Lexaria Bioscience Corp. (the ”Company” or ”Lexaria”), a drug delivery platform innovator, announces that it has entered a definitive 5-year agreement, via its subsidiary Lexaria CanPharm ULC, to provide Lexaria’s patented DehydraTECHTM technology to a private California-based cannabis company for its utilization in certain cannabis-based beverages to be produced and sold in the states of California and Nevada.
Financial terms of the agreement are not being disclosed. The DehydraTECH-enabled beverages are protected under Lexaria’s many existing US-granted patents and may include any combination of ready-to-drink beverages such as non-alcoholic beers, wines and spirits; cold or hot coffee or teas, sports drinks and much more.
Lexaria has developed methods of combining nano-emulsion technology with its proprietary DehydraTECH processes to create beverages with market-leading aesthetic and performance characteristics. Lexaria is currently experiencing unprecedented demand in several North American markets for use of its technology for beverage applications.