Digital Asset DirectEmpower Clinics Inc.
Contact Details Proactive Proactive Studio +1 604-688-8158 action@proactiveinvestors.com Company Website https://www.proactiveinvestors.ca
November 15, 2022 11:35 AM Eastern Standard Time
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News ReleaseSciSparc Ltd.
Learn More about SciSparc Ltd. by gaining access to the latest research report There is a high probability that you may know someone battling some form of addiction. Whether it’s a problem with opioids, alcohol, cocaine, or even using pain meds, an unchecked addiction can be fatal. Addiction, or substance use disorder (SUD), can be a chronic mental health condition that demands urgent attention before it gets out of hand. Take alcohol abuse, for example; the World Health Organization (WHO) estimates that three million deaths yearly result from the harmful use of alcohol. This represents 5.3% of all deaths. Overall, 5.1% of the global burden of disease and injury is attributable to alcohol, as measured in disability-adjusted life years (DALYs). Looking at the overall drug abuse and addiction globally, around 275 million people used drugs worldwide in 2020, while over 36 million people suffered from drug use disorders, according to the 2021 World Drug Report by the United Nations Office on Drugs and Crime (UNODC). Zooming into the U.S., the National Center for Drug Abuse Statistics (NCDAS) estimates that nearly half of all people 12 and older in the U.S. have used an illicit substance at least once. Since 2000, almost one million people have died of a drug overdose. These staggering statistics call for effective therapies and treatment centers to help curb the trend, especially as there are indications that the number of drug users worldwide is likely to climb up to 11% by 2030. Rising awareness about the adverse effects of alcohol and substance abuse, the introduction of new therapies, and increasing rehabilitation centers are expected to fuel the growth of the global substance abuse treatment market. The global substance abuse treatment market was valued at $10.2 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2031. The market is anticipated to cross $23.1 billion by 2031. Pharmaceutical companies like Amphastar Pharmaceuticals Inc. (NASDAQ: AMPH), Viatris Inc. (NASDAQ: VTRS), SciSparc Ltd. (NASDAQ: SPRC), and BioCorRx Inc. (OTCMKTS: BICX) are advancing research and therapies aimed at serving the needs of the market. SciSparc is a specialty clinical-stage pharmaceutical company focused on developing therapies to treat CNS disorders from a portfolio of technologies and assets based on cannabinoid pharmaceuticals. The company is engaged in drug development programs based on tetrahydrocannabinol (THC) and nonpsychoactive cannabidiol (CBD). The company’s pipeline of product candidates includes SCI-110 for treating Tourette syndrome, Alzheimer’s disease and agitation; SCI-160 for treating pain; and SCI-210 for treating autism spectrum disorder and status epilepticus. It also has CannAmide™, an immediate unique palmitoylethanolamide (PEA) oral formulation for reducing chronic pain and inflammation. Positive Results For Psychedelic Combination Treatment In May this year, SciSparc announced positive efficacy and safety profile results from its joint preclinical trial with Clearmind Medicine Inc. (NASDAQ:CMND,CSE: CMND)), a psychedelic pharmaceutical company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems. The trial tested the proprietary combination of SciSparc’s CannAmide™ with Clearmind’s psychedelic molecule5-Methoxy-2aminoindane ( MEAI ) for suppressing alcohol use disorder. A histopathology assessment was conducted on several organs (heart, lungs, liver, kidneys, brain, pancreas, spleen and thyroid gland) from all experiment groups to determine the safety of the proprietary combination of MEAI and CannAmide™ versus control mice that were not exposed to alcohol. Previously announced successful results showed a significant dose-dependent effect for the MEAI treatment in reducing alcohol consumption in treated animals, with substantial additional effect when combining CannAmide™ with the lower sub-effective MEAI dose. On Aug. 24, the company announced additional positive preclinical results of its psychedelic-based pharma collaboration for treating cocaine addiction using MEAI. These preclinical study results add to the company’s collaboration with Clearmind for its combination treatment for various addictions, including preclinical studies results and filing two provisional patent applications related to compositions comprising MEAI and n-acylethanolamines, their use and treating cocaine addiction. Gal Yadid and his team from the Gonda Multidisciplinary Brain Research Center at Bar Ilan University in Israel led a preclinical trial designed to evaluate the possible reward-like effects of MEAI in connection to cocaine and its ability to abolish cocaine- induced conditioned place preference. The self-administration paradigm, the gold-standard model for examining drug addiction, was used in the preclinical trial. Rats were catheterized and trained to self-administer cocaine. The results identified a statistically significant sub-group that responded dramatically to the treatment, significantly decreasing the craving for cocaine compared to a nontreated control group. Follow the story at SciSparc’s website here. SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. SciSparc's focus is on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following drug development programs based on THC and/or non-psychoactive cannabidiol (CBD): SCI-110 for the treatment of Tourette Syndrome, for the treatment of Alzheimer's disease and agitation; SCI-160 for the treatment of pain; and SCI-210 for the treatment of autism spectrum disorder and status epilepticus. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details TraDigital IR- Christine Petraglia christine@tradigitalir.com Company Website https://scisparc.com/
November 15, 2022 10:25 AM Eastern Standard Time
Digital Asset DirectOxford Cannabinoid Technologies Holdings PLC
Contact Details Proactive Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 15, 2022 10:22 AM Eastern Standard Time
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News ReleaseAgile Therapeutics, Inc.
