Lexaria Bioscience Corp (OTCMKTS:LXRP) (CSE:LXX), a drug delivery platform company, revealed Wednesday that it has inked a five-year pact through its subsidiary Lexaria Hemp Corp with Nic's Beverages Ltd.
The company will provide its patented DehydraTECHTM technology to Nic's Beverages Ltd for making its CBD-infused beverages to be produced and sold in the United States.
The new license is the fourth beverage license awarded by Lexaria, three of which are for immediate use in the US and one in Canada pending new legislation taking effect in October.
Nic's Beverages will initially begin production of ready-to-drink cold brew coffees enhanced with CBD from multi spectrum hemp oil.
"We are currently in discussions with major wholesale houses and are looking to be in the market by the first of October," said Nic's Beverages CEO John Goodpasture. "DehydraTECH technology is perfect in allowing us to deliver CBD from hemp oil with zero impact on our cold brewed coffee's outstanding aroma or flavour. Nic's is extremely excited about our new product lines and our continued growth with Lexaria."
Lexaria Bioscience is a Kelowna, British Columbia company with 40 patents pending around the world for disruptive drug delivery technologies. A patent for DehydraTECH, which improves the taste, smell, speed and absorption of compounds, has been granted in the US and Australia.
DehydraTECH, according to Lexaria, 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.
Nic's Beverages was founded by a father and son team with a love for good coffee. The cold brew coffee is infused with CBD in four flavors.
Contact Uttara Choudhury at [email protected]