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FAQ: Nutriband Inc.'s Sale of Pocono Pharmaceutical Stake and AVERSA Fentanyl Development
TL;DR
Nutriband gains $5 million to develop AVERSA Fentanyl, potentially capturing $80-200 million in annual U.S. sales as the first abuse-deterrent fentanyl patch.
Nutriband sold 90% of Pocono Pharmaceutical for $5 million, retaining 10%, with proceeds funding AVERSA Fentanyl's abuse-deterrent transdermal patch development.
Nutriband's AVERSA Fentanyl patch aims to prevent opioid abuse and accidental exposure, potentially improving public safety and reducing addiction risks.
Nutriband's AVERSA technology transforms standard transdermal patches into abuse-deterrent systems, pioneering a new approach to opioid safety.
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Nutriband Inc. has signed an agreement to sell a 90% interest in its subsidiary Pocono Pharmaceutical to EarthVision Bio for $5 million, while retaining a 10% ownership stake.
The proceeds from the sale will be used to support continued development of AVERSA Fentanyl, Nutriband's abuse-deterrent transdermal opioid patch.
AVERSA Fentanyl is a transdermal opioid patch designed to deter abuse, misuse, and accidental exposure, which Nutriband believes has the potential to become the world's first abuse-deterrent fentanyl patch with estimated annual U.S. sales of $80-200 million.
Nutriband is primarily engaged in developing a portfolio of transdermal pharmaceutical products, with its lead product being an abuse-deterrent fentanyl patch incorporating AVERSA™ 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 latest news and updates relating to NTRB are available in the company's newsroom at https://ibn.fm/NTRB, and the company's website is www.nutriband.com.
This content was published by InvestorWire, a specialized communications platform within the Dynamic Brand Portfolio @ IBN that provides wire-grade press release syndication and corporate communications solutions for companies.
Nutriband will retain a 10% ownership interest in Pocono Pharmaceutical following the sale of 90% to EarthVision Bio.
Curated from InvestorBrandNetwork (IBN)
