Lexaria Grants Exclusive License to Premier Wellness Science for Japanese Market

Expanding its footprint in the Japanese health and wellness market, Lexaria Bioscience (NASDAQ:LEXX), has signed an exclusive commercial licensing agreement with Premier Wellness Science Co. Ltd.

Lexaria, a global innovator in drug delivery platforms, will exclusively license its DehydraTECH technology in Japan for use with CBD and hemp ingredients, with minimum payments to surpass $4.5 million over the first five years, beginning Sept. 1, as well as significant growth potential.

The personal products and cosmetics industry in Japan is estimated to exceed $35 billion in annual sales, according to the Ministry of Economy, Trade and Industry. In particular, Premier is purchasing the rights to DehydraTECH for the non-pharmaceutical market for use with CBD and hemp ingredients in oral liquid and non-liquid products as well as for topical, hair care, lip care and cosmetics. Lexaria will also receive royalty revenue from DehydraTECH licensed product sales in Japan.

The two companies have also agreed to consider research and development collaborations going forward related to advanced formulation science.

“Premier conducted a global competition to evaluate the world’s most advanced molecule delivery technologies, and selected Lexaria’s DehydraTECH technology based on its superior performance and the extensive data available through Lexaria’s years of testing,” said Shinji Shosoyama, CEO of Premier.

“Lexaria is delighted to be working with Premier Wellness Science which we expect will dominate the newly opening Japanese market for CBD-based products,” said Chris Bunka, CEO of Lexaria. “Premier and Lexaria share similar philosophies, such as the provision of world-leading products created through scientific advantages and placing the consumer’s needs ahead of our own. We could not have found a better partner with which to introduce DehydraTECH-enabled products to the Japanese markets.”

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Lexaria Grants Exclusive License to Premier Wellness Science for Japanese Market

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