Lexaria Appoints Nelson Cabatuan as Chief Financial Officer

KELOWNA, BC / ACCESSWIRE / March 14, 2024 / Lexaria Bioscience Corp. (Nasdaq:LEXX)(Nasdaq:LEXXW) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms announces the appointment of Nelson Cabatuan, CPA, as Chief Financial Officer (CFO) effective immediately. As a member of the executive leadership team, Mr. Cabatuan will lead the Company's financial operations.

"Nelson's deep financial leadership experience will be instrumental to the execution of Lexaria's long-term growth strategy as we continue to maximize the potential use of our DehydraTECH platform for GLP-1 and other therapeutic applications with high unmet medical needs," said Chris Bunka, Chief Executive Officer of Lexaria. "On behalf of the entire Lexaria team, I'm thrilled to welcome Nelson as our CFO."

Mr. Cabatuan has over 15 years of corporate finance and operations experience within the life sciences industry, most recently serving as SVP Finance and Operations at Rain Oncology, Inc., a late-stage precision oncology biotech company. At Rain, Mr. Cabatuan built and led the company's financial organization that experienced significant growth during his tenure. Previously, Mr. Cabatuan served in various roles at Rigel Pharmaceuticals, Inc., including as Vice President Finance. At Rigel, he was a key member of the executive team that developed and launched TAVALISSE for the treatment of chronic immune thrombocytopenia.

"Lexaria has a significant opportunity in continuing its pursuit as a global innovator in drug delivery platforms as proven by the strong potential of DehydraTECH in GLP-1 and hypertension," said Mr. Cabatuan. "I'm excited to join the team and look forward to contributing to the Company's progress in GLP-1 and other areas."

About Lexaria Bioscience Corp. & DehydraTECH

DehydraTECH is Lexaria's patented drug delivery formulation and processing platform technology which improves the way active pharmaceutical ingredients (APIs) enter the bloodstream through oral delivery. Since 2016, Lexaria has developed and investigated DehydraTECH with a variety of beneficial molecules in oral and topical formats. DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption and has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier, which Lexaria believes to be of particular importance for centrally active compounds. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 39 patents granted and many patents pending worldwide. For more information, please visit www.lexariabioscience.com.