Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Lexaria Bioscience Corp. (NASDAQ: LEXX) Announces Pivotal Milestones Concerning DehydraTECH(TM) Technology, Including IND Application Plans

Lexaria’s patented DehydraTECH(TM) technology enhances drug bioavailability, making it useful for a wide range of product formats, including pharmaceuticals, neutraceuticals, consumer packaged goods, and over-the-counter pills, capsules, tablets, and oral suspensions
The company is currently exploring the potential benefits of DehydraTECH related to several molecules including, purified nicotine, CBD, antiviral drugs, human hormones, and PDE5 inhibitors
Lexaria recently announced the completion of its diabetes animal study DIAB-A22-1 with at least three positive outcomes using DehydraTECH-CBD
California-based InClin, Inc. has been awarded the contract for clinical research organization services for the expected upcoming FDA-registered, U.S. Phase 1b IND hypertension study, HYPER-H23-1
Four new patents have been added to Lexaria’s portfolio, bringing the total to 32 granted patents and more pending worldwide

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, is improving how active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules through its patented DehydraTECH(TM) technology. DehydraTECH can be used with a wide range of product formats, including pharmaceuticals, neutraceuticals, consumer packaged goods, and over-the-counter pills, capsules, tablets, and oral suspensions.

Lexaria is focusing its ongoing research and development efforts on advancing product candidates across several key segments, including nicotine replacement, cannabidiol (“CBD”) for hypertension, diabetes and epilepsy, antivirals, human hormones, and phosphodiesterase type 5 (“PDE5”) inhibitors.

The company recently announced the completion of its diabetes animal study DIAB-A22-1, with at least three positive outcomes, including weight loss in obese diabetic-conditioned animals, with improved triglycerides and cholesterol levels. Lexaria plans to conduct additional investigations to learn what an optimum DehydraTECH-CBD dose related to both weight loss and increased physical activity might be, considering that the higher dose studied may have created sedative-like effects of CBD triggering hypolocomotion, which has been observed upon high systemic exposure (https://cnw.fm/B2IOI).

Separately, Lexaria has also announced that California-based InClin, Inc. has been awarded the contract for clinical research organization (“CRO”) services for the expected upcoming Food and Drug Administration (“FDA”)-registered, U.S. Phase 1b Investigational New Drug (“IND”) hypertension study HYPER-H23-1 with its DehydraTECH-CBD.

The study is entitled ‘A Phase 1b Randomized, Double-Blind, Placebo-Controlled Study of the Safety, Pharmacokinetics, and Pharmacodynamics of DehydraTECH-CBD in Subjects with Stage 1 or Stage 2 Hypertension’. The primary objective of this study will be to evaluate the safety and tolerability in up to 120 hypertensive patients, with secondary objectives of efficacy evaluation in reducing blood pressure and detailed pharmacokinetic testing.

InClin is preparing for the study start-up, and Lexaria is expected to begin with patient dosing as soon as possible after the FDA IND filing and review are complete. The company anticipates filing the IND this summer, with FDA authorization likely to follow within about 60 days – resulting in Phase 1b trial commencement of patient dosing as early as October 2023.

According to a recent press release, InClin’s study start-up services include, but are not limited to, clinical site evaluation and selection, personnel and site training, project management, clinical database design and management, quality assurance support, medical writing, study documentation creation, biostatistics and programming, support vendor coordination, Independent Review Board submissions and more (https://cnw.fm/tnB9F).

At the end of April, Lexaria announced that it had received notification of being awarded or allowed four new patents, bringing the total up to 32 granted or allowed patents and even more pending worldwide. The new patents include the United States, Japan, Australia, and Canada. The patent in the U.S. will be the first for Patent Family #21: Compositions and Methods of Treating Hypertension, which the company believes will be particularly important related to its pursuit of utilizing DehydraTECH-CBD concerning the company’s upcoming FDA IND application (https://cnw.fm/lJnXx).

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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW — Groups Urge Leaders to Expedite Passing Cannabis Banking Legislation

All 50 states’ banking associations, as well as several financial, union and insurance organizations, are urging the Senate committee to enact a cannabis banking bill as soon as feasible. Several state and national organizations wrote to the Senate Banking Committee’s leadership, urging prompt action on the SAFE Banking Act.

Among those voicing support for the act are the American Bankers Association (ABA), the Electronic Transactions Association (ETA), the Independent Community Bankers of America (ICBA), a coalition of trade associations representing the insurance industry and the International Brotherhood of Teamsters. Separately, the national ABA wrote to Congressional leadership urging prompt adoption of the SAFE Banking Act.

