Nutriband (NASDAQ: NTRB) announced that it 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 interest following the transaction. The company said proceeds from the sale will be used to support continued development of AVERSA Fentanyl, 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 and generate estimated annual U.S. sales of $80 million to $200 million.
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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(TM) abuse-deterrent technology. AVERSA(TM) 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.
NOTE TO INVESTORS: The latest news and updates relating to NTRB are available in the company’s newsroom at https://nnw.fm/NTRB
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