KELOWNA, BC / ACCESS Newswire / August 13, 2026 / Lexaria Bioscience Corp. (NASDAQ:LEXX) (the "Company" or "Lexaria"), a global innovator in drug delivery platforms, announces that it has entered into a Material Transfer Agreement ("MTA") with Pegbio Co., Ltd ("PegBio") to investigate Lexaria's DehydraTECH technology with a proprietary PegBio molecule under development for the GLP-1 industry. Today's announcement is separate from, and has no relationship with, Lexaria's pre-existing Material Transfer Agreement with another pharmaceutical company.

The MTA details the conditions under which PegBio will supply Lexaria with a proprietary GLP-1 molecule which will then be processed with Lexaria's patented DehydraTECH technology and evaluated for pharmacokinetic performance in animal studies.

"We welcome PegBio to our expanding group of potential future commercial partners for DehydraTECH-powered GLP-1 drugs," said Richard Christoper, CEO of Lexaria Bioscience Corp. "PegBio has built an impressive group of GLP-1-related drug products and candidates focused on type-2 diabetes, weight loss, and MASH*. Lexaria is excited that our proprietary technology may assist in making their drugs as accessible and effective as possible."

PegBio's leading product is a GLP-1 molecule that was approved for use in China, administered via injection, in November, 2025. In addition, they have several other molecules that have advanced from preclinical stage up to Phase II, both in China and in the USA.

Lexaria was introduced to PegBio through Liberi Group, a global life sciences business development consultancy working with Lexaria on its DehydraTECH partnering strategy.

Lexaria will provide an update upon the completion of the contemplated study(ies) including whether any business decisions have been made at that time, regarding technology licensing or other business.

*metabolic dysfunction-associated steatohepatitis

About PegBio

PegBio is a biotechnology company focused on the discovery, development and commercialization of innovative therapies for metabolic and related chronic diseases. Its first internally developed innovative drug, the long-acting GLP-1 receptor agonist PB-119 (Visepegenatide Injection), was approved in China in November 2025 and has entered commercialization.

Building on its commercial-stage product, PegBio is advancing a pipeline of differentiated next-generation therapies for diabetes, obesity and other metabolic diseases, while developing a next-generation intelligent R&D and data platform integrating artificial intelligence, computational science and biotechnology. PegBio is listed on The Stock Exchange of Hong Kong Limited (HKG:2565).

For more information, please visit pegbio.com.

About Lexaria Bioscience Corp. & DehydraTECH™

DehydraTECH™ is Lexaria's patented drug delivery formulation and processing platform technology which improves the way a wide variety of drugs enter the bloodstream, always through oral delivery. DehydraTECH^TM has repeatedly evidenced the ability to increase bio-absorption, reduce side-effects, and 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 66 patents granted and additional patents pending worldwide. For more information, please visit www.lexariabioscience.com.

About Liberi Group

Liberi Group is a global business development and strategic consultancy focused on the life sciences and biotech industries. The firm partners with innovative biotech and pharmaceutical companies to identify, structure, and advance strategic partnerships, licensing agreements, and investor relationships across global markets. Liberi Group combines deep scientific understanding with an extensive network of industry relationships to connect promising technologies with the right partners at the right time. This collaboration between Lexaria and PegBio reflects Liberi Group's ongoing work supporting Lexaria's DehydraTECH partnering strategy. For more information, please visit Global Life Science Consulting.

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 to 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

SOURCE: Lexaria Bioscience Corp.

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