“Our goal is to develop innovative products using our proprietary topical delivery platform (DelivraTM) to meet significant unmet medical needs and improve quality of life. With our proven patent-pending technology and formulation expertise, we have created medical grade products that have shown significant efficacy and predictable outcomes to patients,” said Dr. Joseph Gabriele, CEO of Delivra. “With the capability to deliver products on the market immediately that provide superior efficacy with minimum side effects that are commercial-ready, Delivra will capitalize on the significant growth opportunities ahead and advance innovative and alternative therapeutics to broaden the Company’s product offerings.”
According to Health Canada Statistics, 1 in 5 Canadians from ages 12-44 suffer from chronic pain, representing a significant unmet medical need to improve treatments for patients. The Canadian Pain Society identifies chronic pain as an expensive problem, not only to the patient, but also society in general. The traditional treatments cost billions of dollars a year in health costs, lost productivity, and social costs to lives that are further derailed by addiction or depression. According to National report by the Federal Government of Canada, the Canadian opioid related death rate is 8.8 per 100,000 population.
DelivraTMN, meets the growing need for specialized products with alternative delivery mechanisms for treating patients with less side-effects than inhalation, needles and oral methods of drug delivery. Specifically, FDA-approved cannabis-like molecules such as nabilone, and a safer opioid molecule, buprenorphine, are combined and formulated with the Company’s patent-pending DelivraTMN base; that have been successfully tested in human pain clinics and have demonstrated to help in numerous chronic pain patients to manage their symptoms. As a partner with the National Research Council of Canada, Delivra takes a strict regulatory approach by testing all formulations in the Company’s formulation laboratory and analytical facility including pre-clinical and clinical testing, to maximize the efficacy and benefits to the patient.
ABOUT DELIVRA CORP.
Delivra Corp. is a specialty biotechnology company that has a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules, through the skin, in a targeted specific manner. Delivra manufactures and sells a growing line of natural topical creams with the proprietary transdermal delivery system platform under the LivReliefTM brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and under the LivSportTM brand for sports performance. LivReliefTM products are available in pharmacies, grocery chains, and independent health food stores across Canada, and on-line at www.livrelief.com. In parallel with its consumer products business, Delivra also has a mandate to license its patent-pending proprietary transdermal delivery technology platform to pharmaceutical companies globally, for the repurposing of pharmaceutical molecules transdermally to treat a broad range of conditions, along with licensing its over-the-counter products globally. Delivra is headquartered in Hamilton, Ontario and has a research and development laboratory in Charlottetown, PEI.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute “forward-looking statements”, which are not comprised of historical facts. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “intends”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”, and similar expressions. Specifically, forward-looking statements in this news release include, without limitation, statements regarding: the Company’s drug research and development plans; the timing of operations; and estimates of market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of Delivra to differ materially from those anticipated or implied in such forward-looking statements. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management’s expectations. In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting Delivra will continue substantially in the ordinary course and will be favorable to Delivra, that clinical testing results will justify commercialization of the Company’s drug candidates; that Delivra will be able to obtain all requisite regulatory approvals to commercialize its drug candidates, that such approvals will be received on a timely basis, and that Delivra will be able to find suitable partners for development and commercialization of its products and intellectual property on favourable terms. Although these assumptions were considered reasonable by management at the time of preparation, they may prove to be incorrect. Factors that may cause actual results to differ materially from those anticipated by these forward-looking statements include: uncertainties associated with obtaining regulatory approval to perform clinical trials and market products; the need to establish additional corporate collaborations, distribution or licensing arrangements; the ability of the Company to generate sales and profits; the Company’s ability to raise additional capital if and when necessary; intellectual property disputes; increased competition from pharmaceutical and biotechnology companies; changes in equity markets, inflation, and changes in exchange rates; and other factors as described in detail in Delivra’s public filings, all of which may be viewed on SEDAR (www.sedar.com). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, Delivra disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Dr. Joseph Gabriele
Chief Executive Officer
416-238-1414 x 233