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- Lexaria, a global innovator in drug delivery platforms, announced the appointment of Richard Christopher as its new CEO, replacing Chris Bunka who will serve in his new capacity as Executive Strategic Advisor while remaining Chairman of the Board
- Lexaria also announced entering a Material Transfer Agreement with an undisclosed pharmaceutical industry partner, leading to speculation of which company has taken this formal step to get closer to Lexaria’s technology
- The company is focusing on this pharmaceutical industry collaboration and on investigations in cardiometabolic and GLP-1 sectors (alternative diabetes and obesity treatments), a huge sector that particularly needs its unmatched technology
- The company seems one step closer to exploiting commercial opportunities in the sector, with a goal toward associated commercialization of its patented DehydraTECH technology
Lexaria (NASDAQ: LEXX), a global innovator in drug delivery platforms, has, since 2016, worked on the development of its patented DehydraTECH(TM) technology. It has repeatedly demonstrated the ability to increase bio-absorption and has also evidenced an ability to deliver some drugs more effectively across the blood-brain barrier. These efforts have earned it 46 patents in the United States, European Union and other countries, with many more pending worldwide (https://cnw.fm/mBfkA).
With the success achieved thus far, Lexaria is looking to pivot and focus on pharmaceutical industry collaboration and operations. To help steer it in the right direction, the company appointed Richard Christopher as its new CEO, effective Aug. 31, 2024. He will replace Chris Bunka, who will serve in his new capacity as Executive Strategic Advisor to the management team. He will continue to support and advise Lexaria and remain chairman of the board of directors.
“I’m delighted that I have been appointed to lead Lexaria,” noted Mr. Christopher. “The company is well positioned for an exciting period of growth centered around the advancement and improvement of drug delivery in the GLP-1 marketplace. We are preparing for an active and collaborative new era for Lexaria in the pharmaceutical industry,” he added (https://cnw.fm/kj2tz).
Mr. Christopher will lend his vast experience spanning more than three decades in the medical device and pharmaceutical industries. He also has domestic and international experience in leadership, operations, acquisitions/licensing, business development, strategic planning, and capital markets. Most recently, he was the Chief Financial Officer at InVivo Therapeutics, a research and clinical-stage biomaterials and biotechnology company focusing on treating spinal cord injuries.
This appointment directly followed the Material Transfer Agreement with a pharmaceutical company (“PharmaCO”) to evaluate Lexaria’s DehydraTECH technology in a pre-clinical setting. Under the terms of the agreement, Lexaria will formulate and supply certain DehydraTECH compositions for use in animal studies. PharmaCo has been awarded a temporary exclusive license option limited to specific DehydraTECH concepts and formulations under examination, and the project should be completed within roughly six months or less (https://cnw.fm/62ydz).
Lexaria is looking to double down on its DehydraTECH research and commercialization. This move points to this commitment and ushers in a new chapter for the company. Its management is optimistic about the future, not just from a commercial standpoint and creating shareholder value, but also by positively transforming human health.
For more information, visit the company’s website at www.LexariaBioscience.com.
NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX
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