Lexaria Enhances DehydraTECH Manufacturing Through BevNology Partnership
Kelowna, British Columbia -- June 21, 2022 -- NewsGenie -- Lexaria Bioscience Corp. (Nasdaq:LEXX) has signed two agreements with BevNology LLC to expand its DehydraTECH manufacturing capabilities and generate royalty revenue. The first agreement focuses on increasing production for Lexaria’s B2B clientele using DehydraTECH-powered active ingredients. BevNology’s new processing facility is already serving Lexaria’s corporate clients, with Lexaria having installed its commercial DehydraTECH manufacturing equipment in the facility. The second agreement grants BevNology a commercial license to offer DehydraTECH products with hemp-derived active ingredients, including CBD, under its own and partnered brands. Lexaria will receive royalties from BevNology’s sales under this license, with specific terms for powdered and liquid formulations. Gonzalo de Aristegui, partner and co-founder of Bevnology, expressed excitement about the expanded partnership, noting it would strengthen their relationship and boost development and manufacturing capabilities. Chris Bunka, CEO of Lexaria, highlighted the long-standing, successful product development consulting relationship between the two companies, confident that the new relationship would drive growth opportunities. Lexaria’s DehydraTECH technology has shown stability and purity in beverage formulations and is currently utilized by consumer-packaged goods brands in over 7,000 stores in the US and Japan. BevNology, founded 10 years ago, is the product development and manufacturing arm of IBC (InterContinental Beverage Capital), operating a state-of-the-art lab and manufacturing facility outside Atlanta, Georgia. Lexaria's patented drug delivery technology, DehydraTECH™, enhances the way active pharmaceutical ingredients enter the bloodstream, improving oral delivery and demonstrating increased bio-absorption with cannabinoids, antiviral drugs, and PDE5 inhibitors.