Orlando, FL, Sept 20, 2023 - (ACN Newswire) - Nutriband Inc. (NASDAQ:NTRB) (NASDAQ:NTRBW), a leading developer of transdermal pharmaceutical products, proudly announces the issuance of a U.S. patent for its cutting-edge AVERSA Technology. This groundbreaking innovation, utilizing taste aversion, marks a paradigm shift in addressing the primary routes of abuse associated with opioid-based transdermal patches.

The newly granted patent, numbered U.S. patent 11,759,431, titled "Abuse and Misuse Deterrent Transdermal Systems," significantly bolsters Nutriband's intellectual property protection in the United States. It covers a range of abuse deterrent transdermal products, all rooted in the proprietary AVERSA abuse deterrent technology. This pioneering technology seamlessly integrates into transdermal patches, effectively countering abuse, diversion, misuse, and accidental exposure of drugs with abuse potential.

Nutriband's flagship product in development, AVERSA Fentanyl, leads the charge in revolutionizing pain management. It aims to become the market's premier abuse deterrent pain patch, setting new standards for safety. This patent signifies a pivotal milestone in Nutriband's strategic vision to fortify its intellectual property foundation around its proprietary abuse deterrent technology. With a global reach encompassing 45 countries, Nutriband's IP portfolio solidifies its position in the market. AVERSA Fentanyl, the company's flagship product, recently projected peak annual U.S. sales ranging from $80M to $200M.

Nutriband's AVERSA abuse deterrent transdermal technology presents a transformative solution to enhance the safety profile of transdermal drugs susceptible to abuse. AVERSA not only ensures continued access for patients in need but also minimizes the risk of abuse, diversion, misuse, and accidental exposure. Backing this pioneering technology is a robust intellectual property portfolio, with patents granted in various countries, including the United States, Europe, Japan, Korea, Russia, Canada, Mexico, and Australia.

About Nutriband Inc.

Nutriband Inc. is a leader in developing transdermal pharmaceutical products. At the forefront is the company's flagship product, an abuse deterrent fentanyl patch incorporating the groundbreaking AVERSA abuse-deterrent technology. AVERSA technology can be seamlessly integrated into any transdermal patch to counteract abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.

For more information, visit www.nutriband.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve known and unknown risks and uncertainties. The Company's actual results may differ materially from those anticipated in its forward-looking statements. Factors that may cause such differences include the Company's ability to develop its proposed abuse deterrent fentanyl transdermal system, obtain patent protection for its abuse technology, secure necessary financing, obtain regulatory approvals, and market its products effectively. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date hereof.

This Press Release is created by PlatoAi

PlatoData AI powered by AmplifiPR
Email: [email protected]

Source: Nutriband

Copyright 2023 ACN Newswire . All rights reserved.

Patent issuance expands U.S. patent portfolio for AVERSA™ transdermal abuse deterrent technology

ORLANDO, FL / ACCESSWIRE / September 20, 2023 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products, today announced that the United States Patent and Trademark Office (USPTO) has granted US Patent No. 11,759,431 for Nutriband's proprietary AVERSA™ abuse deterrent technology utilizing taste aversion to address the primary routes of abuse of opioid based transdermal patches.

The issuance of this patent, entitled, "Abuse and Misuse Deterrent Transdermal Systems," further expands Nutriband's intellectual property protection in the United States for its portfolio of abuse deterrent transdermal products based on its proprietary AVERSA™ abuse deterrent technology. This technology can be incorporated into transdermal patches to prevent the abuse, diversion, misuse, and accidental exposure of drugs with abuse potential. Nutriband's lead product under development is AVERSA™ Fentanyl, an abuse deterrent fentanyl transdermal system, with the potential to become the first abuse deterrent pain patch on the market. AVERSA™ Fentanyl is estimated to have the potential to reach peak annual U.S. sales of $80M - $200M.¹

"The issuance of this patent covering our AVERSA™abuse deterrent transdermal technology that utilizes taste aversion to address a primary route of abuse of opioid patches is an important component of our global IP portfolio." stated Gareth Sheridan, Nutriband CEO. "This new patent strengthens our intellectual property position, which includes patents issued in 45 countries around the world."

