Lexaria Bioscience Corp. (NASDAQ:LEXX) shares are trading higher after the company announced manufacturing and license agreements with BevNology.
The first agreement is a manufacturing operating agreement that expands production capabilities for Lexaria’s own growing list of business-to-business clientele interested in purchasing DehydraTECH-powered active ingredients for consumer packaged-goods brands.
The second agreement is a commercial license agreement that empowers BevNology to offer DehydraTECH products with active ingredients derived from hemp including cannabidiol (CBD) under BevNology and partnered brands.
Chris Bunka, CEO of Lexaria, commented “These agreements build on a long standing and very successful product development consulting relationship between Lexaria and the expert scientists and personnel at BevNology.”
Lexaria Bioscience Corp patented drug delivery technology, DehydraTECH improves the way active pharmaceutical ingredients enter the bloodstream by promoting more effective oral delivery.
LEXX Price Action: Lexaria Bioscience Corp. has traded between $12.50 and $1.85 over a 52-week period.
The stock was trading about 19% higher at $2.78 per share on Tuesday at the time of publication.
