ORLANDO, FL / ACCESSWIRE / December 1, 2022 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW) announced that the Canadian Intellectual Property Office (CIPO) has granted Canadian patent No. 2,937,649, entitled "Abuse and Misuse Deterrent Transdermal Systems," with an issue date of November 1, 2022. This patent protects Nutriband's AVERSA™ transdermal abuse deterrent technology being developed to prevent the abuse, diversion, misuse and accidental exposure of drugs with abuse potential that are delivered with a transdermal patch.
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. In addition, the Aversa™ abuse deterrent technology is covered by a broad intellectual property portfolio with patents already granted in the United States, Europe, Japan, Korea, Russia, and Australia.
The Public Health Agency of Canada has reported that over many years Canada has seen a significant rise in opioid and other substance-related deaths and harms, and this crisis continued to worsen over the course of 2021, in the midst of the COVID-19 pandemic.1 Furthermore Canadians are the second-highest per-capita consumers of opioids in the world, after only the United States.2
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. The AVERSA™ abuse deterrent technology has the potential to improve the safety profile of transdermal drugs susceptible to abuse, such as fentanyl, while making sure that these drugs remain accessible to those patients who really need them.
Nutriband's lead product under development is AVERSA™ Fentanyl, an abuse deterrent transdermal system based on its proprietary AVERSA™ abuse deterrent transdermal technology. AVERSA™ Fentanyl is being developed as a combination of Nutriband's proprietary AVERSA™ abuse deterrent transdermal technology and Kindeva's FDA-approved transdermal fentanyl patch (fentanyl transdermal system) and was recently estimated to have the potential to reach peak annual US sales of $80M - $200M.3
2 Belzak L, Halverson J. The opioid crisis in Canada: a national perspective. Health Promot Chronic Dis Prev Can. 2018;38:224-33.
3 Health Advances market analysis report 2022
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 prevent 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, 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:
Investor Relations
RedChip Companies
Dave Gentry
NTRB@redchip.com
1-800-RED-CHIP (733-2447)
407-491-4498
SOURCE: Nutriband Inc.
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