Chronic pain continues to be a significant health challenge, impacting approximately one in five adults in the United States. This issue not only affects the quality of life but has also contributed to the opioid epidemic. As a result, there is a growing demand for safer and more innovative pain management solutions. The global market for chronic pain therapeutics is projected to exceed US$63 billion by 2032, with an annual cost estimated between $560 and $635 billion.
Recognizing the urgency of addressing chronic pain and the opioid crisis, the U.S. Department of Health and Human Services (HHS) and the Food and Drug Administration (FDA) have made it a priority to tackle these issues. This has created an opportunity for investors due to the significant and increasing demand across different demographics, a competitive target market for pharmaceutical companies, a regulatory environment that encourages innovative technologies, and the potential to positively impact people’s lives.
One innovative approach in the field of chronic pain management is liposomal cannabidiol (LPT-CBD). This liposome-based drug product utilizes CBD as its active pharmaceutical ingredient, which is produced synthetically to ensure consistent and controlled production. LPT-CBD, administered through a monthly injection, offers a controlled release of synthetic CBD into the bloodstream, resulting in high bioavailability and long-lasting pain relief effects. As a non-opioid alternative, LPT-CBD presents a safer option for pain management.
Innocan Pharma (CSE:INNO) is at the forefront of developing LPT-CBD, with a strong patent portfolio and promising pre-clinical results. The company aims to address the unmet need for safe and effective pain relief in both human and veterinary markets. By focusing on innovative pain management solutions, Innocan is paving the way for a fundamental change in the treatment of chronic pain.
Innocan Pharma has received positive feedback from the FDA, supporting the regulatory approval of LPT-CBD under the 505(b)(2) pathway. This pathway can expedite the approval process by leveraging existing pre-clinical data. The company’s commitment to advancing LPT-CBD in clinical trials highlights its dedication to providing a non-opioid solution for chronic pain.
Moreover, the veterinary pain management market is also a key focus for Innocan, with the company advancing its LPT-CBD product for animals. By obtaining an Investigational New Animal Drug (INAD) designation from the FDA, Innocan is progressing the development of LPT-CBD as a new veterinary drug, demonstrating its potential in providing safe and effective pain relief for companion animals.
Innocan Pharma’s dedication to innovation and regulatory approval pathways positions it as a key player in the future of chronic pain management. The company’s plans for partnerships in licensing and commercialization signal its commitment to expanding its impact in the healthcare market. For investors, Innocan Pharma presents a unique opportunity to engage in a critical sector with the potential for substantial growth and impact.
