Fintech PR
Demand for Abuse Deterrent Formulation Technology Skyrocketing as Opiate Abuse is on the Rise
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Sept. 20, 2023 /PRNewswire/ — The demand for abuse deterrent formulation technology is projected to grow due to growing misuse of drugs among the people. Growing demand for abuse deterrent formulation technology from the pharmaceutical industry is driving the market growth. Abuse-deterrent formulations are used to decrease the abuse, addiction, and overdose of orally prescribed opioids. The increasing use of abuse deterrent formulations for postoperative pain along with the growing incidence of diseases like cancer is also driving the market growth. A recent report from Global Market Estimates projects that the global abuse deterrent formulation technology market is estimated to witness a high CAGR during the forecast period through 2026. The report said: “On the basis of drug class, the global abuse deterrent formulation technology market is segmented into opioids, antidepressants, and CNS stimulants. Opioids segment held the largest share and is projected to grow at the highest CAGR during the forecast period. Reducing misuse and abuse is one of the more interesting applications of abuse deterrent formulation. The growing use of opioids for pain has led to the increased availability of these medications in the population across the globe. On the basis of approach, the market is segmented into physical /chemical barriers, agonist / antagonist combinations, aversion approach, prodrug approach, and abuse-deterrent drug delivery systems among others. Abuse-deterrent drug delivery systems segment held the largest market share and is projected to grow at the highest CAGR during the forecast period. Increase in abuse of controlled substances and resulting overdose deaths is correlated with significant increases in the supply of such medications, including opioids, central nervous system depressants.” Active companies in the markets this week include: Nutriband Inc. (NASDAQ: NTRB), Clearmind Medicine Inc. (NASDAQ: CMND), Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), Cybin Inc. (NYSE American: CYBN), Eli Lilly and Company (NYSE: LLY).
The Global Market report concluded: “North America is expected to dominate the market growth and is expected to grow at the highest CAGR during the forecast period. Rise in research and development activities and increase in prescription of opioid pain medication drugs is expected to boost the market growth in the region. The European region is also expected to grow at the significant CAGR during the forecast period. Growing number of accidents and increasing number of operations are some of the key factors which are projected to foster market growth during the coming years in the region.”
Nutriband Announces Issuance of U.S. Patent for Transdermal Abuse Deterrent Technology – Patent issuance expands U.S. patent portfolio for AVERSA™ transdermal abuse deterrent technology – 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 (Health Advances market analysis report 2022.)
“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.” CONTINUED… Read this full press release and more news for NTRB at: https://www.financialnewsmedia.com/news-ntrb.
Other recent developments in the mental health industry of note include:
Clearmind Medicine Inc. (NASDAQ: CMND), a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, recently announced that the company has entered into a Clinical Trial Agreement with Johns Hopkins University School of Medicine (“JHU”) to conduct its Phase I/IIa clinical trial of its proprietary MEAI-based CMND-100 (“CMND-100“).
The principal investigator, Jennifer Ellis, PhD, Associate Professor of Psychiatry and Behavioral Sciences, JHU School of Medicine will be supported by co-investigators Professor Eric Strain, Director, Behavioral Pharmacology Research Unit, JHU School of Medicine.
“We are honored to collaborate with JHU for our first in human clinical trial. JHU is one of the global leaders in psychedelics clinical research and in researching addictions, and we are very grateful to partner with them to study our proprietary CMND-100 to treat Alcohol Use Disorder,” said Clearmind’s Chief Executive Officer Dr. Adi Zuloff-Shani. “Johns Hopkins is our second US clinical site joining our trial, following Yale School of Medicine’s Department of Psychiatry. We are excited to be working closely with two of the world’s leading medical centers, who have researched our treatment and agreed to participate in our clinical program.”
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders, recently announced that it has completed enrollment and dosing in Study MMED008, the Company’s Phase 2b study evaluating MM-120 (lysergide D-tartrate) for the treatment of GAD.
“Completion of enrollment of this study is a significant milestone for MindMed and moves us one step closer to our goal of transforming the treatment of GAD for the millions suffering from the disorder,” said Robert Barrow, Chief Executive Officer and Director of MindMed. “Thanks in large part to the enthusiasm we have seen regarding MM-120 among investigators and patients, as well as the strong execution of our team, we were able to enroll almost 200 participants in this trial in just over a year. We anticipate sharing topline results during the fourth quarter of this year.”