Agile Therapeutics Inc. (NASDAQ: AGRX) is on a journey to fulfill the unmet health needs of women with products designed to provide them with contraceptive options. The company’s product and product candidates are designed to provide women with contraceptive options that offer freedom from taking a daily pill without committing to a longer-acting method. Twirla® Agile ’s initial product Twirla® (levonorgestrel and ethinyl estradiol) transdermal system, is a nondaily prescription contraceptive based on the company’s proprietary transdermal patch technology called Skinfusion®, which is designed to allow drug delivery through the skin. The Twirla transdermal system is a once-weekly combined hormonal contraceptive (CHC) patch that contains the active ingredients levonorgestrel (LNG), a type of progestin, and ethinyl estradiol (EE), a type of estrogen. The patch is used as a contraceptive by women with a body mass index (BMI) less than 30 kilograms per meter (kg/m2) for whom a combined hormonal contraceptive is appropriate. It is less effective in women with a BMI of 25 or more. Q3 Financial Results And Corporate Update On Nov. 7, Agile released financial results for the three months that ended Sept. 30 and provided a corporate update. Financial Results Highlights: Net revenue: Twirla delivered $3.0 million in net revenue for the third quarter of 2022. This was an increase of 43% from the second quarter of 2022 – the largest quarter-over-quarter increase the Company has achieved. Cost of product revenue: Cost of product revenue totaled $1.4 million and consisted of direct and indirect costs related to the manufacturing of Twirla® sold, compared to $2.7 million for the third quarter of 2021 – a decrease of 47%. The decrease reflects the elimination of an inventory obsolescence reserve, which the company established in the third quarter of 2021. Total generally accepted accounting principles (GAAP) operating expenses: Total GAAP operating expenses were $20.3 million for the quarter that ended Sept. 30, compared to $14.4 million for the comparable period in 2021 — an increase of 41%. The GAAP operating expenses for the third quarter of 2022 represent an increase of 80% from the $11.3 million of GAAP operating expenses reported for the second quarter of 2022. Total non-GAAP operating expenses: Total non-GAAP operational expenditures were $9.2 million for the quarter that ended Sept. 30, compared to $14.4 million for the comparable period in 2021 — a decrease of 36%. The non-GAAP operating expenses for the third quarter decreased 19% from the $11.3 million non-GAAP operating expenses reported for the second quarter of 2022. The company had a one-time, non-cash charge associated with the transfer of equipment to Corium in the third quarter and believes the non-GAAP operating expense, which excludes this charge from GAAP operating expenses, presents a more useful comparison of the results from its operations because prior periods did not include a similar charge. The company provided a reconciliation of its GAAP operating expenses versus non-GAAP operating expenses in its press release. Cash: As of Sept. 30, the company had $6.1 million of cash, compared to $13 million of cash and cash equivalents as of the end of the second quarter of 2022. Net loss: Net loss was $19.7 million, or 53 cents per share for the quarter that ended Sept. 30, compared to a net loss of $16.8 million, or $7.20 per share, for the comparable period in 2021. The company incurred a one-time, noncash operating expense charge of $11.1 million in the third quarter of 2022 related to the transfer of equipment ownership to Corium Inc., which is reflected in the net loss for the third quarter of 2022. Shares outstanding: As of Sept. 30, Agile had 39,026,823 shares issued and 36,997,836 weighted average shares of common stock outstanding. Key Contributors To Future Growth Although the company reported a net loss for the quarter due to reasons that included extraordinary ones, it says it has an effective business plan in place and is tracking towards its goal of generating positive cash flow. An important contributor to the company’s third-quarter growth was its partnership with Afaxys Inc., which drove volume in the nonretail channel. In the second quarter of 2022, 1,404 nonretail cycles of Twirla®were purchased, and that number surged 361% in the third quarter to 6,479 nonretail cycles. “This growth is the product of the efforts being made by Afaxys to penetrate the Planned Parenthood network. In the third quarter, we began to see the conversion of Planned Parenthood accounts in California, which drove significant sales and growth for the quarter. We believe this represents a sustainable customer base for future periods,” Agile Therapeutics Chief Commercial Officer Amy Welsh said. She added that by focusing on five key states — California, Texas, Florida, Illinois, and New York — “It is estimated that we can reach 45% of U.S. women between the ages of 18 and 24. In the future, we expect the retail channel to continue to grow.” Additionally, Agile plans to launch its collaboration with female