VANCOUVER, BC / ACCESSWIRE / October 11, 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
Transdermal Delivery - How it works
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:
1 https://www.alliedmarketresearch.com/naltrexone-HCL-market
2 https://www.pharmiweb.com/press-release/2020-07-20/drug-addiction-treatment-market-to-reach-usd-3117-billion-by-2027-cagr-of-70-pfizer-indivior
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.
For further information, please contact:
Investor Relations
Telephone: 1 (604) 343-2977
E-mail: investors@love-pharma.com
www.love-pharma.com
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SOURCE: Love Pharma Inc.