Cybin Inc. (NYSE American: CYBN), a clinical-stage biopharmaceutical company committed to revolutionizing mental healthcare by developing new and innovative psychedelic-based treatment options, recently announced that the United States Patent and Trademark Office (“USPTO”) has granted U.S. patent 11,746,088, covering composition of matter for deuterated tryptamine compounds and pharmaceutical compositions thereof, with exclusivity until 2041. The newly granted U.S. patent covers deuterated 5-methoxy-dimethyltryptamine analogs in the Company’s pre-clinical deuterated tryptamine portfolio and further strengthens the Company’s leadership position in the development of potential best-in-class deuterated tryptamine-based therapeutics for the treatment of mental health conditions.
“The grant of this patent is timely as we recently entered into a definitive agreement to acquire Small Pharma Inc., a leading developer of short-duration psychedelic therapeutics, together creating the psychedelic sector’s most impressive and robust intellectual property portfolio. The strong synergy of our collective intellectual property provides an unparalleled opportunity to develop novel, differentiated therapeutics for patients in need of improved treatment options,” said Doug Drysdale, Chief Executive Officer of Cybin. “Looking towards the next chapter for the combined company, this new composition of matter patent will have an important role in protecting the continued advancement of our development pipeline.”
Eli Lilly and Company (NYSE: LLY) involvement with Opioid disorders: Lilly Collaborates with the National Institute on Drug Abuse (NIDA) to Identify Treatments for Opioid Use Disorder (OUD) – Scientists at Lilly evaluate hundreds of molecules every year, prioritizing and advancing treatments with the strongest likelihood to make life better for people around the globe.
Through Lilly 30×30, we seek to drive our social impact further by improving access to quality healthcare for 30 million people living in resource-limited settings by 2030. Our strategy to accomplish this is through our drug development pipeline, programs to increase access and affordability, and partnerships with nonprofit organizations in the U.S. and abroad. As part of the Lilly 30×30 pipeline efforts, Lilly is collaborating with NIDA through a Screening Agreement to explore the potential of some early-phase therapies that might be repurposed for the treatment of opioid use disorder (OUD).
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated forty six hundred dollars for news coverage of the current press releases issued by Nutriband Inc. by the company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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Fintech PR
DeFinity Markets Integrates Fireblocks to enable secure API Digital Asset Operations for Institutions
LONDON, Nov. 7, 2024 /PRNewswire/ — DeFinity Markets, the first full-stack institutional digital asset matching and settlement platform for fiat and crypto, has integrated Fireblocks, an enterprise platform for building blockchain applications and managing digital asset operations, to facilitate safe storage and transactions for select API clients.
Fireblocks’ cutting-edge security infrastructure, combined with DeFinity’s advanced order matching and settlement capabilities across FX and digital assets, empowers users to trade seamlessly with minimal friction. By leveraging Fireblocks, DeFinity ensures institutional clients can execute trades with enhanced transparency, security, and ease.
Michael Shaulov, CEO of Fireblocks, said: “We are excited to support DeFinity Markets as they leverage our infrastructure to enhance the security and efficiency of their digital asset operations. With our infrastructure in place, DeFinity’s API clients can trade with confidence and ease, knowing their transactions are backed by the best security out there.”
The seamless integration of Fireblocks’ and DeFinity Markets’ services underpins the mutual dedication to helping clients achieve their digital assets and fiat requirements efficiently.
Manu Choudhary, CEO of DeFinity Markets, commented: “We are delighted to work with Fireblocks as it fits well into our strategic vision and roadmap of providing PB credit intermediated trading services for digital asset clients in the TradFi space.”
This integration further solidifies both companies’ commitment to supporting institutional clients in meeting their digital asset and fiat requirements with efficiency and security. Fireblocks’ advanced network capabilities simplify digital asset transfers by streamlining wallet address management, significantly reducing the risk of manual entry errors.
Michael Siwek, co-founder of DeFinity Markets, concluded: “This ongoing collaboration is very timely given our group company’s recent Jersey VASP status and the full launch of digital assets on the island. We will be working closely with Fireblocks to deliver a suite of products to our future PB clients transacting crypto currencies.”
As the custodian landscape evolves, the demand for qualified custody among institutional market participants continues to grow. The Fireblocks Trust Company is poised to offer the most secure, bank-grade cold storage solution, ensuring the highest level of protection for digital assets and supporting the growth of the U.S. digital asset ecosystem. TrustCo allows us to offer clients the flexibility to choose between traditional bank-backed cold storage and Fireblocks-backed physical cold storage, ensuring the highest level of security for their assets. Fireblocks’ cold storage custody solution meets New York Banking Law regulatory requirements, as well as the SEC’s Custody Rule, to provide comprehensive compliance and peace of mind for institutional clients.
By working with Fireblocks, we expect to further drive innovation in the rapidly evolving digital asset space, creating new opportunities for institutions to engage in cross-asset trading with unparalleled security, liquidity, and flexibility.
