Lexaria Bioscience Corp (CSE:LXX) (OTCMKTS:LXRP) cited on Tuesday a Food and Drug Administration statement on the development of safe and effective nicotine replacement therapies to help smokers quit cigarettes.
The Kelowna, British Columbia-based firm said it was working with a "world-leading tobacco company" to develop ingestible delivery of nicotine.
Positive results of this research and development program could provide nicotine products that meet the goals of the FDA, Lexaria said in a statement Tuesday. The company added that it will earn royalties on products sold by its tobacco partner that use its DehydraTECH delivery technology.
FDA Commissioner Scott Gottlieb said in a February 21 statement cited by Lexaria that nicotine replacement therapy is generally considered "to double the likelihood of a successful quit attempt.”
Lexaria said its technology could offer a method of delivering nicotine that preserves consumer choice, avoids the most serious health consequences of smoking cigarettes and harmonizes with current FDA policies.
The technology, according to the company, increases intestinal absorption, speeds delivery to the bloodstream and provides taste-masking benefits for orally administered bioactive molecules including cannabinoids, vitamins, non-steroidal anti-inflammatory drugs, nicotine and other molecules.
In January, a unit of Lexaria entered into a definitive agreement with Altria Group Inc (NYSE:MO) to fund the research and development of Lexaria's patented DehydraTECH technology.
Shares of Lexaria rose 1.7% to C$1.84 in Monday’s Canadian trading. They climbed 2.2% to US$1.41 on the OTC Markets.
Contact Dennis Fitzgerald at [email protected]