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Lexaria Bioscience Corp

Lexaria Bioscience secures cannabis R&D license from Health Canada

The license for the company’s new formulation lab will allow it to produce creams, lotions and focus on delivery of THC and CBD

Lexaria Bioscience Corp - Lexaria Bioscience secures cannabis R&D license from Health Canada
The company said that the license, which is effective immediately, has a four-year term until August 9, 2023 unless renewed

Lexaria Bioscience Corp (CSE:LXX) (OTCMKTS:LXRP) said Tuesday that its subsidiary, Lexaria CanPharm ULC, has been issued a cannabis research and development (R&D) license by Health Canada.

In a statement, the company said that the license, which is effective immediately, has a four-year term until August 9, 2023 unless renewed.

The company pointed out that that the license will allow one of Canada’s newest and most advanced formulation labs to carry out investigatory work in both THC and CBD delivery. The lab is fully rigged with the latest equipment needed to produce DehydraTECH infusions, it added.

READ: Lexaria Bioscience reveals exciting new findings from DehyraTECH study

The Kelowna, British Columbia-based company’s novel drug-delivery platform, masks unwanted tastes, improves onset speed and increases the bioavailability of active pharmaceutical ingredients in a simple and cost-effective platform.

It allows drugs and vitamins — in the case of cannabis, CBD and THC — to enter the bloodstream faster than existing drug delivery platforms.

Previously, Lexaria used third-party agencies and institutions to conduct much of its R&D with controlled substances. The new lab, where Lexaria now has a new full-time PhD research scientist, will drive forward many R&D programs which have already been designed on paper.

In a statement, John Docherty, who is the chief scientist at Lexaria said: “Receipt of our R&D license from Health Canada will allow us to implement and complete investigatory studies significantly more rapidly now, than at any previous time in our company’s history.”

Docherty also noted that the license will “greatly enhance” the lab’s ability to work with cannabis licensed producers to perform work in-house on customized formulations that could Canadian cannabis companies.

Lexaria shared its R&D blueprint, saying its lab will focus on producing and evaluating topical creams and lotions, orally-ingested product formats for delivery of active ingredients including THC, CBD, NSAID’s such as ibuprofen, PDE5-inhibitors such as those used in Viagra; nicotine and other molecules.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Quick facts: Lexaria Bioscience Corp

Price: $1.08

Market: CSE
Market Cap: $84.93 m
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