- 150+ Americans die every day from synthetic opioid (e.g. fentanyl) overdose
- Nutriband’s AVERSA(TM) Fentanyl technology is being developed as an innovative solution to abuse and misuse rates in prescription opioid patch medications
- Nutriband raised $8.4 million in a private placement to fund AVERSA Fentanyl through FDA Approval Process
Fentanyl addiction continues to devastate communities, with current treatment options facing limitations. However, as often happens in healthcare, innovation breeds hope with a new option on the horizon planning to seek FDA marketing approval.
The challenges related to the powerful painkiller (up to 50x stronger than heroin and 100x stronger than morphine) are well documented. According to the Centers for Disease Control and Prevention, more than 150 Americans die every day from overdoses related to synthetic opioids like fentanyl.
Nutriband (NASDAQ: NTRB) is looking to provide a much-needed new option for managing severe and chronic pain that requires the use of an opioid (https://ibn.fm/7AYt6). The Orlando-based company stated last month that it raised gross proceeds of $8.4 million towards the remaining clinical development of AVERSA(TM) Fentanyl and submission of its New Drug Application (“NDA”) with the U.S. Food and Drug Administration.
If approved, transdermal delivered AVERSA(TM) Fentanyl would become the world’s first opioid patch with abuse deterrent properties.
In its 2022 market analysis report of AVERSA(TM) Fentanyl, Health Advances, a leading healthcare consulting company, estimated peak U.S. sales of the new product between $80 million to $200 million.
The private placement was completed through the sale of 2.1 million shares of NTRB common stock at $4.00 per share, with each share purchased also entitling the purchaser to a warrant to purchase two more shares at a price of $6.43 per share, a sharp premium from the current price.
Products addressing chronic pain are the most advanced in Nutriband’s pipeline where its AVERSA(TM) platform technology is applicable. The company has added buprenorphine and methylphenidate to its development pipeline. Buprenorphine is also a medication used to treat opioid addiction, including addiction to heroin and other prescription painkillers. While very helpful because of its “ceiling effect,” meaning analgesia, euphoria, and respiratory depression plateau at high doses, buprenorphine still has the potential for abuse.
As it happens, the AVERSA(TM) abuse deterrent technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.
Other areas of focus for Nutriband’s transdermal expertise include attention deficit hyperactivity disorder (“ADHD”), Type 2 diabetes, and infertility. While those developments take shape, all eyes will be on the NDA filing with the FDA and what that can mean for new therapeutics to help combat the opioid dilemma.
For more information, visit the company’s website at 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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