December 20, 2022

December 20, 2022 10:20:00

Jupiter Wellness Inc. (NASDAQ: JUPW) Issues Letter to Shareholders with Update on Key Corporate Milestones, Product Progress

  • Jupiter Wellness has announced that the “FDA of India” has approved its topical treatment for psoriasis and vitiligo, with a market launch to follow
  • The global vitiligo treatment market was valued at $1.2 billion in 2018 and is expected to grow at a CAGR of 5.8%, resulting in a value of approximately $2 billion by 2026
  • JW-500, a topical treatment for female sexual wellness, is currently in development with plans to file for pre-IND and Orphan Drug Designation within the next year

Jupiter Wellness (NASDAQ: JUPW), a diversified company that supports health and wellness by researching and developing over-the-counter (“OTC”) products and intellectual property, recently issued a Letter to Shareholders to provide key corporate updates since the company’s last report on September 15, 2022 (https://ibn.fm/0jcD8). In addition to updates to its clinical trial pipeline, entering the potentially lucrative market of Female Sexual Wellness, and obtaining or adding to its intellectual property portfolio, Jupiter Wellness announced that India’s equivalent of the FDA has approved its topical treatment for psoriasis and vitiligo, with a market launch within the country. The company also provided a quick summary of recent highlights and an overview of products with current dispositions.

Of the five products currently in development, Jupiter Wellness is developing JW-500, a topical treatment for female sexual wellness. The company has signed an exclusive license with Rejoy, Inc. to develop prescription products for the treatment of nipple neuropathies and associated sexual problems in women that have been treated for breast cancer. This exclusive license includes issued patents and technology, including all formulations. The company plans to file for a pre-IND meeting with the United States Food and Drug Administration (“FDA”) within the next 12 months and intends to seek Orphan Drug Designation (“ODD”).

The chemotherapy-induced peripheral neuropathy treatment market was valued at $1.6 billion in 2020 and is expected to register growth at a CAGR of 5.7%, resulting in a value of approximately $2.4 billion by 2027. The growing prevalence of cancer diagnosis and the increase in cases involving chemotherapy-induced peripheral neuropathy are expected to drive the market during the forecast period. The advancement of technology advances and the rising demand for cost-efficient therapeutics are also expected to play a significant role in the market’s growth over time (https://ibn.fm/3OYf9).

The company has three products currently on the market:

  • Minoxidil Booster(TM) – a topical treatment designed to improve Minoxidil efficacy
  • Photocil(TM) – a topical treatment for psoriasis and vitiligo
  • NoStingz(TM) – a topical protection from jellyfish, sea lice, and UVA/UVB rays

The Indian Central Drugs Standard Control Organisation (“CDSCO”), under the Directorate General of Health Services, Ministry of Health & Family Welfare, is the National Regulatory Authority (“NRA”) and it has approved Photocil(TM) (branded as PhotoFirst in India) for sale in India. Marketing meetings for the India product launch were discussed between Eris Oaknet Healthcare Pvt. Ltd. and Cosmofix Technovation Pvt. Ltd. Jupiter Wellness is leveraging the growing market, where approximately five in every thousand individuals suffer from vitiligo, a condition defined by loss of pigmentation in the skin (https://ibn.fm/Y6kk8).

The global vitiligo treatment market was valued at $1.2 billion in 2018 and is expected to grow at a CAGR of 5.8%, resulting in a value of approximately $2 billion by 2026. Growth in the market is expected to be facilitated by the increased demand for new and innovative treatment options for managing vitiligo (https://ibn.fm/zr2vu).

Jupiter Wellness is producing a product pipeline, backed by clinical research to ensure efficacy, which addresses a range of underserved conditions. The revenue generated and reported by the company in the Letter to Shareholders is achieved through a combination of over-the-counter and consumer product sales, contract research agreements, and licensing royalties.

For more information, visit the company’s website at www.JupiterWellness.com.

NOTE TO INVESTORS: The latest news and updates relating to JUPW are available in the company’s newsroom at https://ibn.fm/JUPW

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