Nutriband Inc. (OTCQB: NTRB), a Nevada Corporation, announced that it has completed the acquisition of Pocono Coated Product’s Transdermal and Health product manufacturing business effective August 31, 2020.
Pocono Coated Products was established in 2004 with a focus on the manufacturing of custom coated products and providing manufacturing and development services for 3rd party partners. One main area of focus for Pocono is on transdermal and topical product manufacturing,
Based on the Purchase Agreement, the value of the Nutriband common stock and cash used to acquire the business, Pocono’s transdermal manufacturing business is valued at $7.5 million.
Following Nutriband’s 2018 acquisition of 4P Therapeutics, the acquisition of Pocono’s transdermal manufacturing business is a significant step in the development of Nutriband’s growth and capabilities. Nutriband plans to consolidate the capabilities of both acquisitions to expand its business, enhance revenue stream opportunities, and advance in-house product development, specifically Nutriband’s abuse deterrent technology for opioid-based transdermal medications, AVERSA.
The acquisition also includes the simultaneous acquisition by Pocono of Active Intelligence, LLC a veteran-founded company and the manufacturer of Active Intelligence kinesiology tape, a product that provides muscle support combined with soothing ingredients for aches or muscle pain. The product is designed to mimic the skin’s elasticity, so the user still has a full range of motion during its use.
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 Pocono Coated Products
Pocono Coated products specializes in the manufacturing of various products such as tapes, topical patches and health products with a specific focus on coated products, materials and technologies.
The Company’s website is www.poconoctd.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.