Lexaria Receives First Granted Patent in Canada

KELOWNA, BC / ACCESSWIRE / December 29, 2022 / Lexaria Bioscience Corp. (Nasdaq:LEXX)(Nasdaq:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms is pleased to announce its continued accumulation of international patent recognition with the receipt of its first granted patent in Canada, which is its 28^th granted patent worldwide.

Canadian Patent #3,093,414 is the first granted patent from Lexaria's sixth patent family and is entitled "Transdermal And/Or Dermal Delivery Of Lipophilic Active Agents". The patent is for improved compositions and methods for transdermal and dermal delivery of cannabinoids, including cannabidiol ("CBD") and tetrahydrocannabinol ("THC"). Similar patent applications for skin-based delivery of DehydraTECH formulations remain pending in many other countries.

Effective skin-based administration opens up new possibilities for pharmaceutical and medical applications of CBD and other cannabinoids for peripherally focused disease conditions in the body, or for those people who have difficulty with oral dosage forms. In countries where CBD is legal for non-pharmaceutical use, superior skin-penetrating advantages could prove to be commercially valuable.

In a 2018 study, Lexaria's DehydraTECH-CBD demonstrated almost a 1,900% increase in CBD permeability through human skin compared to a control formulation that was devoid of any commercial penetration enhancers. When compared to the highest performing commercial penetration enhancer that was evaluated in that study, DehydraTECH-CBD still offered a 225% increase in CBD permeability through the skin. Lexaria's DehydraTECH-CBD was also the fastest acting for absorption into the epidermis, dermis and through the skin into the representative systemic circulation.

Since 2018 Lexaria has developed significantly more powerful versions of DehydraTECH-CBD tested orally that have not yet been tested in skin penetration studies, but that may offer even further enhanced CBD delivery topically compared to its compositions tested to-date. Lexaria's DehydraTECH-CBD formulated topically also exhibits nearly zero unwanted odor often associated with cannabinoid extracts, without using any masking perfumes or other artificial agents to mask odor.

Delivery of drugs through the skin has been both an attractive and challenging area for research, as one of the principle functions of skin is to provide a barrier to the transportation of water and substances potentially harmful to normal homeostasis. The skin helps to prevent the entry of harmful substances into the body but can also be used to administer beneficial substances. The global skin-care market is estimated to be over $121 billion in annual sales, not including pharmaceutical applications.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s patented drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 28 patents granted and roughly 50 patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. 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 the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these 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 and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and 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). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
ir@lexariabioscience.com
Phone: 250-765-6424, ext 202

SOURCE: Lexaria Bioscience Corp.