Irish-owned medtech firm nears acquisition of Pocono Coated Products

NUTRIBAND, the medical technology company founded by Dubliner Gareth Sheridan, has agreed to terms for the acquisition of Pocono Coated Products’ transdermal and health product manufacturing business.

The acquisition of Pocono is also set to include the simultaneous acquisition by the North Carolina-based business of Active Intelligence kinesiology tape. The veteran-owned company has developed a sports tape brand which incorporates “pain-relieving active ingredients”.

Speaking with the Sunday Independent, Sheridan

said terms for the deal had been agreed and that Nutriband, which counts former presidential candidate Sean Gallagher as its president, is working on getting the necessary steps completed to finalise the transaction.

“This is a great development for the company and combining the capabilities at both Pocono and 4P opens up new opportunities,“said Sheridan. “The Active Intelligence kinesiology tape is a product we are also keen to develop further and build the brand.”

According to a statement released by Nutriband, Pocono is to become the manufacturing subsidiary of the company, while 4P Therapeutics will maintain clinical development operations.

Nutriband plans to consolidate capabilities at both facilities so as it can enhance its revenue stream as well as grow its in-house product development, specifically for its main product, an abuse-deterrent technology for opioid-based transdermal medications.

Separate to the proposed acquisition of Pocono, Nutriband also received its notice of allowance for its product Aversa.

The product, which was previously named Defent, includes aversive agents to prevent the abuse and accidental exposure of drugs with abuse potential, such as opioids. Nutriband’s goal is to improve the safety profile of abusable transdermal drugs, specifically the opioid fentanyl, through applying its AVERSA technology and pushing to improve the safety profile of transdermal medications in the opioid space.

A notice of allowance is issued by the US Patent and Trademark Office to indicate that it believes an invention qualifies for a patent. However, the company is not fully protected until it completes the rest of the patent process.

Sheridan said Nutriband was happy that it can now expect its full trademark following this development, as well as the ability to build its brand around the AVERSA name.