In a letter to the Senate sponsors of the Act, the ICBA stated that the proposed legislation will address a significant public safety issue and settle a discrepancy between state and federal law. A different letter from the Teamsters Union’s president stated that the banking bill would significantly increase workplace safety by enabling banks and other financial institutions to offer services to legal marijuana-related businesses.

In a single letter, nine distinct insurance trade organizations stated that the varying legal statuses of cannabis and cannabis-related products under state and federal law, as well as state regulation, could expose their sector to liability. The organizations suggested that the bill be changed to incorporate clauses from a newly reintroduced measure that would give insurance providers that collaborate with cannabis firms more protection.

Senators from both sides have pushed for swift action on the standalone bill, which would shield banks from federal regulators’ penalties when they deal with state-legal marijuana businesses. Senator Sherrod Brown, chairman of the banking committee, recently stated that he expected senators to move swiftly on the banking act, and that has been the case so far. A week or so after being reintroduced in both chambers, the announcement of a date for its hearing was made.

Senate Majority Leader Chuck Schumer stated that he would bring the bill to the floor if it passed the committee. He also underlined that it would be altered to include provisions for expungements.

The standalone banking bill is one of the most likely marijuana laws to pass this session in a GOP-controlled House. It has been passed in some form by the House on generally bipartisan lines multiple times in recent years, but both Republican and Democratic leadership in the Senate have failed to move it forward.

The challenge of limited access to banking services that marijuana companies face aren’t experienced in the operations of other entities such as IGC Pharma Inc. (NYSE American: IGC), which are engaged in studying cannabis compounds with a view to developing formulations that meet FDA criteria for approval.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — New Hampshire Governor Voices Support for Cannabis Legalization After Senate Rejects Bill

Governor Chris Sununu of New Hampshire recently announced support for a resolution to enact marijuana legalization via a system of stores run by the state. What happens next remains uncertain, as a bill that would have established a state-run market, which had been approved by the House during the previous session, was rejected by the Senate. The Senate defeated the measure in a vote of 14 to 10.

However, now that the governor has voiced his support, there may be a renewed push to advance a state-run resolution. In his statement, Governor Sununu stated that public opinion and regional dynamics had forced him to reconsider his previous position on this topic. Sununu explained that New Hampshire was the only state in New England where adult-use marijuana wasn’t legal.

He went on to note that it was reasonable to assume change was inevitable as the majority of the state’s residents were in favor of legalization, adding that ignoring this would be both harmful as well as shortsighted. Sununu also revealed that he was ready to sign a legalization measure that focused on harm reduction instead of profits.

He then listed certain provisions he felt needed to be included in a cannabis legalization measure, which included local control that permitted cities to prohibit marijuana retailers from operating in their jurisdiction. The governor also highlighted that cannabis need not be taxed, as this would help curtail the illicit market which had become exceedingly dangerous with fentanyl’s prevalence. He then underscored how regulating the sale of cannabis would ensure New Hampshire’s citizens were in a safer place.

The bill’s sponsor, House Majority Leader Jason Osborne, stated that he was glad to see the governor weigh in with his support.

In an interview, Karen O’Keefe, the director of state policies for the Marijuana Policy Project, stated that it was encouraging to see the governor express some candor regarding marijuana legalization and acknowledge that the will of the voters would eventually prevail. However, it remains to be seen whether legislators will move to reintroduce a state-run legalization resolution.

This comes after Senate President Jeb Bradley indicated that he didn’t feel legislators needed to be prioritizing recreational cannabis reform at all. In a recent statement, the senate president stated that recreationalizing cannabis at this point would convey a confusing message, possibly worsening the already dangerous drug landscape and placing more at risk. He highlighted that this wasn’t the proper time to divert attention away from addressing the challenges caused by the drug crisis.

This course of action being suggested by the New Hampshire governor is likely to be of great interest to marijuana companies as well as ancillary companies that support the sector, such as Advanced Container Technologies Inc. (OTC: ACTX). Cannabis legislation could significantly impact the trajectory of the industry in the state and create opportunities for business.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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420 with CNW — How Governments’ Greed for Taxes Is Frustrating Legal Cannabis Sales

The question of whether individuals should be allowed to use drugs recreationally, particularly marijuana, has long been up for discussion. Advocates claimed that legalizing these drugs would reduce their availability on the black market. Prices would decrease, and gangs and organized crime, which have long benefited from the movement and sale of illicit substances, would decline.