telehealth leader Nurx in the fourth quarter of 2022 and expects the collaboration to begin to contribute to retail channel growth in 2023. Nurx is a leader in female-focused digital healthcare amongst the Twirla target audience and offers patients access to its telehealth platform and expert medical providers that have prescribed contraception to more than 1 million patients Generating Positive Cash Flow In an industry with players like Dare Bioscience Inc. (NASDAQ: DARE) and Hologic Inc. (NASDAQ: HOLX), Agile is exploring business development opportunities that could potentially accelerate the timeline for generating positive cash flow. “Our stated plan has been to effectively manage expenses while continuing to grow Twirla® sales and demand. This is the third consecutive quarter we have increased Twirla® sales and demand while simultaneously decreasing company operating expenses, excluding the noncash, one-time charge incurred this quarter,” Chairman and CEO and Director of Agile Therapeutics Chairman and CEO Alfred Altomari said. “We are working — and have been working — to identify and implement strategies and exploit opportunities that will contribute to further growth,” he added. If Agile maintains its quarterly revenue growth rate and operating expenses consistent with the past two quarters, the company could potentially begin to generate positive cash flow at the end of 2023. The addition of a business development opportunity or partnership could potentially accelerate that timeline. Agile Therapeutics is a women's healthcare company dedicated to fulfilling the unmet health needs of today’s women. Our product and product candidates are designed to provide women with contraceptive options that offer freedom from taking a daily pill, without committing to a longer-acting method. Our initial product, Twirla®, (levonorgestrel and ethinyl estradiol), a transdermal system, is a non-daily prescription contraceptive. Twirla is based on our proprietary transdermal patch technology, called Skinfusion®, which is designed to allow drug delivery through the skin. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Matt Riley - Head of Investor Relations & Corporate Communications mriley@agiletherapeutics.com Company Website https://agiletherapeutics.com/
November 15, 2022 08:15 AM Eastern Standard Time
Digital Asset DirectArecor Therapeutics PLC
Contact Details Proactive Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com
November 15, 2022 07:43 AM Eastern Standard Time
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News ReleaseThe Chicago School of Professional Psychology
The Chicago School of Professional Psychology recently named three outstanding business, professional, and community leaders to its Board of Trustees. They join the existing 12-member board of the 43-year-old non-profit educational institution, which serves 6,000 students on seven campuses nationwide. “We are pleased to have such distinguished leaders join our board” said Dr. Michele Nealon, Psy.D., President of The Chicago School of Professional Psychology. “These individuals have the skills and background to help us meet the challenges of preparing future mental health professionals, especially those interested in working in underserved communities.” Sian Seligman of Los Angeles is the Chief Marketing Officer for Resonate Blends, a cannabis holding company and innovation lab that develops cannabis wellness products under the brand Koan. She worked for two decades as a brand marketing and consumer strategist for Fortune 500 companies, gaining a deep understanding of the buying habits and psycho-social motivations of the American consumer. In 2020, Seligman became the youngest person and first Asian American female to head the Board of Governors at the City Club Los Angeles, where she managed a major reorganization while retaining 85 percent of club membership in the midst of forced closure due to the pandemic. Seligman holds an MS in Herbal Medicine from the American College of Healthcare Sciences and a BS in Business Administration from Cal Poly Pomona. ______________________________________________________________________________ Eloisa Perard of Los Angeles is CEO & President of QueensCare Health Centers (QHC), a non-profit, Federally Qualified Community Health Center organization, with five health centers in underserved neighborhoods of Los Angeles. “I look forward to adding my expertise to the board in generational trends and insights,” she said. “My goal is to bring diverse and innovative thinking about the future of higher learning, particularly mental wellness education.” Perard has also held executive positions in education and manufacturing since earning an MS in Organizational Psychology and a BS in Organizational Management from the University of La Verne. Perard serves as Treasurer on the Board of Directors of Community Clinics Association of Los Angeles County (CCALAC), a non-profit network that advocates for expanding access to health care for the medically underserved people in Los Angeles County. She also serves on the Board of Directors of Health Care