Lexaria Bioscience Corp. (NASDAQ:LEXX) has reached a significant intellectual property milestone, announcing the achievement of 50 patents worldwide following the grant of two new international patents for epilepsy treatment and nicotine delivery applications. The drug delivery platform company received patents in Australia and Japan, marking the culmination of over a decade of strategic patent development.
"The achievement of 50 worldwide patents marks the accomplishment of a milestone that had been envisioned by the Company's management for over a decade," said Rich Christopher, CEO of Lexaria. The company believes this expanded patent portfolio increases its likelihood of entering commercial deals within the pharmaceutical industry while establishing long-term value protection for stakeholders.
Epilepsy Treatment Patent Expansion
Lexaria has been granted a new patent in Australia within its patent family #24, titled "Compositions and Methods for Treating Epilepsy." This patent broadens the company's intellectual property protection for its DehydraTECH enhanced processing technology related to epilepsy treatment outside the United States, where the company already maintains a strong portfolio of six existing patents. The new Australian patent will expire in 2044.
The epilepsy drug market represents a substantial commercial opportunity, valued at $9.5 billion in 2023 and expected to reach sales of over $15 billion by 2032. Approximately 50 million people in the United States alone are affected by epilepsy, highlighting the significant unmet medical need in this therapeutic area.
Nicotine Delivery Technology Patent
The company also received a new patent in Japan within its patent family #20, "Compositions and Methods for Sublingual Delivery of Nicotine." This patent joins existing patents within the same family in both the United States and Canada, with the new Japanese patent set to expire in 2043.
The global retail oral nicotine market was valued at $5.5 billion in 2023 and is expected to grow at 26% annually until at least 2030, with additional revenue generated within the medically-prescribed market. The nicotine pouch market alone, where DehydraTECH has demonstrated absorption benefits in earlier studies, is expected to reach $25.4 billion in revenue by 2030.
DehydraTECH Platform Technology
DehydraTECH is Lexaria's patented drug delivery formulation and processing platform technology that improves the way active pharmaceutical ingredients enter the bloodstream through oral delivery. The technology has repeatedly demonstrated the ability to increase bio-absorption and has evidenced an ability to deliver some drugs more effectively across the blood-brain barrier.
Lexaria has developed and investigated DehydraTECH with a variety of beneficial molecules in oral formats. The company operates a licensed in-house research laboratory and maintains its robust intellectual property portfolio with 50 patents granted and additional patents pending worldwide.
Strategic Partnerships
Altria Ventures Inc., which holds a 16.67% stake in Lexaria Nicotine LLC, maintains a non-exclusive license to use DehydraTECH with nicotine products, demonstrating commercial validation of the technology platform.