However, this has not changed anything. Cannabis still retains the same legal status under federal law. According to the DEA, marijuana is still classified as a Schedule I restricted drug because there is no federally acknowledged medicinal use for it in the United States. Several states have ignored this position regardless of whether or not such an evaluation is accurate.

The Tax Foundation states that one of the most contentious political problems in the United States is the taxation of recreational marijuana. States may have quite different rates for excise and sales taxes on the same goods. A city’s own sales tax may also be added in some situations.

For instance, Washington state levies a sales tax of 37% on retail cannabis, while Virginia levies a tax of 21%, Montana levies a tax of 20%, Oregon levies a tax of 17% and Vermont levies a tax of 14%. In some states, wholesale and retail prices are both subject to excise taxes. Others charge tax based on how much product is purchased.

Any time there is an excessive tax rate on a good or service, some people will try to take advantage of the situation or go to the illegal markets.

However, there are other difficulties in addition to the extremely inflated tax rates. The application and approval procedures to become a licensed marijuana retailer can be somewhat onerous in some states. In some states, a license application may take months to complete the licensing procedure, only for it to be rejected. Vendors now have the option to forego the procedure and start selling the goods nonetheless, something that would be criminal. Furthermore, they are free to forego tax collection if they skip the licensing procedure.

The illicit market still exists, even if some states have improved their efforts to suppress it. Additionally, due to the nature of interstate commerce, the crime has spread to areas where cannabis use is still illegal.

According to the Oklahoma Bureau of Narcotics, since the state legalized commercial cultivation of medical cannabis in 2018, the state has grown to become the largest supplier of marijuana for the illicit market in the nation.

When the government becomes avaricious and begins to levy exorbitant taxes, it encourages an illegal market where there may be lax sanitation, quality control and safety standards. Once illicit merchants learn how to conserve money and make some savings, they become greedy as well, aiming to increase profits.

Greedy politicians constantly advocate for high taxes, which also encourage criminal activity or systemic fraud. Greed therefore breeds more greed, especially when it comes to cannabis.

Fortunately, the greed exhibited by both state and local governments as well as illicit cannabis industry actors does not affect the cannabis medicalization segment in which pharmaceutical companies such as IGC Pharma Inc. (NYSE American: IGC) operate because this particular space is regulated by the FDA, and the need for tax dollars doesn’t influence how the FDA does its work.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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420 with CNW — Missouri’s Adult-Use Market Thriving Three Months After Launch

Missouri launched recreational cannabis sales earlier in February, following approval of Amendment 3 in November 2022. This, according to a report by Brightfield Group, is the second fastest turnaround in the United States, only two weeks behind the record set by Arizona.

Thus far, Missouri has raked in $350 million in sales for both medical and recreational cannabis, according to data released by the Missouri Department of Health and Senior Services. Last month, the state brought in $91 million in recreational cannabis sales. This is on par with the $93.5 million in revenue generated in March and an increase from the $71.7 million sales from February. Medical marijuana sales make up the remainder that brings total sales to $350 million.

The state’s adult-use market is growing at a rapid rate, especially in comparison to other states.

For instance, Illinois took seven months to bring in $300 million in sales after launching recreational sales in January 2020. Two years after the market’s inception, the state ended last year with $1.6 billion in sales.

Missouri is expected to end this year at more than $1 billion, which aligns with marijuana business owners’ expectations that the numbers will go even higher.

Tyler Hannegan, chief of operations and sales for Robust Cannabis, stated that it may take up to a year to see what sales were capable of. However, if the market is to meet the increasing demand, more will need to be done, and faster.

This growth has seen companies such as Hippos Cannabis and Robust Cannabis expand their facilities and hire new employees in an attempt to meet demand, increase production and keep dispensary shelves stocked.

Currently, marijuana businesses also need approval from the state’s Department of Health and Senior Services before they can makes any changes to their facilities. This process will need to be streamlined in an effort to speed up the approval process and allow more players to take part in the industry.

Since the recreational market launched, the department has received more than 80 requests, in addition to the 40 requests that were already pending. Of the total number of submitted requests, the department has approved 23 so far. Spokeswoman Lisa Cox revealed that 29 more are in the final review stage and should be approved over the next few weeks. Cox added that the department was also hiring new employees to handle the increase in workload, noting that the Division of Cannabis Regulation would be fully staffed by the year’s end.

