Lexaria Bioscience (LEXX.NASDAQ) (LEXX.CSE) $11 million financing supports R&D program targeting high blood pressure and SARS-CoV-2 infection

Rhea-AI Summary

Lexaria Bioscience (NASDAQ: LEXX) has raised $11 million to support its research and development (R&D) strategy focusing on its patented DehydraTECH technology. This technology enhances the bioavailability of drugs, particularly in the treatment of hypertension and antiviral therapies. The company is set to conduct clinical studies on a CBD formulation aimed at lowering blood pressure and is working on improving antiviral drug delivery against COVID-19. CEO Chris Bunka highlights the significant market potential, with hypertension alone representing a $30 billion industry.

Positive

• Raised $11 million to fund R&D efforts.
• Ambitious R&D strategy targeting high blood pressure and COVID-19.
• Expecting significant improvements in drug delivery with DehydraTECH technology.

Negative

• None.

VANCOUVER, BC, Feb. 16, 2021 /PRNewswire/ - Lexaria Bioscience's (NASDAQ: LEXX) (CSE: LEXX) drug delivery technology, DehydraTECH^TM improves the "bioavailability" of pharmaceutical ingredients.

"Bioavailability is the rate and extent to which a therapeutically active substance enters systemic circulation and becomes available at the required site of action," states the U.S. National Library of Medicine.

Last month, LEXX raised USD $11 million. On February 1, 2021, LEXX announced an ambitious R&D strategy to advance DehydraTECH^TM towards commercial exploitation in two main sectors: high blood pressure and anti-viral drugs.

Intravenous needles are the holy grail of bioavailability - delivering 100% efficiency - which is why hospital patients are typically on an I.V. drip.

Orally ingested drugs "must pass through the intestinal wall and then the portal circulation to the liver," explains Merck Manual, "both are common sites of First-Pass Metabolism".

During The First Pass Effect drugs are metabolized in the liver - resulting in a lower concentration of active drugs in the blood system.

A technology that can reduce The First Pass Effect for many drugs will achieve two significant outcomes: 1. increased medical benefits to patients and 2. higher profits to pharmaceutical companies.

DehydraTECH-CBD For Hypertension

On July 28, 2020 Lexaria received European ethics board approval to conduct a clinical study using a DehydraTECH™-CBD formulation to assess blood pressure reduction potential in volunteers with pre- or mild-hypertension.

The global CBD market is "expected to reach $23.6 billion in 2025," according to Grandview Research.

"Hypertension [high blood pressure] is a $30 billion a year market," explains Chris Bunka, CEO of Lexaria, "Over 1 billion people around the world suffer from this condition".

Scanning the last 10 years of LEXX Insider Filings – there are no recorded sales of Lexaria shares by Mr. Bunka, but more than 75 incidences of Bunka purchasing shares on the open market, increasing his ownership position to 10% in 2021.

The Study will be a double-blinded, placebo-controlled, cross-over pilot study in which 24 volunteers will be randomized to receive a 300 mg dose of CBD with or without DehydraTECH^TM.

In a "double blind study", neither the participants nor the investigators know who is receiving a particular treatment.

Formulations of DehydraTECH-processed CBD will be utilized including recent enhancements intended to further optimize the delivery of CBD in the animal test groups.

Additional planned study work in 2021 will include a second human clinical study in pre-and mildly-hypertensive subjects, pending regulatory clearances.

"Following on our 2018 study, we intend to demonstrate a linear improvement in delivering lower blood pressure," stated Bunka.

"Later in 2021, we hope to start knocking on the doors of pharmaceutical partners who already have hypertension drugs in the market place."

DehydraTECH with Antivirals for COVID-19

On December 1, 2020, Lexaria announced that, in an animal study, DehydraTECH^TM "significantly improved delivery in two classes of antiviral therapies under investigation against SARS-CoV-2/COVID-19 and already in use against HIV/AIDS".

Lexaria will be testing four antiviral drugs including remdesivir, a nucleotide reverse transcriptase inhibitor and three additional drugs known to target the main protease associated with SARS-CoV-2 infection.

The first of these studies VIRAL-A20-2, has completed its initial design phase and animal dosing is expected to occur in February/March, 2021 with results in May/June followed by analysis and reporting.

"The data that we generate from this R&D campaign is applied research," Mr. Bunka told Proactive on Feb 1, 2021, "it allows us to enter meaningful discussions with potential commercial partners".

"What we are trying to do is expand the list of drugs that will work with our technology," added Bunka.

Full Disclaimer

View original content:http://www.prnewswire.com/news-releases/lexaria-bioscience-lexxnasdaq-lexxcse-11-million-financing-supports-rd-program-targeting-high-blood-pressure-and-sars-cov-2-infection-301228385.html

SOURCE Global Stocks News

FAQ

What is Lexaria Bioscience's focus with the $11 million raised?

Lexaria Bioscience is focusing its $11 million financing on research and development for its DehydraTECH technology, targeting hypertension and antiviral drugs.

How does DehydraTECH technology improve drug delivery?

DehydraTECH technology enhances the bioavailability of pharmaceutical ingredients, improving drug delivery by reducing the First Pass Effect.

What are the expected markets for Lexaria's products?

Lexaria aims to enter the hypertension market, valued at $30 billion, and the global CBD market, projected to reach $23.6 billion by 2025.

When will the clinical studies for hypertension and antiviral drugs begin?

The clinical studies for hypertension using DehydraTECH-CBD will commence following regulatory approvals, while antiviral drug studies are set to start in February/March 2021.

What is the significance of the double-blinded studies planned by Lexaria?

Double-blinded studies help ensure unbiased results by preventing both participants and investigators from knowing who receives the treatment, enhancing the reliability of clinical data.