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Lexaria Bioscience announces R&D agreement with British American Tobacco
Lexaria Bioscience Corp. (OTCQX: LXRP) (CSE: LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, announces that it has entered a research and development (“R&D”) framework agreement with British American Tobacco (Investments) Limited (“BAT”) to investigate Lexaria’s technology for potential use in nicotine products.
R&D work under the Agreement will be paid for by BAT.
“Lexaria is pleased to work with British American Tobacco on these research and development activities,” said Chris Bunka, Chief Executive Officer of Lexaria, who is also responsible for the accuracy of this news release.
The Agreement does not contemplate development of oral nicotine consumer products in North America, given Lexaria’s existing North American relationship with a leading United States-based tobacco company. The Agreement is expected to be completed within six months, though provisions exist to extend the Agreement if required.