The booming sales of recreational and medical marijuana in Missouri and other states that legalized the substance suggest that entities such as IGC Pharma Inc. (NYSE American: IGC), which are working to develop medicinal formulations from marijuana, could register success since preliminary studies as well as anecdotal reports point to this plant having therapeutic potential.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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420 with CNW — How New York Cannabis Companies Are Getting Creative to Lure Customers

The new legal market for marijuana in New York is growing, and with this comes an increase in demand. To help keep up, businesses in the state are finding new ways to turn marijuana into a range of products, including edibles such as chocolates and gummies.

Smokiez’ National training manager Maddi Burch stated that edibles had become more popular as they appeal to those who didn’t smoke. The demand for gummies at dispensaries in the state is particularly high, which has led many businesses to boost production.

For marijuana to be turned to edibles, it must undergo an extraction process. One extraction facility, urbanXtracts, starts by putting the plant through various machines and filters the extract THC from the plant. THC is one of the two primary compounds found in marijuana, the other being CBD. Unlike CBD, however, THC induces a high when ingested.

End products of this process include concentrates such as the distillate, which winds up in vape cartridges and rosin, which can be smoked. Jonathan DeMart, urbanXtracks’ VP of operations, revealed that the distillate process removes any smells or flavors that could influence how a consumer interacted with edibles.

Before THC is added to an edible mixture, other ingredients such as pectin and sugar are mixed together then heated for about 30 minutes, and then the distillate is added. The introduction of THC makes the mixture psychoactive. Coloring and flavoring is then added before the mixture is poured into molds that hold it until it cools. Once the edibles have cooled, they are then coated in sugar, which can be sour or sweet, after which they are packed, weighed and sealed in the assembly line.

Burch points out that edibles induce a high that lasts a bit longer than the normal high one can obtain from smoking.

Other businesses such as Soft Power Sweets prefer that the process for making edibles be performed by people. The company was one of the first to introduce marijuana chocolates in the state. Its operations are handled by a trio of employees, including a chocolatier and a chocolate machine that helps infuse caramel in the chocolates with THC. Chocolatier Shana Napoli, revealed that the company focused on making delicious flavors.

Soft Power Sweets usually begins with mixing the THC with hot caramel, after which the caramel is poured into molds to set and left to cool overnight. Once this is complete, the caramels are then dipped in chocolate and garnished with a mixture of green cocoa butter and white chocolate then wrapped and packaged — all by hand.

As the innovations of marijuana companies pay off, there will be a trickle-down effect that could see ancillary businesses such as Advanced Container Technologies Inc. (OTC: ACTX) making more sales as marijuana growers move to ramp up their operations to meet the accelerating consumer demand.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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420 with CNW — Illicit Marijuana Worsens Water Crisis in California

The illegal cannabis trade in California is so tenaciously entrenched that it not only undercuts the legal market but is also responsible for some of the most flagrant water theft in the whole world. The estimated $8 billion illegal marijuana sector uses astonishing amounts of the scarce resource, despite the state legalizing recreational marijuana in 2016.

It has been reported that some individuals haul in stolen water, while others steal it from fire hydrants or dig unauthorized wells. The issue has been made worse by years of intermittent drought in the state. John Nores, the former head of the California Department of Fish and Wildlife Marijuana Enforcement Team, described the quantity of water stolen by the illegal marijuana sector as “mind-blowing.”

Nores estimates that it takes a typical marijuana plant 90 to 275 days to mature, and the plant needs up to five gallons of water every day. That’s a lot of water when you consider that some illegal businesses are growing 2,000 to 5,000 plants on average.

Criminals profit from stealing water all across the world, not only in California. A similar course of action also destroyed lagoons in national parks in Spain and put Chilean farmers in danger of going bankrupt. In Brazil, illegal water theft even resulted in the capture of a former mayor.

Nores claimed to have witnessed illegal well drilling and other blatant water theft in northern California’s Siskiyou County, where illegal marijuana cultivation has long been prevalent and drought conditions are among the worst in the state.

As a result, it’s becoming even more difficult for cattle ranchers and hay growers, many of whom have been forced to liquidate their assets or close their doors entirely, said Ryan Walker, a rancher and the head of the Siskiyou County Farm Bureau. Nevada County, which is situated north of Lake Tahoe, is also facing the same issue.