¹ Health Advances market analysis report 2022

About AVERSA™ Technology

Nutriband's AVERSA™ abuse deterrent transdermal technology can be utilized to incorporate aversive agents into transdermal patches to prevent the abuse, diversion, misuse, and accidental exposure of drugs with abuse potential. The AVERSA™ abuse deterrent technology has the potential to improve the safety profile of transdermal drugs susceptible to abuse, such as fentanyl while making sure that these drugs remain accessible to those patients who really need them. The technology is covered by a broad intellectual property portfolio with patents granted in the United States, Europe, Japan, Korea, Russia, Canada, Mexico, and Australia.

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-deterrent 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:

Patrick Ryan
CTO Nutriband Inc
[email protected] / [email protected]
121 S Orange Ave, Orlando, FL, 32407
+1 (407) 377-6695

SOURCE: Nutriband, Inc.

View source version on accesswire.com:
https://www.accesswire.com/785775/nutriband-announces-issuance-of-us-patent-for-transdermal-abuse-deterrent-technology

Nominations recognize innovative development of AVERSA™ abuse-deterrent transdermal technology

ORLANDO, FL / ACCESSWIRE / September 12, 2023 / Nutriband Inc. (the "Company") (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products, today announced that it has been shortlisted for 5 awards at the Pharma Industry Awards 2023.

The Pharma Industry Awards is a long-standing award program for recognizing and celebrating the most original and innovative individuals and companies that demonstrate excellence in Ireland's pharma industry.

Nutriband has been shortlisted in the following categories:

• Small / Medium Pharma Company of the Year
• Pharma Project of the Year - AVERSA
• Innovation of the Year - AVERSA
• Research and Development Achievement Award
• Product Impact Award - AVERSA

"This inclusion on the Pharma Industry Awards shortlist is a wonderful recognition of the dedicated work of our Scientific team. Each month we continue to make strong progress in the development of our AVERSA technology with a goal to drastically improve the safety profile of easily abused transdermal drugs'' stated Gareth Sheridan, Nutriband CEO. "We are honored to be nominated alongside some of the most recognizable pharmaceutical companies in Ireland and around the world and look forward to joining our peers at the awards ceremony.""

The awards ceremony will be held on October 26^th, 2023, at the Clayton Hotel Silver Springs, Cork, Ireland. Companies shortlisted and in attendance include AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), Amgen (NASDAQ: AMGN), Sanofi (NASDAQ: SNY), Viatris (NASDAQ: VTRS) and Eli Lilly (NYSE: LLY).

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, 2023 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:

Patrick Ryan
CTO Nutriband Inc
[email protected] / [email protected]
121 S Orange Ave, Orlando, FL, 32407
+1 (407) 377-6695

SOURCE: Nutriband Inc.

View source version on accesswire.com:
https://www.accesswire.com/783185/nutriband-inc-receives-five-nominations-in-the-pharma-industry-awards-2023

• Second quarter 2023 revenues increased 48% compared to second quarter 2022

ORLANDO, FL / ACCESSWIRE / September 11, 2023 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products, today announced financial and operational results for the second quarter ended July 31, 2023.

Key Highlights:

• Generated quarterly revenue of $655,928, up 48% over Q2 2022
• Revenue for six-months ended July 31, 2023, was $1,132,869, up 21% year-over-year
• Increased Existing Credit Line to $5 Million supporting the continued development of AVERSA
• Launched AI Tape Brand and announced Donovan McNabb as AI Tape Brand Ambassador
• Stockholders' equity of $6.9 million as of July 31, 2023

"We are encouraged by the continued revenue growth from Nutriband's subsidiaries, especially our Pocono Pharmaceuticals segment. The recent launch of our AI Tape brand, our first products targeting the consumer market, and the addition of 6-time Pro-Bowl NFL quarterback, Donovan McNabb as a brand ambassador for AI Tape, is a huge milestone for the Company," stated Gareth Sheridan, Nutriband CEO. "We look forward to updating our shareholders as we continue to drive revenue growth and work towards commercializing our innovative transdermal abuse deterrent technology, AVERSA™."

Q2 2023 Financial Highlights:

Revenue for the three months ended July 31, 2023 was $655,928, up 48% from revenue of $456,149 in the second quarter of fiscal year 2022. Revenue growth was driven primarily by increasing demand for the Company's Pocono Pharmaceuticals segment.

Cost of revenues for the three months ended July 31 2023 were $356,256 with gross margins of $299,672, or 46% of revenues, compared to costs of revenue of $304,353 and gross margins of $151,796 in the second quarter of fiscal year 2022.

Research and development expenses for the three months ended July 31, 2023 were $445,122, compared to $277,869 in the second quarter of fiscal year 2022, driven primarily by the development of the Company's Aversa™ product.