L.A. (HCLA), an Independent Physician Association (IPA). Dina Torrisi Martin of Chicago is General Counsel of the Illinois Department of Financial and Professional Regulation, where she heads the Office of Legal Affairs. As counsel to the Secretary, Division Directors, and executive staff of this agency, she oversees litigation and administrative hearing decisions, and formulates policy decisions. “As the pandemic surely highlighted, mental well-being is an imperative,” said Martin. “I am honored to become a trustee and look forward to working with the growing Chicago School community.” She is a former partner and head of medical malpractice at Hughes Socol Piers Resnick & Dym, Ltd., where she represented hospitals and health professionals before regulatory agencies. Torrisi Martin is an elected member of the American Board of Trial Advocates, the Society of Trial Lawyers, and other professional organizations. She earned a JD from the University of Illinois Chicago School of Law and a BA in Political Science from the University of Illinois Urbana-Champaign. # About The Chicago School of Professional Psychology: Integrating theory with hands-on experience, The Chicago School of Professional Psychology provides education rooted in a commitment to innovation, service, and community for thousands of diverse students across the United States and globally. Founded in 1979, the nonprofit, regionally accredited university now features campuses in iconic locations across the country (Chicago, Southern California, Washington, D.C., New Orleans, Dallas) and online. To spark positive change in the world where it matters most, The Chicago School has continued to expand its educational offerings beyond the field of psychology to offer more than 30 degrees and certificates in the professional fields of health services, education, counseling, business, and more. Through its engaged professional model of education, commitment to diversity and inclusion, and an extensive network of domestic and international professional partnerships, The Chicago School’s students receive real-world training opportunities that reflect their future careers. The Chicago School is proud to be a part of TCS Education System, a nonprofit, integrated system of colleges and universities that works collaboratively to advance student success and community impact. To learn more, visit www.thechicagoschool.edu. Contact Details Vivien Hao +1 323-893-4743 vhao@thechicagoschool.edu
November 14, 2022 11:00 AM Pacific Standard Time
News ReleaseAccelmed PR and SKNV
Accelmed Partners (“Accelmed”), a private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies, today announced that it concluded a $35 million investment in SKNV Inc. a full continuum-of-care dermatology digital health company for in-practice dispensing and ecommerce of customized prescriptions and skincare. Lake Street Capital served as sole financial advisor on the transaction Founded in 2016 by Dr. Spencer Malkin, SKNV is the market leader and FDA-Registered 503B Outsourcing Facility for customized medications dispensed directly from dermatology practices. With customized medicines making a clinical difference across the 12 most common dermatological diagnoses, SKNV enables doctors to determine the prescription potency and active ingredient customization needed for targeted results to their individual patients. By offering dermatology practices a complete system that includes customized medications and the proprietary technology platform required for compliant dispensing and patient management, SKNV is uniquely positioned to meet the needs of both modern practice operations and precision patient care. The Company’s digital health platform allows local practices to focus on optimized daily care, while providing 24/7 tools to improve drug adherence, refill automation, and telehealth options for patients. Dr. Uri Geiger, Managing Partner of Accelmed, said, “SKNV has developed a best-in-class customized digitally driven medication system that puts the power of prescriptions back in the hands of doctors and patients. For too long, middlemen players have driven up the cost and complexity of prescription medicine, often inserting their power to deny or change the prescription that doctors order for patients in their care. SKNV is changing that power dynamic by giving dermatology practices and their patients the autonomy to make the right decisions for their unique prescription needs. With their unmatched level of targeted Rx care and digital health convenience combined with a wallet-friendly price, SKNV's customized medications are the affordable, best choice for dermatology patients. What makes this even more impressive is how SKNV is helping reaffirm and redefine the lead role of the local practice and prescribing doctor in the future of digital-enabled healthcare. We are excited to partner with Spencer and the entire SKNV team to further expand the Company’s geographic footprint, operational capabilities, and digital health technologies to serve more customers across the United States.” Proceeds from the investment round will be used to help