About DeFinity Markets
DeFinity Markets® is the Institutional Standard in Digital Assets Trading and fiat rails. DeFinity is built on institutional-grade technology offering unprecedented digital assets market access to globally leading Financial Institutions seeking to diversify their portfolio. The DeFinity management team has applied decades of knowledge of traditional financial markets to create the DeFinity ECN with direct market access. Platform participants can transact fiat FX trades with the digital asset’s component completed on the DeFinity ECN. The ECN is custody-agnostic and provides FIX API access, a standardized rulebook powered by an embedded AML/KYC framework. We aggregate quotes from market makers on which qualified clients can transact digital assets. DeFinity offers access to liquidity across all major digital assets, including stable coins. The DeFinity ECN supports fiat currencies including GBP, EUR, USD crosses supported by an integrated fiat on and off-ramp gateway.
Media Room DeFinity Markets
[email protected]
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Fintech PR
Loyyal’s Xpand Point Partners with Easyrewardz to bring Loyalty Points Exchange for Programs across Middle East, India, Europe and APAC
Partnership to offer loyalty points exchange for travel, hospitality, and lifestyle rewards for banking customers beyond borders
DUBAI, UAE, Nov. 7, 2024 /PRNewswire/ — Easyrewardz, a leading provider of cloud-based CRM and loyalty platform, has announced a strategic partnership with Loyyal, a UAE-based pioneer in blockchain-powered loyalty solutions. This collaboration is set to redefine the loyalty landscape by introducing enhanced point conversion capabilities and offering unique, experiential redemption options, giving customers more flexible and engaging ways to use their loyalty points.
The collaboration will bring Loyyal’s innovative loyalty points exchange platform, Xpand Point to India’s BFSI (Banking, Financial, and Insurance) sector, integrating it with Easyrewardz Loyalty Management System (LMS) to provide businesses with tools that enhance customer retention and drive deeper engagement. Through this partnership, millions of banking members will unlock a new world of benefits, both within India and globally, with exciting opportunities to earn, redeem, and exchange points across various categories of offers.
This alliance brings together two industry leaders, creating a powerful synergy that enhances their value propositions and sets the stage for a transformation in the loyalty market. The partnership also taps into growth opportunities in the Middle East, Europe and APAC region, with a focus on high-demand markets like Saudi Arabia, UAE, UK, Germany, Turkey, Singapore, Hong Kong and Australia where the need for advanced loyalty programs is rapidly increasing. These opportunities will be harnessed through a comprehensive redemption catalogue and Loyyal’s Xpand Point platform, enabling seamless integration and enhanced member experiences.
Ashish Kumar Singh, CEO of Loyyal, quoted, “We are thrilled to partner with Easyrewardz to bring our blockchain-powered loyalty ecosystem to the BFSI sector in India. This collaboration represents a significant opportunity for both companies to innovate and redefine customer engagement across multiple markets, leveraging our combined strengths to deliver personalized and rewarding experiences.”
The partnership aims to create additional growth opportunities for both companies by establishing them as channel partners. Together, Easyrewardz and Loyyal will promote each other’s services, collaborate on marketing initiatives, and offer cross-platform solutions that amplify customer loyalty and engagement. This partnership will enable Easyrewardz to leverage Loyyal’s network of merchants and points exchange partners in India to its clients and prospects in the GCC region through a redemption catalogue and the Loyyal Points Exchange platform.
Soumya Chatterjee, Co-Founder & CEO of Easyrewardz, highlighted the broader impact of this collaboration, saying, “At Easyrewardz, we have always been committed to creating exceptional customer experiences by understanding and anticipating the needs of businesses.
Our partnership with Loyyal will not only allow us to deepen our presence in the BFSI sector but also open doors to new possibilities in the GCC region. Easyrewardz has always had a customer-centric approach and thus by integrating Loyyal’s innovative Points Exchange platform – Xpand Point, into our existing reward offering we are further enhancing our affluent offerings and catering to the growing demand in premium segments for outbound travel and experiences. Together, we will reshape the way businesses approach loyalty, focusing on delivering exceptional value and driving sustainable growth for our clients across industries.”
This partnership is set to deliver significant benefits for businesses by enabling them to adopt more flexible, personalized, and data-driven loyalty programs. With the ability to engage customers at multiple touchpoints and simplify redemption processes, the combined expertise of Loyyal and Easyrewardz will offer unparalleled loyalty solutions that foster deeper customer relationships and generate long-term value.
