ORLANDO, Fla., July 16, 2020 /PRNewswire/ -- Nutriband Inc. (OTCQB: NTRB), a Nevada Corporation, announced that it has agreed terms for the acquisition of Pocono Coated Product's Transdermal and Health product manufacturing Business.
The acquisition is another step in our expansion plans to strengthen the company, following our acquisition of 4P Therapeutics. Pocono is set to become the manufacturing subsidiary of Nutriband while 4P Therapeutics will maintain clinical development operations. We plan to consolidate capabilities at both facilities to expand on enhancing revenue stream opportunities and in-house product development, specifically our abuse deterrent technology for opioid based transdermal medications.
The acquisition will also include the simultaneous acquisition by Pocono of Active Intelligence kinesiology tape, a veteran-owned company, whose sports tape incorporates pain relieving active ingredients.
About Nutriband Inc.
The Company is primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Its lead product under development is its abuse deterrent fentanyl transdermal system which the Company is developing to provide clinicians and patients with an abuse deterrent transdermal fentanyl product for use in managing chronic pain requiring opioid therapy. The product is combined with properties designed to help combat the opioid crisis by deterring the abuse and misuse of fentanyl patches.
The Company's website is www.nutriband.com and 4P's website is www.4PTherapeutics.com. Any material contained in or derived from the Company's or 4P's websites or any other website is not part of this press release.
About Our Forward-Looking Statements
Certain statements contained in this press release, including, without limitation, statements containing the words "believes," "anticipates," "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. The Company's actual results may differ materially from those anticipated in its forward-looking statements as a result of a number of factors, including those including the Company's ability to develop its proposed abuse deterrent fentanyl transdermal system and other proposed products, its ability to obtain patent protection for its abuse technology, its ability to obtain the necessary financing to develop products and conduct the necessary clinical testing, its ability obtain Federal Food and Drug Administration approval to market any product it may develop in the United States and to obtain any other regulatory approval necessary to market any product in other countries, including countries in Europe, its ability to market any product it may develop, its ability to create, sustain, manage or forecast its growth; its ability to attract and retain key personnel; changes in the Company's business strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general economic and market conditions and risks generally associated with an undercapitalized development stage company that does not have a product that can be marketed and the risks contained under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Form 10-K for the year ended January 31, 2020 and under "Management's Discussion and Analysis of Financial Conditions and Results of Operations" in the Company's Form 10-Q for the three months ended April 30, 2020, and the Company's other filings with the Securities and Exchange Commission. Except as required by applicable law, we undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date hereof.