By Chris Wack
Nutriband, a leading pharmaceutical company, has announced that it has increased its existing credit line facility to $5 million. This additional funding will be used to support the ongoing development and regulatory submission process for its flagship product, Aversa Fentanyl. Aversa Fentanyl is a patented abuse-deterrent fentanyl transdermal system designed to improve safety and prevent drug abuse.
Positive Stock Performance
Following the news, Nutriband’s shares experienced a significant boost, soaring 14% to $2.73 on Friday. This surge comes after the stock hit its 52-week low of $1.92 on June 26. Despite a 34% decrease over the past year, this recent development has injected optimism into the market.
The Aversa Platform and Technology
Aversa Fentanyl is the highlight of Nutriband’s Aversa platform, which incorporates innovative proprietary technology. This new technology allows for the integration of the abuse-deterrent features into transdermal patches, thereby enhancing the safety profile and minimizing the risk of drug abuse and exposure, particularly with potent substances like fentanyl.
Key Milestones and Potential Market Impact
Nutriband has set its sights on submitting Aversa Fentanyl to the U.S. Food and Drug Administration (FDA) by the first half of 2024. Recent estimates suggest that this groundbreaking product could achieve peak annual sales ranging from $80 million to $200 million in the United States alone. These projections underscore the immense potential of Aversa Fentanyl in addressing the growing need for safer and more effective pain management solutions.
Global Intellectual Property Protection
The Aversa technology is protected by a robust intellectual property portfolio, with patents granted in 45 countries worldwide. Notable jurisdictions where protection has been secured include the United States, Europe, the United Kingdom, Japan, Korea, Russia, Canada, Mexico, and Australia. This extensive IP coverage reflects Nutriband’s commitment to safeguarding its revolutionary technology and maintaining a competitive edge in the global market.
For more information on Nutriband and its groundbreaking products, please visit their official website.
*Originally published on source.
