QualityStocksNewsBreaks – Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) Subsidiary Enters Definitive Investment Agreement with Altria Ventures Inc.
Drug delivery platform innovator Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP) today announced that its wholly-owned subsidiary Lexaria Nicotine LLC has executed a definitive agreement with Altria Ventures Inc., an indirect wholly owned subsidiary of Altria Group, Inc. (NYSE: MO), to pursue innovation in oral, reduced risk nicotine consumer products using Lexaria's patented DehydraTECH™ technology. In exchange for a minority equity interest in Lexaria Nicotine and DehydraTECH™ license rights for oral nicotine delivery forms on an exclusive basis in the US and a non-exclusive basis elsewhere globally, Altria will fund a milestone-based research & development ("R&D") program to be executed by…