third party entities which are not attached to the company. They are neither employee of directors of the company. The warrants did not attract any placement fee or commission. The company intends to use proceeds from the warrants for general corporate purposes.
Lexaria has also entered into a contract for the cost of the payments of $500 as well as granting a total of 250,000 warrants. The contract is expected to expire after three years.