Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug-delivery platforms, is preparing for growth by executing a strategic growth plan. A key element of the plan includes expanding the company’s management team to enable efficient handling of a greater workload of projects and initiatives. With that in mind, the company has named Nelson Cabatuan as consulting chief strategic financial advisor; Cabatuan is currently serving as Lexaria CFO. In his new role, Cabatuan will leverage his skills in corporate finance and strategic industry relationships to focus on strategic opportunities. In addition, Lexaria is working on other research and development projects in connection with GLP-1 molecules of interest and is closely evaluating its phase 1b hypertension study, which has received clearance from the U.S. Food and Drug Administration to proceed, to determine next steps. “Lexaria has certain initiatives underway that are increasing confidence in our medium-term and longer-term strategies,” said Lexaria Bioscience CEO Chris Bunka in the press release. “As a result of the success we are experiencing and the continued success we are anticipating, we will be implementing a number of strategic steps in the weeks and months to come.”
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About Lexaria Bioscience Corp.
Lexaria Bioscience’s patented drug-delivery formulation and processing platform technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream through oral delivery. Since 2016, Lexaria has developed and investigated DehydraTECH with a variety of beneficial molecules in oral and topical formats. DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption and has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier, which Lexaria believes to be of particular importance for centrally active compounds. Lexaria operates a licensed, in-house research laboratory and holds a robust intellectual property portfolio with 46 patents granted and many patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.
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