Full Press Release Details
Nutriband Inc. expands product development
pipeline for its AVERSA platform abuse deterrent technology
ORLANDO, Fla., January 18, 2022
- Nutriband Inc. (NASDAQ:NTRB) (NASDAQ:NTRBW) announced an expanded product development pipeline for its proprietary AVERSA
abuse deterrent transdermal technology. The AVERSA abuse deterrent technology platform can be applied to any transdermal patch that has
a risk of abuse, misuse or accidental exposure. It is based on incorporating aversive agents into the patch that do not contact the drug
matrix and are not delivered to the skin.
Nutriband's lead product
is AVERSA Fentanyl which incorporates abuse deterrent properties into a transdermal fentanyl patch and was recently determined to have
a potential market of $80 - $200 million1. Based on a preliminary market assessment, Nutriband has identified other valuable
markets for transdermal products with a risk of abuse, misuse, diversion or accidental exposure that could benefit from its AVERSA technology.
Currently marketed transdermal products that have labeled warnings for the risk of abuse include buprenorphine and methylphenidate and
both products have reports of abuse or misuse. These two products, AVERSA buprenorphine and AVERSA methylphenidate, will be added to the
product development pipeline with AVERSA Fentanyl.
AVERSA buprenorphine has the
potential to be an abuse deterrent version of transdermal buprenorphine, a partial opioid agonist, marketed as Butrans
or its generics, which is indicated for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment
and for which alternative treatment options are inadequate.
AVERSA methylphenidate has the
potential to be an abuse deterrent version of transdermal methylphenidate, a central nervous system (CNS) stimulant, marketed as Daytrana ,
indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD).
"We are excited about the
opportunity to expand our AVERSA product pipeline, as we believe it has the potential to improve the profile of transdermal products that
include labeled warnings for abuse, misuse, diversion or accidental exposure," said Jeff Patrick, Pharm.D., Chief Scientific Officer.
"AVERSA is a platform technology
that can be deployed in almost any transdermal product that carries a risk of abuse or misuse. It is our mission to reduce the risk profile
of these drugs while ensuring availability for patients that need them," said Gareth Sheridan, CEO.
The recent announcement of a feasibility agreement with Kindeva Drug
Delivery, a world leader in transdermal manufacturing, sets the development of Nutriband's lead product, AVERSA Fentanyl, in motion.
Nutriband's strategy with the AVERSA platform is to focus on advancing the technology first for transdermal fentanyl and then utilizing
the technology to reduce the risk of abuse for transdermal buprenorphine and methylphenidate.
About Nutriband Inc.
We are primarily engaged in the
development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse deterrent fentanyl patch
incorporating our AVERSA abuse deterrence technology. AVERSA technology can be incorporated into any transdermal
patch to deter the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.
The Company's website is www.nutriband.com.
Any material contained in or derived from the Company's websites or any other website is not part of this press release.
Forward-Looking Statements
Certain statements contained in this press release, including, without
limitation, statements containing the words believes,'' "anticipates," "expects" and
words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. The Company's actual results
may differ materially from those anticipated in its forward-looking statements as a result of a number of factors, including those including
the Company's ability to develop its proposed abuse deterrent fentanyl transdermal system and other proposed products, its ability
to obtain patent protection for its abuse technology, its ability to obtain the necessary financing to develop products and conduct the
necessary clinical testing, its ability to obtain Federal Food and Drug Administration approval to market any product it may develop in
the United States and to obtain any other regulatory approval necessary to market any product in other countries, including countries
in Europe, its ability to market any product it may develop, its ability to create, sustain, manage or forecast its growth; its ability
to attract and retain key personnel; changes in the Company's business strategy or development plans; competition; business disruptions;
adverse publicity and international, national and local general economic and market conditions and risks generally associated with an
undercapitalized developing company, as well as the risks contained under "Risk Factors" and "Management's Discussion
and Analysis of Financial Condition and Results of Operations" in the Company's Form S-1, Form 10-K for the year ended January
31, 2020 and Forms 10-Q, and the Company's other filings with the Securities and Exchange Commission. Except as required by applicable
law, we undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise
after the date hereof.
For more information, contact:
1-800-RED-CHIP (733-2447)