Nutriband Receives Notice of Allowance from the Canadian Intellectual Property Office for its AVERSA Abuse Deterrent Transdermal Technology Patent

Nutriband Receives Notice of Allowance from

the Canadian Intellectual Property Office for its AVERSA Abuse Deterrent Transdermal Technology Patent

ORLANDO, Fla., August 1, 2022 -

Nutriband Inc. (NASDAQ:NTRB) (NASDAQ:NTRBW) today announced that it has received a Notice of Allowance from the Canadian Intellectual

Property Office (CIPO) for its patent application, CA 2937649, entitled "Abuse and Misuse Deterrent Transdermal Systems,"

that protects its AVERSA transdermal abuse deterrent technology. The issuance of this Canadian patent in combination

with patents already issued in the United States and Mexico provides intellectual property protection for Nutriband's Aversa

products across North America.

Nutriband's AVERSA abuse deterrent technology can be utilized

to incorporate aversive agents into transdermal patches to prevent the abuse, diversion, misuse and accidental exposure of drugs with

abuse potential such as opioids used to treat moderate to severe chronic pain, while making sure that these drugs remain accessible to

those patients who really need them. The technology is covered by a broad intellectual property portfolio with patents already granted

in the United States, Europe, Japan, Korea, Russia, Mexico, and Australia.

Nutriband's lead product under development is AVERSA Fentanyl,

which has the potential to be the world's first fentanyl transdermal system with abuse deterrent properties. AVERSA Fentanyl

is being developed as a combination of Nutriband's proprietary AVERSA technology and an FDA-approved transdermal fentanyl

patch. AVERSA Fentanyl was recently estimated to have the potential to reach peak annual US sales of $80M - $200M.1

In addition, the company has a product development pipeline that includes AVERSA buprenorphine and AVERSA methylphenidate which have the

potential to be the first abuse deterrent versions of those transdermal drugs.

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 technology. Aversa is an abuse deterrent transdermal technology that incorporates aversive agents to prevent

the abuse, diversion, misuse and accidental exposure of drugs with abuse potential, specifically opioids.

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

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, 2022 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)