Few small-cap or nano-cap companies manage to establish any formal relationship with Fortune 500-style companies. Some of the largest companies in the world have asked about our technology and we knew from these discussions that our DehydraTECHMT the technology had the capacity to produce more important results than simply making cannabis users feel the desired effects quickly. Although it will take longer to design and gain approval for next-generation nicotine products, both in America and around the world, Lexaria is very confident that it will succeed. Lexaria is proud to have attracted Altria Group, Inc., owner of combustible and non-combustible tobacco companies that have been the undisputed market leaders of the tobacco industry in the United States for decades.
In 2019, we finalized a new contractual relationship with a GMP certified and FDA registered production company to bring the improved DehydraTECH powders to market in the United States with a current capacity of around 200,000 servings per day which can be increased to 400,000 servings per day in the same facility. , as required. Lexaria is experiencing strong demand from many companies requesting DehydraTECH enhanced pretreated bulk powders for their specific product lines and with this facility we can meet that demand.
Lexaria’s intellectual property strategy continues to bear fruit as we received our very first patents to use DehydraTECH with cannabinoids for the treatment of health conditions including Alzheimer’s disease, schizophrenia, Parkinson’s disease and heart disease, in August 2019 in Australia. Lexaria is using the procedural tools offered by the International Patent Prosecution Highway, to try to obtain expedited patent status for these same conditions in the United States in 2020. Strengthened patent claims related to health issues allow Lexaria to establish relationships in the pharmaceutical industry. ; one of our goals for 2020.
As we enter the first quarter of 2020, we are seeing signs of increased revenue for Lexaria which should be sustainable and support future growth. One of our existing US clients is embarking on an aggressive growth strategy from its home state to several additional states over the next year. Another existing US customer will launch its bottled beverage with CBD and DehydraTECH technology within the next 90 days, generating the first-ever revenue for Lexaria in the first quarter.
With existing customers, Lexaria expects to more than double its overall 2019 revenue. With a rich pipeline of additional leads in 2020, we expect further revenue gains. The comfort of our working relationships with existing corporate clients allows us to say that we anticipate strong and sustainable revenue growth in 2020 and beyond.
One of the Company’s goals in 2020 is to radically change our strategy in the capital markets. Over the past six months, Lexaria has met with a number of Wall Street investment banking firms as we develop our long-term capital markets strategy. Lexaria plans to pursue a strategy in 2020 to qualify for listing on a nationally recognized US stock exchange, allowing a considerably larger audience of investors to examine the attributes of Lexaria and paving the way for an increase in quantity. and the quality of strategic opportunities.
To view the full strategy update, please visit www.lexariabioscience.com/news/
Lexaria Bioscience Corp. is a global innovator in the field of drug delivery platforms. Its patented DehydraTECH ™ drug delivery technology changes the way active pharmaceutical ingredients enter the bloodstream, promoting healthier ingestion methods, lower overall dosage and increased efficacy for lipophilic active molecules. DehydraTECH increases bio-absorption; reduces the time of onset; and masks the unwanted tastes of orally administered bioactive molecules, including cannabinoids, vitamins, nonsteroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. Lexaria has licensed DehydraTECH to several companies in the cannabis industry for use in cannabinoid drinks, edibles and oral products; and a leading tobacco producer in the world for the development of smokeless and oral nicotine products. Lexaria operates an accredited in-house research laboratory and has a strong intellectual property portfolio with 16 granted patents and over 60 pending patents worldwide.
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FOR MORE INFORMATION, PLEASE CONTACT:
Lexaria Bioscience Corp.
Chris Bunka, CEO
This press release includes forward-looking statements. Statements that are not historical facts are forward-looking statements. The Company makes forward-looking public statements regarding its expected future financial condition, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and management objectives for its future operations, including statements which include words such as “anticipate”, “if”, “believe”, “plan”, “estimate”, “expect”, “have the intention of “,” may “,” could “,” should “,” shall “, and other similar expressions are forward-looking statements, including, but not limited to: that additional patent protection will be achieved or that patent achievements will produce significant results. These forward-looking statements are estimates reflecting the best judgment of the Company based on current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of these statements. prospective. Factors that could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulations and regulatory approvals, managing and sustaining growth, the effect of advertising negative, litigation, competition, scientific discoveries, patent application and approval process and other factors which may be identified from time to time in public announcements and documents filed by the Company. There can be no assurance that the existing capital is sufficient for the needs of the Company or that it will be able to raise additional capital. There can be no assurance that the Company will be able to develop, market, license or sell edible products containing cannabinoids, nicotine or any other active ingredient. There can be no assurance that any corporate activity, scientific research or study, commercial enterprise, letter of intent, technology license application, patent application or allocation, consumer study or any initiative will be continued or, if continued, will be successful. There can be no assurance that the postulated uses, benefits or advantages of Lexaria for the patented and patent pending technology will actually be realized in any way. No statement in this document has been evaluated by the Food and Drug Administration (FDA). Products associated with Lexaria are not intended to diagnose, treat, cure or prevent any disease.
The CSE has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.
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