Selling, general and administrative expenses for the three months ended July 31, 2023 were $678,738, compared to $908,173 in the second quarter of fiscal year 2022.

Net loss attributable to common shareholders for the three months ended July 31, 2023 was $829,173, or $0.11 per share compared to a net loss of $1,038,675, or $0.12 per share in the second quarter of fiscal year 2022.

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, 2022 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:

Patrick Ryan
CTO Nutriband Inc
[email protected] / [email protected]
121 S Orange Ave, Orlando, FL, 32407
+1 (407) 377-6695

SOURCE: Nutriband Inc.

View source version on accesswire.com:
https://www.accesswire.com/782616/nutriband-inc-reports-second-quarter-2023-financial-results-and-provides-business-update

AI Tape has potential to tap into the $236 million Elastic Therapeutic Tape market

ORLANDO, FL / ACCESSWIRE / August 30, 2023 / Nutriband Inc. (the "Company") (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products, today announces that it has engaged former 6-time Pro-Bowl NFL quarterback, Donovan McNabb as a brand ambassador for its Active Intelligence Tape ("AI Tape") consumer sports recovery tape brand.

Mr. McNabb played in the NFL for 13 seasons, primarily with the Philadelphia Eagles. He played college football at Syracuse University and was the second overall pick in the 1999 NFL draft. As starting quarterback, McNabb lead the Eagles to eight playoff appearances, five division titles, five NFC Championship Games, and an appearance in Super Bowl XXXIX. Mr. McNabb ranks in the top ten in NFL quarterback rushing yards and was the fourth NFL quarterback to amass over 30,000 passing yards, 200 touchdown passes, 3,000 rushing yards, and 20 rushing touchdowns.

As a brand ambassador, Mr. McNabb will lend his cache as an iconic professional athlete to the AI Tape brand and appear in marketing materials promoting the benefits and uses of AI Tape for sports recovery.

AI Tape is designed to combine many of the traditional benefits of kinesiology tape with the addition of soothing and therapeutic ingredients held in suspension with a proprietary adhesive mix.

"We are very excited to welcome Donovan to the AI Tape Team. His immense reputation as a pro athlete will deliver huge exposure and value to the AI Tape brand as we continue the launch of our first products targeting the consumer market," stated Gareth Sheridan, Nutriband CEO. "Consumers looking to take advantage of the sports recovery benefits provided by AI Tape can purchase products, including our Active Intelligence AI Kinesiology Tape, on Amazon or through our Active Intelligence website."

The global Elastic Therapeutic Tape market is expected to be worth US$236.07 Million in 2023 and is expected to grow to US$733.21 Million by 2033 with a CAGR of 12.0%. The global Kinesiology Tape market size is projected to grow from US$ 180.6 million in 2022 to US$ 326.3 million in 2029.

AI Tape is manufactured in the USA at the Company's Pocono Pharmaceutical facility in North Carolina.

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, 2023 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:

Patrick Ryan
CTO Nutriband Inc
[email protected] / [email protected]
121 S Orange Ave, Orlando, FL, 32407
+1 (407) 377-6695

SOURCE: Nutriband Inc.

View source version on accesswire.com:
https://www.accesswire.com/778444/Nutriband-Inc-Announces-Donovan-McNabb-as-AI-Tape-Brand-Ambassador

ORLANDO, FL / ACCESSWIRE / July 27, 2023 / Nutriband Inc. (the "Company") (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products, today announced the launch of its consumer sports recovery tape brand, Active Intelligence AI Tape ("AI Tape"), with products now available for purchase on Amazon and Activeintell.com.

AI Tape is designed to combine many of the traditional benefits of kinesiology tape with the addition of soothing and therapeutic ingredients held in suspension with a proprietary adhesive mix.

"We are very excited for the launch of our AI Tape brand, our first products targeting the consumer market," stated Gareth Sheridan, Nutriband CEO. "Consumers looking to take advantage of the sports recovery benefits provided by AI Tape can purchase products, including our Active Intelligence AI Kinesiology Tape, on Amazon or through our Active Intelligence website."

AI Tape is manufactured in the USA at the Company's Pocono Pharmaceutical facility in North Carolina.

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, 2023 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:

Patrick Ryan
CTO Nutriband Inc
[email protected] / [email protected]
121 S Orange Ave, Orlando, FL, 32407
+1 (407) 377-6695

SOURCE: Nutriband, Inc.

