Full Press Release Details
NUTRIBAND INC. SIGNS ACQUISITION AGREEMENT
OF CARMEL BIOSCIENCES AND FDA APPROVED PREXXARTAN
Orlando, Fla. - Sept 26, 2018 - Nutriband Inc.
(OTCQB: NTRB), is pleased to announce it has signed the definitive acquisition agreement to acquire Carmel Biosciences, Inc. The
acquisition is expected to be valued at approximately $2,700,000 and will be paid in company stock in the amount of 350,000 restricted
According to the agreement, Nutriband will acquire the NDA
and ownership rights to FDA approved Prexxartan , the ownership and rights to develop and market Carmel's pipeline
including CAR-509, CAR-510, CAR-511 and CAR-512 currently in Pre IND phase plus rights to Carmel's clinically tested nutraceutical
line. This includes MET-191, a nutritional supplement which has demonstrated benefit of lipid management, appetite control, and
weight management, while improving factors that contribute to the metabolic syndrome.
Carmel Biosciences is a pharmaceutical company that addresses
critical needs in new drug and liquid reformulation for cardiovascular and metabolic therapies. The Carmel Biosciences team combines
a deep understanding of lipid biochemistry and clinical expertise in the cardiovascular and metabolic space.
In December 2017 Carmel Biosciences received FDA approval on
its first drug PREXXARTAN, the first and Only approved oral liquid dosage form of the angiotensin receptor blocker (ARB) valsartan
in the United States.
Oral liquid dosage medications boast a number of benefits such
as being better for patients with discomfort swallowing pills, they can often boast faster absorption and flexibility of dosage.
PREXXARTAN (valsartan oral solution) is indicated for
treatment of hypertension in adults and children six years and older. PREXXARTAN is also indicated for use as therapy for
the treatment of heart failure (NYHA class II-IV). Additionally, PREXXARTAN has also been indicated for stable left ventricular
failure or left ventricular dysfunction after myocardial infarction.
valsartan (trade name Diovan) achieved annual sales of $2.052 billion in the United States and $6.053 billion worldwide. The patents
for valsartan and valsartan/hydrochlorothiazide expired in September 2012 (Philip Moeller (April 29, 2011). "Blockbuster
Drugs That Will Go Generic Soon". U.S.News & World Report.)
Hypertension rates are a growing problem in the US with a presence in 2-5% of school-age children.
About Nutriband Inc.
Nutriband is a results
driven, health and pharmaceutical company based in Orlando Florida. Nutriband's
focus in on the development of novel and unique pharmaceutical and health products to improve treatments for patients, improve
patient comfort and safety and more.
Currently all Nutriband
products are based around the science of transdermal /topical technologies.
www.nutriband.com - Corporate
www.4Ptherapeutics.com - Clinical Development and prescription
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. Our actual results
may differ materially from those anticipated in our forward-looking statements as a result of a number of factors, including our
ability to create, sustain, manage or forecast our growth; our ability to attract and retain key personnel; changes in our business
strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general
economic and market conditions. Except as required by applicable law, we undertake no obligation to revise or update any of our
forward-looking statements in order to reflect any event or circumstance that may arise after the date hereof.
For more information, contact:
407-644-4256, ext. 105