Nutriband Acquires 4P Therapeutics

Nutriband has acquired 4P Therapeutics for $1.9 million. 4P Therapeutics will now become the pharmaceutical and development arm of Nutriband with a specific focus on transdermal and topical technologies, prescription drugs and clinical development. Steven Damon, chief executive officer of 4P Therapeutics, has been appointed to Nutriband's board of directors.

Included in the acquisition of 4P's IP portfolio is Defent abuse deterrent patch technology, an opioid abuse deterrent platform for the transdermal delivery of opioid-based medications. Defent lowers the risk of abuse and misuse, creating a safer treatment for patients.

Nutriband has also acquired 4P's Exenatide transdermal delivery system, currently in Phase I clinical development. If successfully taken through Phase III and to commercialization, it will compete with injectable Exenatide such as Byetta and Bydureon by providing an injection-free alternative for patients with type II diabetes.

In addition, Nutriband appointed Alan Smith as head of regulatory and clinical operations. Mr. Smith co-founded 4P Therapeutics in 2011 and serves as vice president, clinical, regulatory, quality, and operations.