View source version on accesswire.com:
https://www.accesswire.com/770582/Nutriband-Inc-Launches-AI-Tape-Brand-Direct-to-Consumer-Offerings

Company targeting FDA submission in the first half of 2024

AVERSA™ Fentanyl is the flagship product of the Company's AVERSA™ Platform

ORLANDO, FL / ACCESSWIRE / July 14, 2023 / Nutriband Inc. ("Company") (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products, today announced that it has expanded its existing Credit Line facility to $5 Million USD to fund the continued development and regulatory submission process for the Company's patented lead product platform, AVERSA™ Fentanyl, an abuse-deterrent fentanyl transdermal system. The Company is targeting FDA submission for AVERSA™ Fentanyl in the first half of 2024. AVERSA Fentanyl is the flagship product of the Company's AVERSA™ Platform.

AVERSA™ Fentanyl combines Nutriband's proprietary AVERSA™ abuse-deterrent transdermal technology and Kindeva Drug Delivery's FDA-approved transdermal fentanyl patch system. AVERSA™ Fentanyl was recently estimated to have the potential to reach peak annual US sales of $80M - $200M.¹

"This increase in our credit facility allows us to reach key milestones in our regulatory strategy for AVERSA™ Fentanyl," said Gareth Sheridan, Nutriband CEO." "Securing non-dilutive funding that facilitates the advancement of our regulatory and commercial plans is a key component in fulfilling our goal of creating and maintaining value for our shareholders."

Nutriband's AVERSA™ abuse-deterrent technology can be utilized to incorporate aversive agents into transdermal patches to help prevent the abuse, diversion, misuse, and accidental exposure of drugs with abuse potential. The AVERSA™ abuse-deterrent technology has the potential to improve the safety profile of transdermal drugs susceptible to abuse, such as fentanyl, while making sure that these kinds of treatments remain accessible to patients that really need them. The technology is covered by a broad intellectual property portfolio in 45 countries with patents granted in the United States, Europe, UK, Japan, Korea, Russia, Canada, Mexico, and Australia.

¹ Health Advances market analysis report 2022

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 website 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 10-K for the year ended January 31, 2023, filed April 26, 2023, and the Forms 10-Q for that fiscal year filed subsequent thereto 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:

Patrick Ryan
CTO Nutriband Inc
[email protected] / [email protected]
121 S Orange Ave, Orlando, FL, 32407
+1 (407) 377-6695

SOURCE: Nutriband Inc.

View source version on accesswire.com:
https://www.accesswire.com/767926/Nutriband-Increases-Existing-Credit-Line-to-5-Million-USD-for-the-Development-of-its-AVERSATM-Platform-Towards-FDA-Submission

ORLANDO, FL / ACCESSWIRE / June 23, 2023 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products, today announced that it received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) on June 15, 2023 for patent application 17/568,999, "Abuse and Misuse Deterrent Transdermal Systems" which covers its Aversa™ abuse deterrent technology. The receipt of a Notice of Allowance means that the USPTO is expected to issue a U.S. patent for this application after administrative processes have been completed.

The expected issuance of this patent further expands Nutriband's intellectual property protection in the United States for its portfolio of abuse deterrent transdermal products based on its proprietary Aversa™ abuse deterrent technology. This technology can be incorporated into transdermal patches to prevent the abuse, diversion, misuse, and accidental exposure of drugs with abuse potential. Nutriband's lead product under development is Aversa™ Fentanyl, an abuse deterrent fentanyl transdermal system, with the potential to become the first abuse deterrent pain patch on the market.

About AVERSA™ Technology
Nutriband's AVERSA™ abuse-deterrent transdermal technology can be utilized to incorporate aversive agents into transdermal patches to prevent the abuse, diversion, misuse, and accidental exposure of drugs with abuse potential. The AVERSA™ abuse-deterrent technology has the potential to improve the safety profile of transdermal drugs susceptible to abuse, such as fentanyl while making sure that these drugs remain accessible to those patients who really need them. The technology is covered by a broad intellectual property portfolio with patents granted in the United States, Europe, Japan, Korea, Russia, Canada, Mexico, and Australia.

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-deterrent 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:
Patrick Ryan
CTO Nutriband Inc
[email protected] / [email protected]
121 S Orange Ave, Orlando, FL, 32407
+1 (407) 377-6695

SOURCE: Nutriband Inc.

View source version on accesswire.com:
https://www.accesswire.com/763319/Nutriband-Receives-Notice-of-Allowance-for-US-Patent-Covering-Transdermal-Abuse-Deterrent-Technology