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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).
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