Chronic pain remains one of the defining health challenges of our time. Affecting one in five U.S. adults, it brings a heavy toll on quality of life and has, in part, fueled the opioid epidemic. In response, the demand for safer, innovative pain management solutions has never been greater.
The global market for chronic pain therapeutics is projected to reach unprecedented heights beyond the projected US$63 billion by 2032. Meanwhile, chronic pain is estimated to cost between $560 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 addressing both chronic pain and the opioid crisis with urgency, the latter defined as one of its key initiatives.
For investors, the opportunity is clear, given the confluence of the following:
- Significant and growing demand across different population demographics
- A sizeable target market that is highly competitive and a focus for all major pharmaceutical companies
- A regulatory landscape that seeks to incentivize innovative technologies
- The potential for real impact on people’s lives
All of these factors come together to make chronic pain management a compelling area for investment, poised for innovation and growth therein.
LPT-CBD for Chronic Pain Relief
LPT-CBD is a liposome-based drug product with CBD as its active pharmaceutical ingredient (API). The CBD is produced synthetically to ensure controlled, clean, and reproducible API production.
In this evolving market, liposomal cannabidiol (LPT-CBD) is emerging as an innovative and promising approach to managing chronic pain. Leveraging advanced liposomal technology, LPT-CBD is administered via a monthly injection under the skin delivering a controlled release of synthetic CBD into the bloodstream. This formulation enables blood CBD exposure for 3-4 weeks resulting in high bioavailability and consistent, long-lasting pain relief effect.
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 pioneering this innovation. With a robust patent portfolio and a series of promising pre-clinical 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 both broadening the impact of its innovative pain management drug and setting the stage for a fundamental change in the treatment of chronic pain.
Advancing LPT-CBD in clinical trials
The global pharmaceutical market for pain management is expected to reach $109 billion by 2032 and continues to drive innovative research.
Innocan is positioned at the forefront of this domain and continues to progress aggressively along the regulatory approval path.
In September, Innocan received positive feedback from the FDA following a pre-IND Type B meeting, with the agency supporting LPT-CBD’s submission under the 505(b)(2) pathway. This regulatory path can accelerate approval, leveraging existing pre-clinical data of a listed drug to facilitate a quicker route to clinical studies and commercialization.
“LPT-CBD can contribute to reducing pain as a long-term suggestion,” Iris Bincovich, CEO of Innocan Pharma, said in an interview with The Market Online. “Instead of taking addictive pain management solutions, that can cause side effects, [LPT-CBD] is safe, effective and easy.”
Innocan’s pre-clinical trials continue to confirm LPT-CBD’s efficacy in providing prolonged and controlled synthetic CBD release, offering an effective, non-opioid solution for chronic pain.
“Innocan is fully committed to bringing new opportunities for chronic pain management,” Eyal Kalo, research and development director at Innocan, said in a statement. “The positive FDA feedback is a crucial milestone for us, enabling the advance of LPT-CBD to market and bringing much-needed relief to millions suffering from chronic pain.”
Addressing chronic pain in pets and companion animals
The veterinary pain management market is projected to reach $2.2 billion by 2029, with companion animals comprising approximately 85 per cent of that market. As two out of three U.S. households own a pet, the demand for safe, effective pain management solutions for animals is significant.
Innocan has identified this potential market and is advancing its LPT-CBD pain relief drug in this area. In July, the company announced that the FDA’s Center for Veterinary Medicine (CVM) granted a sponsor fee waiver and assigned an Investigational New Animal Drug (INAD) number for its LPT-CBD product. The INAD designation effectively advances LPT-CBD development as a new veterinary drug.
“The granted INAD will allow us to advance the investigational studies of LPT-CBD and share knowledge to support future discussions with CVM on LPT-CBD’s development plan,” Prof. Chezy Barenholz, chief scientific officer, said in a statement. “Moreover, the fee waiver, granted by CVM, supports our development and pursuit of innovative animal drug products and technology, further validating our approach and potential impact in veterinary medicine.”
Pre-clinical studies have demonstrated LPT-CBD’s potential. Case in point, in one study involving dogs with osteoarthritis, a single subcutaneous injection of liposomal-CBD maintained detectable plasma concentrations for up to six weeks, providing sustained pain relief and improving quality of life.
Additional trials in various animals, including mice, donkeys, and goats, have shown similarly positive results in managing chronic musculoskeletal pain and inflammation of different origins.
The future of chronic pain management and Innocan Pharma
Chronic pain management is poised for transformation, and Innocan Pharma’s LPT-CBD represents a promising, significant step forward. With an expansive target market, positive pre-clinical results, and a well-established regulatory plan, Innocan is positioned to address the needs of both animal and human health.
Looking ahead in the remaining months of 2024 and through 2025, Innocan plans to continue progressing through animal and human drug regulatory pathways and aims to form partnerships for licensing and commercialization with key pharmaceutical leaders in the field.
For investors, Innocan’s forward momentum and potential for substantial impact present a unique window of opportunity in a critical healthcare market.
Join the discussion: Find out what everybody’s saying about this stock on the Innocan Pharma Bullboard investor discussion forum, and check out the rest of Stockhouse’s stock forums and message boards.
This is sponsored content issued on behalf of Innocan Pharma, please see the full disclaimer here.
(Top image: Adobe Stock)
