Lexaria Receives New Patents

• Total of 6 new granted patents received by Lexaria so far in 2023
• Lexaria now holds 34 granted patents world-wide

KELOWNA, BC / ACCESSWIRE / June 20, 2023 / Lexaria Bioscience Corp. (NASDAQ:LEXX)(NASDAQ:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms announces that it has received notifications of four new granted patents.

Lexaria has been granted a new Canadian patent under our Patent Family #1: Food and Beverage Compositions Infused with Lipophilic Active Agents and Methods of Use Thereof. This is Lexaria's 18^th patent in this Patent Family and our first patent for this Patent Family issued in Canada.

Also in Canada, Lexaria has been granted a new patent under our Patent Family #8: Compositions Infused with Nicotine Compounds and Methods of Use Thereof which was previously announced as "allowed" on April 20, 2023. This is Lexaria's second patent in this Patent Family, following a similar patent issuance in Australia in 2022.

Lexaria has also been granted two new US patents under our Patent Family #21. The first being for Pharmaceutical Compositions and Methods for Treating Hypertension; and the second being for Compositions and Methods for Treating Hypertension, which was previously announced as "allowed" on April 20, 2023. Lexaria points out that one of these patent awards is specifically for pharmaceutical compositions while the other patent award is for non-pharmaceutical compositions, each of which reinforce Lexaria's commercial opportunities in the separate pharmaceutical and consumer markets.

Lexaria believes these two hypertension-related patents could be of particular importance related to the Company's pursuit of utilizing DehydraTECH-CBD in relation to our expected upcoming FDA Investigational New Drug application. The outcomes of our completed HYPER-H21 series of hypertension studies were instrumental in achieving these patent grants. These are Lexaria's first and second granted patents in this Patent Family #21.

The global cardiovascular drugs market was worth US$146.5 billion in 2022 and expected to reach $173.5 billion in 2026 and by geography, North America is the biggest market in the world making US patent protection a necessity in the pursuit of commercial markets.

About Lexaria Bioscience Corp.

Lexaria Bioscience Corp.'s patented drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream through oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 34 patents granted and many patents pending worldwide. For more information, please visit www.lexariabioscience.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company's ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company's ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics or for other reasons, and other factors which may be identified from time to time in the Company's public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. The Company provides links to third-party websites only as a courtesy to readers and disclaims any responsibility for the thoroughness, accuracy or timeliness of information at third-party websites. There is no assurance that any of Lexaria's postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements or links to third-party websites contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

INVESTOR CONTACT:

George Jurcic - Head of Investor Relations
ir@lexariabioscience.com
Phone: 250-765-6424, ext 202

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