Companies like Tilray Inc. TLRY and Cara Therapeutics Inc. CARA have produced, patented and marketed cannabis for medicinal purposes for years, but the market has become increasingly competitive — especially as big pharmaceutical companies gain traction. Pfizer Inc. PFE Merck & Co. Inc. MRK and Sanofi SA SNY all hold cannabis patents in the U.S. and Canada.
Jupiter Wellness Inc. JUPW is a company that develops pharmaceutical cannabidiols (CBD for short) for skincare products and says it plans to compete with the cannabis industry’s big players with a goal of leading the pack.
The company has recently made strategic acquisitions, including that of Applied Biology, a pharmaceutical company specializing in treating hair and skin conditions.
Applied Biology develops breakthrough drugs and medical devices to treat skin and hair disorders. It also provides clinical research, intellectual property (IP) development and regulatory services to companies worldwide.
It holds the exclusive license for the Photocil™ psoriasis treatment in the U.S. and serves as the clinical research organization for several of Jupiter’s proprietary cannabidiol dermatological treatment candidates.
What Does Applied Biology Bring To The Table?
Jupiter reports that Applied Biology has several patents and 35 more pending.
It also has five regulatory filings with the U.S. Food and Drug Administration (FDA) and 12 with the European Medicines Agency (EMA).
It has conducted 35 clinical trials and has over 1,000 scientific publications and lectures to its name worldwide.
“This is a highly synergistic acquisition that we believe leverages Jupiter’s current clinical development pipeline, adds tremendous clinical, IP and regulatory expertise, access to patients and positions us with meaningful growing revenues and EBITDA,” Jupiter CEO Brian John said.
Jupiter expects Applied Biology’s financial performance to immediately contribute to Jupiter’s 2022 revenues.
The company believes the merger will result in the acceleration and expansion of its own drug development pipeline to 15 drugs in various stages of clinical and preclinical development. Applied Biology’s portfolio includes seven alopecia treatment candidates and two in psoriasis and women’s health.
Jupiter says it plans to capitalize on the expertise brought by Applied Biology’s President and Chief Medical Officer Andy Goren, the company’s management team and its medical board in every stage of its business from concept through clinical development and commercialization.
Applied Biology says Photocil™ is a “novel patented topical cream that provides clinically proven relief for psoriasis, vitiligo, pruritus and atopic dermatitis.” Photocil™ is sold in Europe, Asia and the Middle East. Jupiter, which has the U.S. rights, is approved to launch the drug in the States.
The company’s minoxidil booster is a patented revolutionary hair product. Minoxidil (Rogaine name brand) is only effective in hair growth in less than approximately 40% of people who use it. Applied Biology developed a minoxidil booster that addresses the non-responders to minoxidil. There is a huge unmet need with no current solution. Recently, Taisho Pharmaceuticals (Japan’s Rogaine licensee) entered into an agreement with Applied Biology for the booster.
Jupiter states that it sees Applied Biology as a key strategic asset that will position it to play a leading role in the industry.
To learn more about Jupiter Wellness, visit www.jupiterwellness.com.
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