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Nutra Pharma Subsidiary, ReceptoPharm, Files Patent Application for the Oral Delivery of Cobra Venom for the Treatment of Pain
Thursday, August 13, 2009
In Preparation for Entering the Analgesic Market, ReceptoPharm Has Filed a Patent Application for a New Oral Formulation of Cobra Venom and a New Method for Oral Delivery of Cobra Venom Aimed at Treating Pain
Boca Raton, FL -- Nutra Pharma Corp. (OTCBB: NPHC), a biotechnology company that is developing treatments for Adrenomyeloneuropathy (AMN), HIV and Multiple Sclerosis (MS), has announced today that its wholly-owned drug discovery subsidiary, ReceptoPharm, has filed a patent for a novel composition and method for oral delivery of cobra venom for the treatment of pain.
"While the clinical use of cobra venom for treating pain has been well documented for the past 75 years, our recent research using one of our lead drug candidates, RPI-78, as an analgesic has allowed us to perfect a novel oral formulation and oral delivery method using cobra venom as a pain reliever," commented Dr. Paul Reid, CEO of ReceptoPharm. "With our in-depth knowledge of cobra venom and our comprehensive clinical data using cobra venom as an analgesic, we believe that filing this patent is one of the final required steps before introducing a new type of pain reliever developed from cobra venom for treating moderate to severe pain," he added.
Pain is the single most common reason patients seek medical care and accounts for half of all physician office visits in the United States. According to the American Pain Foundation, each year, more than 25 million people in the United States experience acute pain as a result of injury or surgery. Additionally, more than 50 million people in the United States are affected by ongoing chronic pain.
"Filing this patent application provides ReceptoPharm with the opportunity to immediately commercialize a revolutionary new analgesic that we believe will compete effectively with current pain relievers, including those that contain opioids and acetaminophen, but without the negative side effects," explained Rik J Deitsch, Chairman and CEO of Nutra Pharma. "We plan to release additional details as we move these products closer to market," he concluded.
In June, ReceptoPharm announced the completion of a clinical study that examined its leading drug candidate for the treatment of pain, RPI-78. The study showed that the pain reducing effects of RPI-78 lasted four-times as long as morphine and without the negative side effects associated with opioid-based pain relievers.
About Nutra Pharma Corp.
Nutra Pharma Corp. is a biopharmaceutical company specializing in the acquisition, licensing and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune and infectious diseases. Nutra Pharma Corp. through its subsidiaries carries out basic drug discovery research and clinical development and also seeks strategic licensing partnerships to reduce the risks associated with the drug development process. The Company's subsidiary, ReceptoPharm, Inc., is developing these technologies for the production of drugs for HIV and Multiple Sclerosis ("MS"). The Company's subsidiary, Designer Diagnostics, is engaged in the research and development of diagnostic test kits designed to be used for the rapid identification of infectious diseases such as Paratuberculosis (para-TB) and Mycobacterium avium-intracellulare (MAI). Nutra Pharma continues to identify and acquire intellectual property and companies in the biotechnology arena.
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Nutra Pharma's ("the Company") business plan. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). ReceptoPharm’s patent filing for a novel composition and method for oral delivery of cobra venom should not be construed as an indication in any way whatsoever of the value of the Company or its common stock. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
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