Nutriband Inc. Initiates Commercial Development of Lead Product AVERSA(TM) Fentanyl

Rhea-AI Summary

Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW) has launched the development of its lead product, AVERSA™ Fentanyl, aiming to create the world’s first abuse-deterrent fentanyl transdermal system. This initiative follows the company's uplisting to NASDAQ and new financing. The focus will include developing a commercial strategy, market assessment, and selecting a manufacturer to expedite market entry. CEO Gareth Sheridan emphasized the importance of improving safety while ensuring accessibility for patients. Nutriband specializes in transdermal pharmaceutical products.

Positive

• Commenced development of AVERSA™ Fentanyl, the first abuse-deterrent fentanyl transdermal system.
• Successful uplisting to NASDAQ provides enhanced visibility and credibility.
• The financing will support commercial development and market entry efforts.

Negative

• Dependent on regulatory approvals from the FDA and other authorities for market access.
• The development phase involves inherent risks and uncertainties, which may delay product launch.

ORLANDO, FL / ACCESSWIRE / November 16, 2021 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a company engaged in the development of pharmaceutical products, contract research and development services, and the manufacture of transdermal products, has commenced the development of its lead product candidate, AVERSA^™ Fentanyl, an abuse deterrent fentanyl transdermal system.

Following the Company's recent successful uplisting to NASDAQ and financing, the company has started the commercial development of AVERSA™ Fentanyl, which has the potential to be the world's first fentanyl transdermal system with abuse deterrent properties. The initial focus will be to develop the commercial strategy and market assessment for the product and to select a commercial manufacturer to help bring the product to market.

‘'We are excited to ramp up development activities for AVERSA^™ Fentanyl'' said Gareth Sheridan, CEO. ‘'Improving the safety profile of easily abused transdermal drugs such as fentanyl, while making sure that these drugs remain accessible to those patients who really need them is the driving force for our company.''

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, 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.

For more information, contact:
Investor Relations
RedChip Companies
Dave Gentry
Dave@redchip.com
1-800-RED-CHIP (733-2447)
407-491-4498

SOURCE: Nutriband Inc.

View source version on accesswire.com:
https://www.accesswire.com/673047/Nutriband-Inc-Initiates-Commercial-Development-of-Lead-Product-AVERSATM-Fentanyl

FAQ

What is AVERSA™ Fentanyl and its significance for Nutriband Inc.?

AVERSA™ Fentanyl is Nutriband's lead product, aiming to be the first fentanyl transdermal system with abuse-deterrent properties, enhancing patient safety.

When did Nutriband Inc. announce the development of AVERSA™ Fentanyl?

Nutriband announced the development on November 16, 2021.

What are the risks associated with AVERSA™ Fentanyl's development?

Risks include the need for FDA approval, potential delays, and competition in the transdermal drug market.

How does Nutriband plan to bring AVERSA™ Fentanyl to market?

The company will focus on developing a commercial strategy and selecting a manufacturer for production.

What are the stock symbols for Nutriband Inc.?

Nutriband Inc. trades under the symbols NTRB and NTRBW on NASDAQ.