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8-K - FORM 8-K - Lexaria Bioscience Corp. | form8k.htm |
Exhibit 99.1
Lexaria Announces Research on Nonsteroidal Anti-Inflammatory Drugs
Kelowna, BC / May 10, 2017 / Lexaria Bioscience Corp (OTCQB:LXRP) (CSE:LXX) (the Company, Lexaria) announces plans for research and formulation development (R&D) on nonsteroidal anti-inflammatory drugs (NSAIDs) utilizing its patented technology and as provisioned within its previously announced 2017 & 2018 R&D program.
Lexaria will conduct in vitro absorption studies utilizing the Companys technology to examine improvements in absorption across human intestinal tissue, which is expected to be followed by in vivo (animal) studies to confirm the Companys hypothesis regarding first-pass liver metabolism. The Company postulates that its technology may enable oral delivery of NSAIDs without encountering first-pass liver metabolism, which has the potential to greatly reduce corresponding liver damage.
Pain-relief drugs are comprised mostly of NSAIDs and of opioids and represented a $36.6 billion market in 2014. (MSP, BCC Research - The Global Market for Pain Management Drugs and Devices, September 2015) Long term use or overuse of NSAIDs has been associated with chronic liver conditions that can be debilitating and even cause death
Common generic forms of NSAIDS are products such as Aspirin, Ibuprofen, Naproxen, Diclofenac and others. Acetaminophen is sometimes included within this list. More effective absorption of NSAIDS may also lead to more effective pain killing properties, thus allowing for fewer opioid medication prescriptions. Prescription based opioid medications are responsible for nearly 18,000 deaths annually in the USA. (National Institute of Health)
Lexaria has a total of 18 patents pending including the delivery of NSAIDs - and patent applications filed in more than 40 countries worldwide.
Separately, Lexaria also announces it has received US$34,753.40 from the exercise of warrants previously granted. The stock warrants were exercised at prices of US$0.2273 and US$0.1818, for a total of 156,750 common shares being issued. All warrants are being exercised by third parties who are neither officers nor directors of the Company.
No commissions or placement fees have been paid related to the funds received from this warrant exercise. Proceeds will be used for general corporate purposes. Lexaria extends its thanks to its loyal shareholders for their continued support.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Lexaria
Lexaria Bioscience Corp. is a food
biosciences company with a proprietary technology for improved delivery of
bioactive compounds. The Companys lipophilic enhancement technology has been
shown to enhance the bioavailability of orally ingested cannabinoids, while also
masking taste. This technology promotes healthy ingestion methods, lower overall
dosing and higher effectiveness in active molecule delivery. The Companys
technology is patent-protected for cannabidiol (CBD) and all other
non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol
(THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs
(NSAIDs), nicotine and other molecules.
www.lexariabioscience.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Bioscience
Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
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. 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. 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 identified from time to time in
the Company's public announcements and filings. Plans can change thus there is
no assurance that any currently planned R&D will in fact occur, or that any
R&D will provide successful or useful data or results. There is no assurance
that existing capital is sufficient for the Company's needs or that it will be
able to raise additional capital. There is no assurance that Lexaria will
successfully complete any other contemplated or existing technology license
agreements, nor that Lexarias technology will deliver any improvement in taste
or bioavailability with any reliability nor across any product category. There
is no assurance that any planned corporate activity, business venture, or
initiative will be pursued, or if pursued, will be successful. There is no
assurance that any hemp oil or cannabinoid-based product will promote, assist,
or maintain any beneficial human health conditions whatsoever, nor that any
patent application in the USA or any other nation or under any treaty will
result in the award of an actual patent; nor that an award of any actual patent
will protect against challenges from unknown third parties. There is no
assurance that any of Lexarias postulated uses, benefits, or advantages for the
patent-pending technology will in fact be realized in any manner or in any part.
No statement herein has been evaluated by the Food and Drug Administration
(FDA)or by Health Canada. Lexaria products are not intended to diagnose, treat,
cure or prevent any disease.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.