Nutriband (NASDAQ: NTRB, NTRBW), a company engaged in the development of prescription transdermal pharmaceutical products, today announced that it has closed an $8.4 million private placement to fund the commercial development program for its lead product, AVERSA(TM) Fentanyl. AVERSA Fentanyl has the potential to be the world’s first abuse-deterrent opioid patch designed to deter the abuse and misuse and reduce the risk of accidental exposure of transdermal fentanyl patches. Nutriband is working with its partner Kindeva Drug Delivery, a leading global contract development and manufacturing organization, to develop the commercial scale manufacturing process for the final product, which will incorporate Nutriband’s AVERSA(TM) abuse-deterrent transdermal technology into Kindeva’s FDA-approved transdermal fentanyl patch system. With this latest round of funding and based on progress made on the commercial transdermal manufacturing process scale-up to date, Nutriband is pushing towards several milestones as detailed in the announcement.
To view the full press release, visit https://ibn.fm/5EXgm
About Nutriband Inc.
Nutriband is primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Its lead product under development is an abuse deterrent fentanyl patch incorporating its AVERSA(TM) abuse-deterrent technology. AVERSA technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential. For more information about the company, visit www.Nutriband.com.
NOTE TO INVESTORS: The latest news and updates relating to NTRB are available in the company’s newsroom at https://ibn.fm/NTRB
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