Innovation

Nutriband extends credit line to $5m as it aims for FDA approval

Pharma firm led by Gareth Sheridan optimistic it can secure approval in early 2024 for groundbreaking drug patch

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Nutriband, the Irish-founded pharma company listed on the Nasdaq exchange, has expanded its existing credit line facility to $5 million as it seeks to secure Food and Drug Administration (FDA) approval for a groundbreaking product that prevents the misuse of drugs such as fentanyl.

Gareth Sheridan, the company’s chief executive, said the extended credit line meant that Nutriband would not need to dilute its shareholding further prior to securing approval from the FDA.

Company insiders ...