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Lexaria Bioscience Corp. (OTCQB: LXRP) (CSE: LXX) a drug delivery platform innovator, announces it has filed a new patent application with the US Patent and Trademark Office utilizing the Lexaria DehydraTECHTM technology for delivery of phosphodiesterase type 5 (PDE5) inhibitors - trade names of existing well-known products include ViagraTM (sildenafil) and CialisTM (tadalafil).
In its new patent application, Lexaria has named the PDE5 inhibitors from the group consisting of avanafil, lodenafil, mirodenafil, sildenafil (or analogs thereof, for example, actetildenafil, hydroxyacetildenafil, or dimethylsildenafil), tadalafil, vardenafil, udenafil, acetildenafil, and thiomethisosildenafil. In addition, under the new patent application each of these named molecules may be combined with a cannabinoid such as cannabidiol (“CBD”), where the cannabinoid delivered in concert may provide complementary vasodilatory activity beneficial together with the PDE5 inhibitor.
A common complaint of existing PDE5 delivery is the slow-acting nature of the substances. Building on existing successful research with cannabinoid delivery, Lexaria believes its patented DehyraTECHTM technology will allow for faster acting treatments in many cases utilizing lower dosage quantities.
As is true with Lexaria’s other patents and patent applications, the new PDE5 patent application is for the improved and more rapid delivery of the named molecules and is meant to be complimentary to existing or newly planned consumer products with a view to attracting prospective licensees or partners interested in utilizing Lexaria’s technology in next generation commercial products.
Lexaria’s patented DehydraTECH™ technology is focused on improved delivery methodologies of many commonly used API substances. As such, it provides an additional layer of effectiveness that is designed to harmonize with the intellectual property of third parties. Both patented and generic API substances can utilize Lexaria’s patented technology. Lexaria’s long term strategy is to partner with the world’s leading firms as they deliver best-of-class products to their existing large consumer groups.
Separately, Lexaria announces that a number of existing stock options and warrants have been exercised and Lexaria has received $69,736.50 from their exercise. A total of 364,250 warrants were exercised at prices of $0.14, $0.42, and $0.60; and 55,000 options were exercised at the price of $0.2273; for a total of 419,250 common shares being issued. The warrants and options are being exercised by third parties who are neither an officer nor director of the Company. All amounts reported in US$. The Company has also issued 875 new 2-year broker warrants with an exercise price of US$0.60.
Following issuance of these common shares, Lexaria will have 69,020,011 common shares issued and outstanding. No commissions or placement fees have been paid related to the funds received from these options and warrants exercised. Proceeds will be used for general corporate purposes.