Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced its latest global, exclusive license to SulfoSyn Limited to use its patented DehydraTECH(TM) technology. This license will allow SulfoSyn to use Lexaria’s technology in non-pharmaceutical uses of sulforaphane worldwide, with the ability to sub-license its rights to other companies (https://ibn.fm/E48bP).
This agreement is the product of months of research for the two entities. In late 2022, both Lexaria and SulfoSyn started exploring the applicability of DehydraTECH upon sulforaphane. This Sulphur-rich composite molecule is commonly found in vegetables such as broccoli, kale, and cabbage. The testing established that DehydraTECH did have certain superior qualities on the sulforaphane molecule, a result that showed the technology’s commercial viability, specifically for SulfoSyn.
As a result, SulfoSyn will be at liberty to use the DehydraTECH technology for various non-pharmaceutical uses, including supplements, foods, additives, dietary ingredients, and more. In addition, Lexaria has also been contracted by the company to perform specific DehydraTECH-related manufacturing operations on behalf of SulfoSyn for an initial term of 2 years, an engagement that will see Lexaria increase its revenue.
An up-front cash payment has since been paid by SulfoSyn, with minimum future payments already agreed to. In addition, the licensing agreement will see an ongoing royalty payment generated once the minimum payments are exceeded.
This license agreement with SulfoSyn adds to Lexaria’s growing list, which, in the last two years, includes BevNology LLC, Premier Wellness Science Co. Ltd., and Dehydr8, LLC, among others. Given the company’s focus on licensing its technology to companies worldwide, this latest addition marks a significant milestone while highlighting its current growth trajectory, particularly as it continues to create value for its shareholders.
In addition, this milestone highlights the superiority of Lexaria’s DehydraTECH technology, as further compounded by the patents received so far and the pending patents worldwide. On August 29 and September 26, the company received its latest new patents in Canada, bringing the total number of granted patents to 37. Even so, Lexaria continues to invest heavily in its research and development (“R&D”), exploring the potential usage of its technology in various areas of application, including nicotine replacement, antivirals, cardiovascular drugs, human hormone delivery, CBD, PDE5 inhibitors and more.
For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://ibn.fm/LEXX
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