Full Press Release Details
Lexaria Receives Notice of Allowance of First Patent by US
Kelowna, BC / July 12, 2016 / Lexaria Bioscience Corp.
(OTCQB:LXRP) (CSE:LXX) (the Company ) is very pleased to announce a watershed
event in its advancement as a bioscience company: it has just received its first
Notice of Allowance for one of its US patent applications from the US Patent and
Trademark Office (USPTO).
Lexaria is very pleased at the unexpectedly rapid allowance of
these first claims protecting its intellectual property portfolio by the USPTO,
and has every reason to believe this is only the first of what will be several
successful patent applications. The Notice of Allowance concludes the
substantive examination of US Patent Application Serial No. 14/735,844 by the
USPTO and will result in the issuance of a US patent after remaining
administrative processes are completed in the next several weeks. The US patent
scheduled to issue from this application will expire no earlier than June 10,
This patent application allowance adds value to the Company in
First, the issued patent will provide us with the exclusive
right to prevent others from making, using, selling, or importing the claimed
invention in the US, and the right to collect damages for any such unlawful
activity. This greatly strengthens our competitive position and elevates the
relative value of our intellectual property (IP).
Second, it strengthens the Company s financial leverage for
existing and future technology licensing agreement negotiations with our
USPTO-recognized IP. Lexaria previously began monetizing its IP in May 2016 with
our first licensing agreement, and is now in a stronger position than ever to
both continue and even accelerate this process.
Third, it strengthens our optimism that the Company will
achieve similar success with additional IP claims it has filed with the USPTO
and under the international Patent Cooperation Treaty (PCT). As Lexaria
continues to expand its allowable and issued patent portfolio, its ability to
enter additional technology licensing agreements should greatly expand.
The title of the patent application allowed by the USPTO is
Food and Beverage Compositions Infused with Lipophilic Active Agents and Method
of Use Thereof . The allowed application includes a series of Lexaria s method
claims for combining a lipophilic active agent together with a bioavailability
and taste enhancing oil by way of dehydration or lyophilization, and doing so in
contact with a food product substrate material. Lexaria still has a number of
additional patent applications undergoing review by the USPTO and patent
application continuations planned in order to further broaden its expected set
of compositional and method patent claims regarding the technology. As a result,
it is not possible to know how many additional allowed patents may be achievable
although there could be many.
Lexaria believes that anytime and every time it is successful
in progressing a patent application into a granted patent, it not only
reinforces the validity of its underlying encapsulation technology, but it also
opens new areas of potential revenue generation and economic activity, said
John Docherty, President of the Company. Lexaria s allowed and pending patent
portfolio is both broad and deep and its executives continue to investigate
additional new areas of IP that could be symbiotic with that which is already
Lexaria s business plan is focused in part on the leveraging of its IP
prowess in disparate areas of the economy, such as the rapidly evolving cannabinoid sector;
the vitamin sector; the NSAID sector; and even the nicotine sector. Lexaria s
unique technology allows for more efficient and effective absorption of
molecules such as these, while simultaneously masking, and at times even
eliminating, inherent strong flavours and/or odors typical of those molecules.
Lexaria s technology is extremely cost effective to implement and applicable to
the widest imaginable spectrum of foods including but not limited to chocolates,
candies, coffee, tea, a wide variety of other beverages, protein bars, cookies,
pastas, entrees, breads, and much more.
The Company is grateful for the dedication and vision of its
technology founders, of its talented IP team, and of its management team who
have together guided this successful process.
Lexaria Bioscience Corp. is a food sciences
company focused on the delivery of active compounds that can behave as
superfoods through its proprietary infusion technologies. Lexaria s technology
enables higher bioavailability rates for CBD; THC; NSAIDs; Nicotine and other
molecules than is possible without lipophilic enhancement technology. This can
allow for lower overall dosing requirements and/or higher effectiveness in
active molecule delivery. Lexaria hopes to reduce other common but less healthy
ingestion methods such as smoking as it embraces the benefits of public health.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience Corp.
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements
which are not historical facts are forward-looking statements. The Company makes
forward-looking public statements concerning its expected future financial
position, results of operations, cash flows, financing plans, business strategy,
products and services, competitive positions, growth opportunities, plans and
objectives of management for future operations, including statements that
include words such as "anticipate," "if," "believe," "plan," "estimate,"
"expect," "intend," "may," "could," "should," "will," and other similar
expressions are forward-looking statements, including but not limited to: any
revenue or license fee payments that may be realized from the license agreement,
the introduction of any product lines that are derived from the license
agreement, that any similar license arrangements may be entered into with other
companies or partners, that the Company s technology enables higher rates of
absorption of certain molecules such as vitamins and cannabinoids while
simultaneously masking and at times even eliminating inherent strong flavors
and/or odors typical of those molecules, or that the technology will function in
a similar manner if tested with THC, nicotine, or any of the other molecules
named in our patent applications. Such forward-looking statements are estimates
reflecting the Company's best judgment based upon 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 such forward-looking statements.
Access to capital, or lack thereof, is a major risk and there is no assurance
that the Company will be able to raise required working capital. Factors which
could cause actual results to differ materially from those estimated by the
Company include, but are not limited to, government regulation, managing and
maintaining growth, the effect of adverse publicity, litigation, competition,
the patent application and approval process and other factors which may be