ORLANDO, FL / ACCESSWIRE / October 11, 2023 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a company engaged in the development of transdermal pharmaceutical products, today announced it has completed the market assessment and commercialization strategy for AVERSA™ Buprenorphine, an abuse deterrent buprenorphine transdermal system.
The company engaged leading healthcare consulting company Health Advances to assess the market opportunity and commercial strategy for Aversa™ Buprenorphine, which has the potential to be the world's first buprenorphine transdermal system with abuse deterrent properties. Once approved by the United States FDA, Aversa Buprenorphine will be priced competitively with non-abuse deterrent options and may reach peak annual US sales of $70-130 million.1 The company is also considering developing the product for strategic international markets as protected by its global abuse deterrent patent portfolio.
‘Health Advances was able to confirm the significant unmet patient need for Aversa™ Buprenorphine based on rigorous primary and secondary market research accompanied with deep experience in the abuse deterrence pain space. We are excited to initiate the development of the second product in our Aversa™ technology platform portfolio to address additional markets that utilize transdermal patches with a labelled risk of abuse.' said Gareth Sheridan, CEO, Nutriband. ‘Improving the safety profile of easily abused transdermal opioid drugs, while making sure that these drugs remain accessible to those patients who really need them is the driving force for our company.'
Nutriband recently announced expanded intellectual property protection in the United States for its portfolio of abuse deterrent transdermal products based on its proprietary Aversa™ abuse deterrent transdermal technology that uses taste aversion to address the primary routes of opioid patch abuse. This technology can be incorporated into transdermal patches to prevent the abuse, diversion, misuse, and accidental exposure of drugs with abuse potential. Nutriband's lead product under development is Aversa™ Fentanyl, an abuse deterrent fentanyl transdermal system, with the potential to become the first abuse deterrent pain patch on the market. Previously work by Health Advances determined that the market potential for Aversa™ Fentanyl was estimated to reach peak annual US sales of $80-200 million.2
1 Health Advances Aversa Buprenorphine market analysis report 2023
2 Health Advances Aversa Fentanyl market analysis report 2022
About AVERSA™ Technology
Nutriband's AVERSA™ abuse-deterrent transdermal 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. 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. The technology is covered by a broad intellectual property portfolio with patents granted in the United States, Europe, Japan, Korea, Russia, Canada, Mexico, and Australia.
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-deterrent 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, 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.