Adnan Anabtawi, general manager of the Mojave Water Agency, recalled that in 2021 at the height of the cannabis water theft issue, authorities predicted an annual loss of up to 4,000 acre-feet of water due to reports of supplies being trucked in or groundwater being forcibly withdrawn from the basin. To put that in context, an acre-foot is approximately 326,000 gallons, which is enough water to immerse an entire football pitch at least a foot into the ground.

According to those who are monitoring the activities, Californian communities have made strides in combating water theft, and the situation has lately improved. However, it’s a challenge that the state will likely continue to face, and it might put the marijuana sector at odds with other industries and crops vying for the state’s meager water supplies.

As the water crisis worsens, licensed growers may need to explore a variety of cultivation techniques, such as indoor microgardens commercialized by companies such as Advanced Container Technologies Inc. (OTC: ACTX), to maximize the value that they obtain from the limited water resources currently available.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

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CannabisNewsBreaks – AmeriCann Inc. (ACAN) Reports Best-Ever Revenue, Net Income

AmeriCann (OTCQB: ACAN), a cannabis company that develops state-of-the-art cultivation, product manufacturing and distribution facilities, is reporting on its financial and operational results for the quarter ending March 2023; the report showed the company’s best-ever annual revenue and net income for its latest four quarters. According to the report, AmeriCann has reported five consecutive quarters of positive net income, with net income increasing 257% and revenue increasing an estimated 12% for the quarter ended March 2023 compared to the quarter ended March 2022. In the report, the company attributed the increased revenue to products produced and manufactured at the company’s initial building at its Massachusetts Cannabis Center (“MCC”) development in Freetown, Massachusetts. The company noted that it is in the final design phase of expanding its MCC development, an initiative that has included securing provisional cultivation and manufacturing licenses. The next stage of expansion include adding up to 60,000 square feet of extraction, manufacturing and distribution infrastructure and approximately 160,000 square feet of additional cannabis cultivation infrastructure. “AmeriCann’s financial discipline and strong business model have produced record profitability and cash flow,” said AmeriCann CEO Tim Keogh in the press release. “We achieved the best consecutive four quarters of revenue and net income in our history.”

To view the full press release, visit https://cnw.fm/GdPgj

About AmeriCann Inc.

AmeriCann is a cannabis company that develops cultivation, processing and product manufacturing facilities. AmeriCann uses greenhouse technology, which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25% fewer lights, and utility bills are reduced by as much as 75% compared to typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. AmeriCann is also designing GMP-certified cannabis extraction and product manufacturing infrastructure. The company has secured provisional licenses to produce cannabis-infused products, including beverages, edibles, topicals and concentrates. AmeriCann plans to operate a marijuana product manufacturing business at the Massachusetts Cannabis Center. For more information about the company, please visit www.Americann.co.

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Lift Toronto 2023 Cannabis Conference & Expo Promises to Energize, Inspire, Educate, and Motivate Audiences from Across the Cannabis Ecosystem

In October 2018, Canada became the first developed country to legalize recreational cannabis for adult use (https://cnw.fm/CnFvC). Aimed at curbing the illicit trade of the drug and launching a new source of economic growth, this move is playing a significant role in the economy. For instance, Deloitte’s study, which considered the direct, indirect, and induced economic activities, estimated that the industry had contributed US$43.5 billion to Canada’s economy between legalization and 2021 (https://cnw.fm/2CPiB).

And as the country counts down to the fifth anniversary this October, the figure is expected to be higher, making the upcoming Lift Toronto 2023 Cannabis Conference & Expo the perfect setting to take stock of the progress so far, as well as find ways to draw even more value while pushing the industry forward. The event will be held at the expansive Metro Toronto Convention Centre from June 1-3, 2023 (https://cnw.fm/O2sD5).

The organizer, Lift Events & Experiences, has curated Lift Toronto 2023 to lift the cannabis industry and community from day one. The event will kick off with the Lift Cannabis Business Conference (“LCBC”), a strategy-focused, advocacy-oriented business and community leadership forum. The LCBC will focus on conversations that drive the industry’s momentum forward, as well as help players overcome systemic challenges and advance innovative business and regulatory solutions that will generate meaningful change and sustainable growth in Canada’s cannabis industry.

The conversations will be spearheaded by an outstanding roster of speakers who will share insights during planned keynote presentations and panel discussions, with each session “carefully curated to energize, inspire, educate, and motivate all our audiences from across the entire cannabis community,” according to Barry Smith, Canadian Content Director at Lift Events & Experiences (https://cnw.fm/35eSY).

