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JanOne Inc. (Nasdaq: JAN) has announced its acquisition of Soin Therapeutics LLC, valued at $13 million, with an additional $17 million contingent on revenue from a new product named Jan123. This product, a low dose naltrexone formulation, aims to treat Complex Regional Pain Syndrome (CRPS), a chronic pain condition without effective treatments. JanOne plans to advance Jan123 into clinical trials in 2023. This acquisition adds a significant clinical asset to JanOne's portfolio, complementing its existing product, JAN101, for Peripheral Artery Disease.
JanOne Inc. (NASDAQ: JAN) announced an option agreement with LSU Health Shreveport for a novel strategy to combat methamphetamine use disorder (MUD) by activating the Translocator Protein 18 kDa (TSPO). This agreement allows JanOne to explore new drug compounds targeting TSPO, aiming to reduce cravings for meth. The company's drug discovery program is set to begin in 2022, with a preclinical candidate expected in 2023. JanOne also plans to initiate a Phase 2b trial for its pain treatment drug, JAN101, by late 2022.
JanOne has selected Avania as its regulatory partner for the upcoming Phase 2b trial of its lead product candidate JAN101, aimed at treating Peripheral Artery Disease (PAD). This collaboration will enhance compliance with FDA requirements, as Avania oversees regulatory operations. The company has also completed the initial batch production of JAN101, marking significant progress towards trial initiation. Following the filing of a pre-Phase 2 briefing package this summer, JanOne anticipates recruiting PAD subjects, potentially benefiting over 8.5 million Americans suffering from this condition.
