VANCOUVER, British Columbia, Nov. 07, 2022 (GLOBE NEWSWIRE) -- LOVE Pharma (CSE:LUV) (FSE:G1Q0) continues with its plans to develop a portfolio of innovative products encompassing transdermal drug delivery applications. On October 11th, LOVE Pharma signed a nonbinding Letter of Intent to acquire 100% of Naltrexone Therapeutics, bringing significant IP related to the transdermal delivery of FDA approved Naltrexone, 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.
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The addressable drug addiction treatment market alone is forecast to surpass US$31 billion by 2027. This addition to LOVE Pharma’s portfolio, has another potentially promising application, that being for the treatment of post-Covid conditions or “long COVID”
As reported by Reuters, following a handful of long COVID pilot studies, there are now at least four clinical trials planned to test naltrexone in hundreds of patients with long COVID. It was further reported that Naltrexone is on the short list of treatments to be tested in the U.S. National Institutes of Health’s $1 billion RECOVER Initiative, which aims to uncover underlying cause and find treatments for long COVID. Reuters went on to report that beyond treating symptoms caused by COVID damage to organs, low-dose naltrexone may actually reverse some of the underlying pathology driving symptoms.
As of November 3rd, the World Health Organization has confirmed 629 million cases of COVID, along with 6.5 million deaths. And according to a National Library of Medicine report, 37.7% of COVID patients experience symptoms beyond 12 weeks from infection, translating to a significant market need for treatment.
Management believes this new IP could potentially expand Love Pharma’s reach into additional therapeutics, positioning the company at the leading edge of addressing unmet medical needs.
Currently Naltrexone is sold by several generic drug manufacturers in a 50mg format, which is 10 times the low dose being considered for long COVID treatment, requiring low dose prescriptions to be compounded, which limits access and availability. The transdermal formulation of a drug can be incorporated within a patch which is then applied to the skin surface of the patient.
With significant promise in early applications in treating long COVID as reported, it is anticipated that transdermal delivery of Naltrexone can provide a drug plasma concentration at a consistent absorption rate over a pre-determined time as prescribed. Although requiring further study, Naltrexone Therapeutics transdermal delivery IP may offer a patient friendly, low-dose delivery solution that can be readily available to patients.
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.
Zach Stadnyk, CEO, stated: “Transdermal delivery can provide patients with a convenient, safe, and regulated dosage of Naltrexone that allows for greater bioavailability, steady absorption, ease of use, and fewer gastrointestinal tract-related side effects that are common with oral dosages currently available, the latter of which we believe has the potential to expand the market for Naltrexone.”
Love Pharma’s portfolio also includes the previously announced investment in Starton Therapeutics, a leading US clinical-stage biotechnology company, which has a proprietary continuous drug delivery technology that can improve efficacy of approved drugs, make them more tolerable, and expand their potential use.
LOVE Pharma is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 at this time.
With a focus on the global sexual Health and Wellness markets, Love Pharma 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.
The shares are currently trading at $0.01. For more information, please visit the company’s website www.love-pharma.com, contact Zach Stadnyk, CEO, at 604-343-2977 or by email at investors@love-pharma.com.
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