Neuropathix, Inc. CEO Issues New Letter to Shareholders; Updates Market on Milestones in Research and Funding
Neuropathix (OTCQB:NPTX) announced milestones in its recent shareholder letter, highlighting growth in its investor base and securing a $2.97 million NIH grant for its lead drug candidate KLS-13019, aimed at treating chemotherapy-induced peripheral neuropathy (CIPN). The grant, awarded based on a peer-reviewed priority impact score of 20, underscores KLS-13019's potential as a non-addictive alternative to opioids. The company is preparing for an IND filing, with significant steps planned for 2022 and early 2023, enhancing its clinical development and research support.
- Secured $2.97 million NIH grant for KLS-13019 clinical studies.
- KLS-13019 shows promising non-addictive properties for CIPN treatment.
- Growing shareholder base and support from long-term investors.
- None.
DOYLESTOWN, PA / ACCESSWIRE / April 6, 2022 / Neuropathix, Inc. ("Neuropathix" or the "Company") (OTCQB:NPTX), a socially responsible pain management life sciences company, announced today that its CEO Dean Petkanas has issued a letter to its shareholders, providing commentary on the Company's recently achieved milestones, updates on its research and financial positioning. Please see the contents of the letter below including a summary.
Summary:
- Neuropathix continues to experience shareholder base growth and further support from long-term investors, including a recent bridge financing.
- In the past decade, pharmaceutical companies have been reluctant to re-address pain treatments following the opioids crisis. However, we see a change on the horizon.
- Neuropathix has designated proprietary, cannabinoid-derivative compound KLS-13019 as lead drug candidate for the treatment of neuropathic pain, a viable alternative to opioids.
- Neuropathix wholly owned subsidiary, Kannalife Sciences, Inc. received a
$2.97 million grant from the National Institutes of Health HEAL program for IND enabling studies and the furtherment of its clinical program for KLS-13019. - The NIH grant was awarded based on a priority impact score of 20 by peer reviewing scientists, denoting the exceptional and novel potential of KLS-13019's non-addictive properties seen through advanced pre-clinical studies for the treatment of chemotherapy induced peripheral neuropathy (CIPN).
- Neuropathix continues to move forward in preparation of an IND filing for the use of KLS-13019 in CIPN. The next two major steps in 2022 will be the successful completion of the first leg of commercial scale up and a drug discrimination study in animals.
- Year two of the grant funding should enable the Company to move KLS-13019 into animal toxicity studies by early 2023, as the next steps towards IND submission with the US FDA.
To read the Letter to Shareholders in full, please visit: https://neuropathix.com/wp-content/uploads/2022/04/Neuropathix-Inc.-Shareholder-Letter-220406.pdf
Research reported in this publication was supported by the National Institute Of Neurological Disorders And Stroke (NINDS) of the National Institutes of Health (NIH) under Award Number R42NS120548.
The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
About KLS-13019
KLS-13019 is Neuropathix patented lead clinical compound for the potential treatment of a range of inflammatory, neurodegenerative and neuropathic pain disorders, beginning with chemotherapy-induced peripheral neuropathy (CIPN). KLS-13019 is a monotherapeutic non-opioid cannabinoid derivative that has been shown to prevent and reverse neuropathic pain in pre-clinical animal studies. KLS-13019 has not been reviewed or approved for patient use by the U.S. Food and Drug Administration (FDA) or any other healthcare authority in the world. Its safety and efficacy have not been confirmed by FDA-approved research.
About Neuropathix, Inc.
Neuropathix is a biopharmaceutical company focused on the research and development of a pipeline of next generation, socially responsible pain management and neuroprotective therapeutics to treat patients with significant unmet medical needs. Over the past ten years, Neuropathix has discovered, developed, and patented a global intellectual property estate, led by its lead clinical target, KLS-13019, as novel, new therapeutic agents designed to prevent and reverse neuropathic pain, reduce oxidative stress, and act as anti-inflammatory neuroprotectants. The Company's family of patented monotherapeutic molecules focuses on treating oxidative stress-related diseases, chronic pain management, and neurodegenerative disorders. The therapeutic targets include chemotherapy-induced peripheral neuropathy (CIPN), a chronic neuropathy caused by toxic chemotherapeutic agents; hepatic encephalopathy (HE), a neurotoxic brain-liver disorder caused by excessive concentrations of ammonia and ethanol in the brain; mild traumatic brain injury (mTBI), a disorder associated with single and repetitive impact injuries; and chronic traumatic encephalopathy (CTE), a disease associated with highly repetitive impact injuries in professional and amateur sports. Neuropathix conducts its research and development efforts at the Pennsylvania Biotechnology Center of Bucks County in Doylestown, PA. For more information about Neuropathix, visit www.neuropathix.com and the Company's Twitter page at @neuropathix.
Forward-Looking Statements
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This press release contains statements about expected future events, the Company's business plan, plan of operations, the viability of the Company's drug candidates, the targeted beneficial effects of KLS-13019, the Company's position, and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements, by definition, involve risks and uncertainties. The Company does not sell or distribute any products that are in violation of the United States Controlled Substances Act.
CONTACTS:
Public Relations:
Kyle Porter
CMW Media
P: 858-221-8001
E: nptx@cmwmedia.com
www.cmwmedia.com
Investor Relations:
Louie Toma
Managing Director
CORE IR
P: 516-222-2560
E: louie@coreir.com
www.coreir.com
SOURCE: Neuropathix, Inc.
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FAQ
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