Lexaria Bioscience Corp., a leader in drug delivery platform innovation, has announced the granting of two new international patents, bringing its total worldwide patent portfolio to 50. This achievement underscores the company's commitment to expanding its intellectual property in the pharmaceutical and nicotine delivery sectors. The new patents include one in Australia for epilepsy treatment and another in Japan for the sublingual delivery of nicotine, both utilizing Lexaria's DehydraTECH™ technology.
The epilepsy treatment patent enhances Lexaria's position in a market projected to exceed $15 billion by 2032, addressing the needs of approximately 50 million people affected by epilepsy in the US alone. Similarly, the nicotine delivery patent taps into the rapidly growing global retail oral nicotine market, expected to reach $25.4 billion by 2030. These developments not only bolster Lexaria's patent portfolio but also increase its potential for commercial partnerships within the pharmaceutical industry.
Rich Christopher, CEO of Lexaria, highlighted the significance of reaching 50 patents as a milestone that aligns with the company's long-term strategy to protect and create value for shareholders and stakeholders. With patents set to expire in 2043 and 2044, Lexaria is poised for sustained growth and innovation in drug delivery technologies.