Gunjan Kumar, Chief Revenue Officer of Loyyal, expressed the significance of this collaboration, stating, “Our partnership with Easyrewardz marks a pivotal step in redefining customer loyalty. By integrating Loyyal’s cutting-edge Xpand Point platform with Easyrewardz extensive expertise in the BFSI sector, we are crafting a robust solution that not only meets current demands but also anticipates future trends in customer engagement. Together, we are moving beyond mere transactional loyalty to foster deeper, lasting relationships that enhance member retention.”
As industries increasingly focus on retaining loyal customers and nurturing brand advocates, this partnership positions Loyyal and Easyrewardz at the forefront of innovation, offering businesses the tools and strategies they need to remain competitive in the rapidly evolving loyalty landscape.
About Loyyal
Loyyal is renowned for its innovative Enterprise SAAS Suite for Loyalty & Payments powered with patented blockchain technology, based in UAE, US and India. Loyyal SAAS disrupts loyalty industry with metrics of incremental revenue, rapid growth and scalability at the lowest possible cost. Xpand Point, the world’s first blockchain enabled loyalty points exchange platform leverages Loyyal’s unique USP to empower every program with interoperable exchange facility across different programs, categories both locally and internationally. For more information, please visit www.loyyal.com for PR related queries contact [email protected].
About Easyrewardz
Easyrewardz is an industry-agnostic cloud-based CRM & Loyalty platform that enables seamless omnichannel customer experience. Easyrewardz innovative ways to engage new customers & retain existing ones by leveraging technology are helping businesses embrace digital disruption leading to excellent customer experiences. Easyrewardz has more than a decade experience in managing BFSI, Retail and B2B loyalty & CRM programs to provide a seamless & rewarding experience to their customers, enabling consistent engagement.
More than 180 brands, including RBL Bank, Kotak Bank, J&K Bank, Bajaj Finserv, IIFL, Muthoot Fincorp, Bata (India & APAC), BESTSELLER, The Belgian Waffle, The Body Shop, Levi’s, Soch, Senco, and Motherhood Hospitals have trusted Easyrewardz to create brand markers and delight customer. For more information, please visit www.Easyrewardz.com
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View original content:https://www.prnewswire.co.uk/news-releases/loyyals-xpand-point-partners-with-easyrewardz-to-bring-loyalty-points-exchange-for-programs-across-middle-east-india-europe-and-apac-302298085.html
SEOUL, South Korea, Nov. 7, 2024 /PRNewswire/ — KT&G (KRX:033780), a global ‘top-tier’ cigarette manufacturer, has begun its expansion into Europe, starting with Romania in April, followed by Portugal, Andorra, and Spain with its representative superslim brand ESSE.
KT&G is South Korea’s leading company holding the No. 1 position in each of its Next Generation Products (NGP), Health Functional Foods, and Combustible Cigarettes (CC) businesses. To further consolidate its position as a global top-tier player, KT&G is accelerating overseas growth in its three core growth business areas, NGP, Health Functional Food, and Global CC.
To this end, KT&G is currently focusing on expanding its global business with subsidiaries or offices in 10 countries around the world, including Europe, Indonesia, Taiwan and Kazakhstan. Last year, the company introduced a company-in-company (CIC) system for each region with the aim of expanding overseas markets more aggressively and expanding local distribution coverage, and is accelerating growth in Eurasia and Asia-Pacific. As of the end of ’23, KT&G sold about 717 brands with 5,184 employees in 143 countries around the world, strengthening its position as a global top-tier company.
In particular, KT&G is expanding direct management from production to marketing and sales by building a localized value chain centered on CICs in each overseas region. To this end, KT&G began construction of a new factory in Almaty, Kazakhstan, last year and has begun construction of the second and third factories in Indonesia, in addition to its existing factories there, speeding up its efforts to secure a global production base. In particular, once the construction of the second and third factories in Indonesia is completed, Indonesia will become the largest overseas production base for KT&G’s business and a key growth engine for achieving its mid- to long-term vision.
The fruits of growth investments for global business expansion efforts are already being realized. Last year, KT&G’s overseas sales of cigarettes reached 53.2 billion pieces, a new record for the company. This year’s second quarter was also the largest quarterly sales quarter, and according to analysts’ forecasts, overseas cigarettes are expected to break the record again in the third quarter.
KT&G is not resting on its laurels, and is preparing for new growth by establishing its status as a “Global Top-tier” company in accordance with the “2027 KT&G Vision,” which was newly established in 2023. KT&G is strengthening its intrinsic competitiveness and structural innovation centered on its three core businesses, and has set ‘50% of sales from overseas business’ and ‘60% of sales from non-tobacco business’ as its main business KPIs for 2027, and is focusing its company-wide capabilities to achieve them. Through this, KT&G plans to surpass the No. 1 ranking in Korea and achieve the Global Top 4.
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