The keynote presentation delivered by David Lobo, President & CEO, Ontario Cannabis Store, will look at the entirety of Canada’s cannabis industry, providing a review and updates on its priorities and progress. Next, the CEOs Perspective, will feature Niel Marotta, CEO & Founder, INDIVA; David Schwede, CEO, Heritage Cannabis; Marcie Kiziak, CEO, Nova Cannabis; and John Fowler, CEO, Muskoka Grown & Dank Craft, sharing insights based on their perspectives as leaders in the space. Specifically, they will discuss consumers’ wants, competitive strategy, growing moratoriums and market restraints, and building cannabis brands.

And what about the international markets? The conference agenda will unpack that topic with a dedicated international review session. Other themes and topics on the agenda include business funding; extracts, concentrates, and processing; cannabis marketing; and cannabis retailing (https://cnw.fm/CSmZZ).

The second and third day, June 2 & 3, are expo days geared toward enabling hundreds of exhibiting companies, drawn from across the entire cannabis ecosystem, to interact with consumers as well as growers, licensed producers, retailers, budtenders, brands, and investors. Plus, the expo days will provide excellent networking opportunities, with designated networking areas, both indoors and outdoors. Attendees can also expect Lift’s signature surprises and uplifting moments, live music, and cameo appearances, culminating in an official after party on the evening of Saturday, June 3.

For more information and to purchase your ticket, visit https://cnw.fm/O2sD5.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) Kicks Off FDA IND Filing Process with Granted CRO Contract to California-Based InClin, Inc.

Lexaria just awarded InClin, Inc. the contract for CRO services, in a move that lines up with the company’s upcoming FDA-registered, U.S. Phase 1b IND hypertension study, HYPER-H23-1
InClin will manage the study in the form of clinical site evaluation and selection, project management, personnel, site training, and more
Patient dosing is set to kick off as soon as possible once the expected FDA IND filing and review is completed, which Lexaria hopes will be done this summer
HYPER-H23-1 will be Lexaria’s most ambitious study yet, and upon its completion, it will move the company closer to FDA approval of its patented DehydraTECH(TM)-processed CBD

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, just announced the awarding of the contract for clinical research organization (“CRO”) services to California-based InClin, Inc. This move is in line with the company’s upcoming Food and Drug Administration (“FDA”)-registered, U.S. Phase 1b Investigational New Drug (“IND”) hypertension study, HYPER-H23-1 that will explore the potential of its patented DehydraTECH(TM)-processed cannabidiol (“DehydraTECH-CBD”) for the treatment of hypertension (https://cnw.fm/8WGqS).

The study will build on five previous Lexaria studies dating back to 2018, which were each successful, evidencing significant reductions in resting blood pressure over acute and multi-week dosing regimens on 134 healthy and hypertensive persons. The studies also showed that DehydraTECH-CBD produced zero serious adverse events, highlighting its potential to have pronounced clinical benefits relative to available anti-hypertensive therapeutics. The uniqueness of this product is further evidenced by its superior ability to reduce blood pressure over other oral CBD formulations currently in the market.

InClin will help with the study in the form of clinical site evaluation and selection, project management, personnel, site training, clinical database design and management, and quality assurance support. It will also be responsible for medical writing, study documentation creation, biostatistics and programming, support vendor coordination, Independent Review Board (“IRB”) submissions, and more. Study start-up is about to begin, with patient dosing set to kick off as soon as the expected FDA IND filing and review is completed, which Lexaria hopes will be done this summer. Upon the filing, Lexaria hopes for FDA authorization within about 60 days, after which the Phase 1(b) trial aggressively targeting the commencement of patient dosing will kick off.

HYPER-H23-1, titled “A Phase 1b Randomized, Double-Blind, Placebo-Controlled Study of the Safety, Pharmacokinetics, and Pharmacodynamics of DehydraTECH-CBD in Subjects with Stage 1 or Stage 2 Hypertension,” will be Lexaria’s most ambitious study yet. Its primary objective will be to evaluate safety and tolerability in up to 120 hypertensive patients, with secondary objectives including efficacy evaluation in reducing blood pressure together with detailed pharmacokinetic testing. Its successful completion will inch Lexaria closer to FDA approval of its DehydraTECH-CBD. But, more importantly, it will stamp Lexaria’s position as a leader in its space, having come up with a product that achieves a sustained decrease in resting blood pressure following multiple weeks of oral CBD dosing.

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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Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

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