Lexaria Bioscience (LEXX) Provides Update on Material Transfer Agreement with Pharmaceutical Company

Lexaria Bioscience Corp. (Nasdaq: LEXX, LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, provides this update on corporate developments.

Lexaria previously announced, on September 3, 2024, that it had entered into a Material Transfer Agreement ("MTA") with a pharmaceutical company ("PharmaCO") to evaluate Lexaria's DehydraTECH^TM technology in a pre-clinical setting.

Lexaria today announces that the initial pre-clinical studies covered by the MTA, which examined pharmacokinetics in animals, have been performed. Results of that work will not be made public. In addition, Lexaria reports being informed by PharmaCO that they wish to review the pending safety (adverse events) and efficacy data from Lexaria's ongoing independent human study GLP-1-H24-4 currently underway in Australia. We expect that data to become available beginning in Q3, 2025.

Lexaria is preparing for strategic planning discussions with PharmaCO's human clinical development team soon given the possibility that potential additional collaborative work may include human clinical studies.

The parties have agreed to continue their relationship under the MTA and to keep the temporary exclusive license active and in force until such time as the data from the Australian study becomes available and final decisions have been made, at which time further information will be provided.

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