SKNV advance its new, state-of-the-art manufacturing facility in Florida, scale its proprietary digital health platform, increase its sales team footprint across the U.S., and expand its management team with strategic hires. Dr. Spencer Malkin, Founder and CEO of SKNV, added, “We are partnering with Accelmed because they share in our vision for a dermatology ecosystem that connects local practices and customized medicine with the latest in digital health technologies to drive patient care compliance and prescription drug adherence. The real future of healthcare combines digital and local care to improve patient outcomes. As others continue their pursuits to displace dermatology practices, SKNV empowers community doctors with the advanced, customized solutions that modern patients seek without losing the personal care from local providers they trust. Accelmed’s operational expertise and industry-wide connections are key to expediting our growth from an innovative market leader in customized medicine to the new pharma standard for dermatology.” About Accelmed Partners Accelmed is a U.S.-based private equity firm focused on acquiring and investing in U.S. commercial stage, lower middle market HealthTech companies. Since 2009, Accelmed has deployed over half a billion dollars into companies spanning medical devices, diagnostics, digital health and technology-enabled healthcare services. Accelmed seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team’s industry experience, operational and financial expertise, and strong global relationships. For more information, please visit www.accelmed.com. About SKNV Inc. SKNV is a pioneer in customized medications and skincare solutions for leading dermatology practices across the United States. Combining a fully integrated, in-office dispensing solution for local doctors with a digital health ecommerce platform for monthly patient refills, SKNV places the power to determine and fully manage customized prescription care paths back in the hands of local providers. The SKNV Customized Dermatology System delivers targeted results and repeat purchases through tailored regimens in preventative, curative, and maintenance skin care. More information is available at www.sknv.com. Contact Details Amanda Klein/Alex Jeffrey Gasthalter & Co. +1 212-257-4170 Accelmed@gasthalter.com Company Website https://www.accelmed.com
November 14, 2022 12:58 PM Eastern Standard Time
Digital Asset DirectNews Media Group, Inc.
Contact Details Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/
November 14, 2022 11:30 AM Eastern Standard Time
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News ReleaseInspirant Group
Inspirant Group, the award-winning disruptive management Consulting firm, has appointed Ryan VanDePutte as Sales Director. With a multi disciplinary background, VanDePutte has deep experience in project delivery, enterprise, and mid-market sales, assisting companies in simplifying their unique business and technology challenges. In his new role, VanDePutte will drive transformation initiatives and business development for the fast-growing Chicagoland company. “We’re thrilled to welcome Ryan to our team of Unconsultants. It is the exact right time to have his leadership and expertise at this stage of Inspirant Group ’s growth as we continue to expand our service offerings,” said Meighan Newhouse, Co Founder and CEO, Inspirant Group. “I’m delighted to join Inspirant Group and the talented team of Unconsultants in developing the Appian practice area,” VanDePutte shared. “This will allow us to draw upon the team’s collective knowledge base and experience in delivering best in class transformation initiatives to our clients.” VanDePutte holds a Bachelor of Science degree in operations management and information systems from Ball State University - Miller School of Business. He resides in the Chicagoland area with his wife and three children. Founded in 2017, Inspirant Group is the award-winning, remote-first management “UNconsulting” firm that takes companies from inspiration to transformation. By stripping away the bureaucracy and complexity associated with the traditional “big 4” and mid-tier consulting firms, Inspirant ’s team of UNconsultants delivers high touch service and advises clients in three service lines: strategy & operational agility, talent & organization, and technology & data. This mirrors the company’s approach to any engagement: optimize processes, ensure the right people are in the right seats, and make the tech and data work for the client (and not the other way around). Headquartered in Chicago, Illinois, Inspirant is Certified™ by Great Place to Work ®, the employee experience award, and was honored with two 2022 Built In awards including Best Remote-First Places to Work in the US and 22 StartUps to Watch in Chicago. For more information, visit: Inspirantgrp.com and follow us on LinkedIn. Contact Details Julie Livingston +1 347-239-0249 julie@wantleverage.com Company Website https://inspirantgrp.com
November 14, 2022 09:30 AM Central Standard Time
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