Chronic pain remains one of the defining health challenges of our time. It affects one in five adults in the United States, taking a huge toll on quality of life and, in part, fueling the opioid epidemic. In response, the demand for safer and more innovative pain management solutions has never been greater.
The global market for chronic pain medicines is projected to reach unprecedented heights, exceeding a projected USD 63 billion by 2032. Meanwhile, the cost of chronic pain is estimated to be between $560 billion and $635 billion annually.
As such, the U.S. Department of Health and Human Services (HHS) and the Food and Drug Administration (FDA) have prioritized urgently addressing both the chronic pain and opioid crises, with the latter defined as one of their key efforts.
The opportunity is clear for investors given the confluence of factors below.
Significant growth in demand across different demographics A large target market that is highly competitive and on which all major pharmaceutical companies are focused A regulatory environment that seeks to encourage innovative technologies A real impact on people's lives Possibility of impact
All these factors combine to make chronic pain management an attractive investment area, poised for innovation and growth.
LPT-CBD for chronic pain relief
LPT-CBD is a liposome-based drug containing CBD as the active pharmaceutical ingredient (API). CBD is produced synthetically to ensure controlled, clean and reproducible API production.
In this evolving market, liposomal cannabidiol (LPT-CBD) has emerged as an innovative and promising approach to managing chronic pain. Utilizing advanced liposome technology, LPT-CBD is administered via monthly subcutaneous injections that deliver a controlled release of synthetic CBD into the bloodstream. This formulation allows for 3-4 weeks of exposure to blood CBD, resulting in high bioavailability and consistent long-term pain relief.
Most importantly, as a non-opioid alternative, this injectable solution reduces the risks associated with traditional pain management therapies, making it a viable option for both human and veterinary applications.
Innocan Pharma (CSE:INNO) is a pioneer in this innovation. With a robust patent portfolio and a series of promising preclinical results, Innocan has developed LPT-CBD to address the unmet need for safe and effective pain relief.
By addressing the needs of both the animal and human health markets, Innocan is expanding the impact of innovative pain management medicines and poised for fundamental changes in the treatment of chronic pain.
LPT-CBD advances in clinical trials
The global pharmaceutical market for pain management is expected to reach $109 billion by 2032, and innovative research continues to be driven.
Innocan is at the forefront of this field and continues to actively progress along the path to regulatory approval.
In September, Innocan received positive feedback from the FDA after a pre-IND Type B meeting, and the FDA supported LPT-CBD's submission under the 505(b)(2) pathway. This regulatory path leverages existing preclinical data for listed drugs to accelerate approval and facilitate a faster route to clinical research and commercialization.
“LPT-CBD can contribute to pain relief as a long-term proposition,” Iris Vinković, CEO of Innocan Pharma, said in an interview with Market Online. “Instead of ingesting addictive pain relief solutions that can cause side effects, (LPT-CBD) is safe, effective and easy.”
Innocan's preclinical studies continue to confirm the efficacy of LPT-CBD's ability to provide long-term, controlled synthetic CBD release, providing an effective non-opioid solution for chronic pain.
“Innocan is committed to bringing new opportunities to chronic pain management,” Eyal Caro, Innocan's director of research and development, said in a statement. “Positive feedback from the FDA is an important milestone for us and allows us to bring LPT-CBD to market, providing much-needed relief to millions of people suffering from chronic pain. ”
Dealing with chronic pain in pets and companion animals
The veterinary pain management market is projected to reach $2.2 billion by 2029, with companion animals accounting for approximately 85% of that market. With two out of three households in the United States owning a pet, there is a huge demand for safe and effective pain management solutions for animals.
Innocan has identified this potential market and is promoting LPT-CBD analgesics in this area. In July, the company announced that the FDA's Center for Veterinary Medicine (CVM) had granted sponsorship fee waivers and assigned an Innovative Animal Drug (INAD) number to the company's LPT-CBD product. The INAD designation effectively promotes the development of LPT-CBD as a new veterinary drug.
“The grant of INAD will enable us to advance clinical research into LPT-CBD and share knowledge to support future discussions with CVM regarding the development plan for LPT-CBD.” '' Chief Scientific Officer Professor Chezy Barenholz said in a statement. “Furthermore, the fee waivers granted by CVM support the development and pursuit of innovative veterinary medicines and technologies, further validating our approach and potential impact in veterinary medicine.”
Preclinical studies have demonstrated the potential of LPT-CBD'. As a case in point, one study in dogs with osteoarthritis showed that a single subcutaneous injection of liposomal CBD maintained detectable plasma levels for up to 6 weeks, providing sustained pain relief and improving daily life. The quality has improved.
Additional studies in a variety of animals, including mice, donkeys, and goats, have shown similarly positive results in the management of chronic musculoskeletal pain and inflammation from a variety of causes.
Chronic pain management and the future of Innocan Pharma
Chronic pain management is poised for transformation, and Innocan Pharma's LPT-CBD represents a promising and important step forward. With a broad target market, positive preclinical results, and an established regulatory plan, Innocan is well positioned to address both animal and human health needs.
Looking ahead to the remaining months of 2024 and 2025, Innocan plans to continue advancing its animal and human drug regulatory pathways, partnering with key pharmaceutical leaders in the field for licensing and commercialization. We aim to form partnerships for.
For investors, Innocan's forward momentum and potential for significant impact provides a unique opportunity in an important healthcare market.
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This is sponsored content published on behalf of Innocan Pharma. See the full disclaimer here.
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