Lexaria Bioscience Corp. (CSE: LXX) (OTCQB: LXRP) has developed delivery technologies to improve absorption of bioactive compounds and intends to use that technology in the tea market. The company plans to apply its patented DehydraTECH™ technology to supplement a range of black teas with cannabidiol (CBD) from hemp. An article discussing this reads: “Lexaria’s acquisition of Poviva Tea, LLC, announced on November 2 (http://cnw.fm/An29S), gives Lexaria a toehold in this vast $7 billion-plus market and consolidates ownership of Poviva Tea, LLC as a wholly owned Lexaria Bioscience subsidiary. The move also simplifies future operations and certain intellectual property ownership issues. In addition, Lexaria announced that, effectively immediately, PoViva Tea will now operate with the trade name of ViPovaTM Tea. The company believes that the rebranding will ensure long-term protection of intellectual rights. At the center of this strategy is Lexaria’s patented DehydraTECH technology, which is focused on improving the delivery of many commonly used Active Pharmaceutical Ingredients (APIs). The DehydraTECH technology provides an additional layer of effectiveness, designed to harmonize with the intellectual property of third parties, which both patented and generic API substances can employ. Lexaria’s long term strategy is to partner with the world’s leading firms as they deliver best-of-class products to their existing large consumer groups.”
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Lexaria Bioscience Corp. (CSE: LXX) (OTCQB: LXRP) Enters the Multibillion-Dollar Tea Market
