Lexaria Nicotine LLC, a subsidiary of Lexaria BioScience, has announced that Altria has entered an investment agreement with Lexaria Nicotine to fund research on oral nicotine delivery formulations, according to in a company press release.

The Canadian-based Lexaria BioScience, which owns the majority of Lexaria Nicotine LLC, announced in the press release that Altria will be allowed to appoint one of the seven directors on Lexaria Nicotine’s board of directors, according to the report. In addition to that, the tobacco giant has been granted a license to use Lexaria’s patented DehydraTECH technology for oral nicotine delivery formulations for commercial use, the company said in the press release.
Chris Bunka, CEO of Lexaria Bioscience, commented on the investment agreement saying, “Lexaria Bioscience is proud that, after careful selection, Altria has chosen to fund research into DehydraTECH technology and potentially commercialise this technology for oral nicotine.”
In the press release, John Docherty, President of Lexaria Bioscience added, “Lexaria Bioscience has repeatedly demonstrated the powerful effects of its patented DehydraTECH technology for enhancing the palatability and speed of onset of orally-consumed bioactive substances such as nicotine.”