LOVE PHARMA SIGNS LETTER OF INTENT TO ACQUIRE NALTREXONE THERAPEUTICS INC.
October 11, 2022
- Love Pharma adding to its addiction treatment portfolio with transdermal IP acquisition for opioid antagonist drug Naltrexone
- Naltrexone primarily used to treat alcohol and or opioid use disorder and is currently delivered orally which exposes patients to GI related side effects such as nausea, which transdermal delivery is poised to solve
- Naltrexone Therapeutics holds IP for transdermal delivery of Naltrexone, delivering benefits to patients through greater bioavailability, ease of use and reduction and/or elimination of side effects
VANCOUVER, BC, CANADA (October 11th, 2022) – LOVE Pharma Co. (“LOVE” and or “The Company”)(CSE: LUV) (FSE: G1Q0), the Company is pleased is announce that it has signed a non-binding Letter of Intent (LOI) as of October 10th, 2022, to acquire Naltrexone Therapeutics Inc., a pharmaceutical technology company with significant IP related to the transdermal delivery of FDA approved Naltrexone.
Naltrexone is an opioid antagonist, primarily used to manage alcohol and or opioid use disorder by reducing cravings and feelings of euphoria associated with substance abuse disorder. Transdermal delivery of Naltrexone is anticipated to regulate dosage, reduce GI related side effects and improve the patient experience overall. Most importantly, transdermal delivery of Naltrexone may eliminate and or reduce current side effects of the drug such as nausea, which may restrict the growth of the existing Naltrexone market.1
“Love Pharma is very excited to add the Naltrexone Therapeutics transdermal patch IP to our addiction treatment portfolio,” said Mr. Zach Stadnyk, Love Pharma President and CEO. “Transdermal delivery can provide patients with convenient and safe Naltrexone treatment, providing greater bioavailability, steady absorption and fewer GI related side effects common with oral dosages currently available, the latter of which we believe has the potential to expand the market for Naltrexone.”
Benefits to Patients
- Reduce need to take oral tablets, improving compliance
- Exact dosage delivered easily and safely
- Patient centered approach, reducing and/or eliminating GI related side effects such as nausea
Transdermal Delivery – How it works
- The transdermal formulation of a drug can be incorporated within a patch which is then applied to the skin surface of the patient
- A transdermal patch provides a consistent absorption rate over a pre-determined time as prescribed. The delivery method for transdermal delivery of suitable drugs can be highly flexible and can be applied for periods such as 24, 48, 72 , 96, 120, 144 hours – up to 7, 8, 13, 14 or 15 days
- Transdermal delivery overcomes the challenge of multiple dosage regimens associated with oral applications and accurately reflects the proper dosage entering the patient’s system to address the symptoms, while also circumventing the GI tract and related side effects
Love Pharma and Naltrexone Therapeutics Inc. have signed a non-binding LOI for Love to acquire 100% of Naltrexone Therapeutics. Naltrexone Therapeutics owns IP related to transdermal delivery of Naltrexone.
The drug addiction treatment market is forecast to surpass $31 Billion by 2027 according to research from Reports and Data.2
“Love Pharma is developing a strong thesis around transdermal drug delivery applications in the addiction space due to the multiple patient centred benefits and the Company’s top tier relationships with biotech laboratories that specialize in fast tracking the development, approvals and launch of transdermal drug delivery systems, opening up new markets and applications for existing FDA approved drugs,” added Mr. Stadnyk.
Terms of the Transaction:
- The acquisition is considered an arms-length transaction
- 100% of company will be purchased and become a wholly owned subsidiary
- Total consideration of $2,000,000 CAD payable in common shares of the issuer
- The company anticipates closing the transaction within 30 days subject to final due diligence, further details will be released upon the signing of a definitive agreement.
Zachary Stadnyk, CEO and Director
About Love Pharma Inc.
With a focus on the global sexual Health and Wellness markets, Love Pharma Inc. (CSE: LUV) (FSE: G1Q0) was founded in 2020, with a mission to bring to market innovative products that enhance sexual health and wellness while providing an improved quality of life. Love Pharma holds exclusive licenses to produce market, package, sell, and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom, and North America.
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