Periodic Reporting for period 1 - NANO-GROWTH (An innovative, non-invasive and de-risked system to enable the transdermal delivery of fragile therapeutic compounds for a better management of painful diseases)
Reporting period: 2017-02-01 to 2017-05-31
The global prevalence of pain in adults is around 20% with chronic pain affecting up to 8% of the global population. There is an unmet need for safe, long-term and cost-efficient pain management therapies. In particular diabetes neuropathy pain affects 10% of diabetic patients (over 422 million people globally). Nano-Growth is a new generation drug delivery platform using innovative encapsulation embedded in microneedle patches for transdermal delivery. Our first product Diavepane will be the first truly effective non opioids solution for pain management targeting diabetic neuropathy patients and individuals with chronic pain. The overall objectives of the project comprise the optimization of formulation, industrialization of Diavepane and establishment of the regulatory pathway. On the commercial side we will based our revenue model in 1.) Licensing Diavepane, 2.) Microneedle patch nano-encapsulation services and 3.) Portfolio exploration.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
The main technical milestones achieved include the determination of the nanovesicle specifications, signing of agreements with microneedle production partners, and stablishing preliminary contacts for the definition of regulatory pathway. We carried out a commercial Plan and a Freedom to Operate Analysis. In the former we developed a detailed market analysis, verifying that our target market (diabetic neuropathy pain management ) shows potential for growth- it is expected to reach €5.7B by 2024. Our updated FTO guaranteed that Nano-Growth is freely exploitable. Finally, we prepared a financial plan, in which we reviewed all forecasts, established Cost and pricings: Nano-Growth project will enable us to achieve cumulated profit of €23.9 million by 2025.
Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)
Nano-Growth offers pioneer solution for pain management by integrating three elements: i) a specific biological active compound (anti-NGF for diabetic neuropathy), ii) a functionalized vesicle to protect the active compound and carry it to the site of action and iii) a microneedle patch for quick pain relief. Only in the US over 25 million people suffer from pain. Pain has dramatic effects in patients’ daily life, reducing overall productivity and wellbeing because of fatigue, sleep disturbance, decreased appetite, mood changes, limitation of a person’s movements, and strength. Nano-Growth will contribute to efficiently treat these effects. Also, it will boost the growth of our company, both in economic and headcount terms.