Lexaria Bioscience Corp., a leader in drug delivery platform innovation, has announced the granting of two new international patents, elevating its global patent portfolio to 50. This achievement underscores the company's commitment to advancing its DehydraTECH™ technology, which enhances the oral delivery of pharmaceutical ingredients. The new patents include one in Australia for epilepsy treatment and another in Japan for the sublingual delivery of nicotine, broadening Lexaria's intellectual property protection in these critical areas.
The epilepsy treatment patent in Australia complements Lexaria's existing six patents in the USA, offering a new avenue for addressing a market valued at US$9.5 billion in 2023 and projected to exceed $15 billion by 2032. With approximately 50 million people in the US affected by epilepsy, this patent represents a significant step forward in treatment options. Similarly, the patent for sublingual nicotine delivery in Japan joins existing patents in the USA and Canada, tapping into a global retail oral nicotine market expected to grow at 26% annually until at least 2030.
Rich Christopher, CEO of Lexaria, highlighted the strategic importance of these patents in enhancing the company's commercial prospects within the pharmaceutical industry and creating long-term value for stakeholders. The patents, set to expire in 2044 and 2043 respectively, are a testament to Lexaria's decade-long vision of building a robust patent portfolio. The company's DehydraTECH™ technology has shown promise in improving drug absorption and delivery, particularly in the nicotine pouch market, which is projected to reach US$25.4 billion in revenue by 2030.
Lexaria's achievement of 50 worldwide patents is not just a milestone for the company but also a significant development in the pharmaceutical and nicotine delivery sectors. By expanding its patent portfolio, Lexaria is positioning itself as a key player in the development of innovative drug delivery solutions, with potential implications for millions of patients and consumers worldwide.
