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Kelowna, British Columbia, May 20, 2021 Lexaria Bioscience Corp. (Nasdaq: LEXX) (Nasdaq: LEXXW) (CSE: LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to announce successful test results of two new “DehydraTECH ™ 2.0” cannabidiols (“CBD”) – formulations known in their second applied research and development study program in 2021, HYPER-A21-2.

“One of our latest DehydraTECH 2.0 formulations delivered the strongest absorption improvement results we have ever seen, with 2,708% more CBD in the bloodstream during the study period than the representative industry standard MCT control formulation. It was also 174% more effective than the original DehydraTECH 2.0 formulation released in 2019, ”said Chris Bunka, Lexaria CEO. “This is a 27x improvement in CBD delivery compared to the control formulation.”

The HYPER-A21-2 study included three additional new DehydraTECH 2.0 formulation variants designed to improve CBD delivery performance and pharmacokinetic optimization. Two of the three new DehydraTECH 2.0 formulations showed improved performance compared to Lexaria’s original DehydraTECH 1.0 and 2019 DehydraTECH 2.0 concentration formulations and a medium chain triglyceride (“MCT”) oil control formulation that is representative of industry practice. The final formulation provided useful data but did not provide improved performance over the original DehydraTECH 2.0. Summary data is shown below:

formulation

AUClast (1) (h kg ng / ml / mg)

% Improvement over MCT formulation

(p-value)

% Improvement over Original DehydraTECH 1.0

(p-value)

% Improvement over Original DehydraTECH 2.0

(p-value)

MCT control (2)

13.17 ± 6.78

– –

– –

– –

original (2) DehydraTECH 1.0

64.6 ± 23.7

390%

(p = 0.00002)

– –

– –

original (3) DehydraTECH 2.0

134.7 ± 63.7

923%

(p = 0.00009)

108%

(p = 0.0036)

– –

**NEW** DehydraTECH 2.0 formulation 5 (4)

187 ± 95

1,322%

(p = 0.0001)

190%

(p = 0.001)

39%

(p = 0.08)

**NEW** DehydraTECH 2.0 formulation 6 (4)

370 ± 172

2,708%

(p = 0.00005)

472%

(p = 0.0001)

174%

(p = 0.0008)

  1. (1) AUC: area under the curve or complete release of CBD into rodent bloodstream

  2. (2) 60 minutes of study

  3. (3) 60-minute study duration evaluated in 2019

  4. (4) 120-minute study duration evaluated in 2021

Lexaria continues to build solid evidence that its patented DehydraTECH technology can significantly improve the delivery of lipophilic active ingredients such as CBD across a range of intake levels and ultimately can be used in wide-ranging areas, including packaged consumer products as well as pharmaceuticals with potential for Applications for the treatment of diseases.

Ten male Sprague-Dawley rats were dosed orally at 25 mg / kg CBD in each arm of the study and several measurements were taken over the next 120 minutes to assess the release into the bloodstream and tissue, with the DehydraTECH formulations were compared with certain controls. There were a total of 120 animals for the new DehydraTECH 2.0 formulations evaluated in the HYPER-A21-1 and HYPER-A21-2 studies. Both studies, HYPER-A21-1 and HYPER-A21-2, were conducted by a leading independent animal testing laboratory in the United States.

Lexaria also confirms that the HYPER-H21-1 human hypertension clinical trial is ongoing and the dosing is nearing completion. A formulation is used that is most similar to the original DehydraTECH 2.0 from 2019. Coupled with a more than three-fold increase in dose amount, these formulation enhancements are expected to be more effective than the original DehydraTECH 1.0 formulation used in Lexaria’s 2018 baseline human clinical trial and yet demonstrate a significant reduction in blood pressure, as published by PubMed and is available. Lexaria therefore expects that improved pharmacokinetic performance in its current human clinical trial will result in further improvements in pharmacodynamic performance. Lexaria will provide details of the HYPER-H21-1 study results as they become available.

* * Compared to the control formula using medium chain triglycerides (coconut oil) Representative of customary industry practice

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.’s proprietary drug delivery technology, DehydraTECH ™, improves the way Active Pharmaceutical Ingredients (APIs) enter the bloodstream by promoting healthier oral intake methods and increasing the effectiveness of fat-soluble active molecules, thereby reducing the overall dosage. The company’s technology can be applied to a wide variety of ingestible product formats, including food, beverages, oral suspensions, tablets, and capsules. Since 2016, DehydraTECH has repeatedly demonstrated the ability with cannabinoids and nicotine to increase bioabsorption by 5 to 10 times, reduce the start time from 1 to 2 hours to minutes and mask unwanted tastes. and further studies are planned for orally administered bioactive molecules, including antivirals, cannabinoids, vitamins, nonsteroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to several companies, including a world-leading tobacco producer, for the development of smokeless, oral-based nicotine products and for use in industries that manufacture cannabinoid beverages, food and oral products. Lexaria operates a licensed in-house research laboratory and has a robust intellectual property portfolio with 19 issued patents and approximately 60 patents pending worldwide. More information is available at www.lexariabioscience.com.

CAUTION REGARDING FUTURE STATEMENTS

This press release contains forward-looking statements. Statements as such terms are defined in applicable securities laws. These statements may be identified by words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should”, “should” become. Will ”and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating to the company’s ability to conduct research initiatives, obtain regulatory approvals or grants, or experience the positive effects or results of research or studies. Such forward-looking statements are estimates that represent the company’s best judgment based on current information and involve a number of risks and uncertainties. There can be no assurance that the company will actually accomplish the plans, intentions or expectations disclosed in these forward-looking plans, intentions or expectations. Therefore, you should not place undue reliance on these forward-looking statements. Factors that could cause actual results to differ materially from those anticipated by the company include, but are not limited to, government regulations and approvals, the management and maintenance of growth, the effects of adverse publicity, litigation, competition, scientific discoveries, and the like the patent application and approval process, possible adverse effects resulting from the testing or use of products using DehydraTECH technology, the company’s ability to maintain existing collaborations and realize their benefits, delays or cancellations of planned R&D that may occur in connection with pandemics or for other reasons; and other factors that may be mentioned from time to time in the company’s public notices and periodic filings with EDGAR. There is no guarantee that Lexaria’s postulated uses, benefits, or advantages for the patented and patent-pending technology will actually be realized in any way or in any part. None of the statements contained herein have been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure, or prevent any disease. All forward-looking statements contained in this press release speak only as of the date of this publication and the company expressly disclaims any obligation to update the forward-looking statements contained herein as a result of new information, future events, changed circumstances or otherwise, unless otherwise required by law .

The CSE has not reviewed this version and assumes no responsibility for the adequacy or accuracy of this version.

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[email protected]

Phone: 866-221-3341

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