Today’s sharp increase in the price of Anew Medical, Inc.’s (NASDAQ: WENA) shares reflected investor excitement following the company’s announcement of a new license agreement. As of the most recent check, the company’s shares were trading at $1.19, a noteworthy rise of 15.52%.
Breakthrough in Needle-Free Drug Delivery
The rise in Anew Medical’s stock value followed the announcement of an exclusive worldwide license agreement with Transfertech Sherbrooke (TTS). The focal point of the deal is Nanoject, an innovative needleless autoinjector that uses freeze-dried nanopowder to administer medications and vaccinations.
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An important development in treating common problems like needle phobia and injection-related anxiety, which affect both adults and children, is Nanoject. These anxieties often hinder adherence to necessary medical protocols.
While alternatives like creams, patches, and inhalers have been introduced, they often come with limitations, particularly in cost and formulation for topical applications. The Nanoject device leverages a patented technology that utilizes pressure-driven flow generated by a miniature shock tube.
This innovative mechanism propels nano-sized or micron-sized particles of medicine at an impressive speed of 600 meters per second into the skin, enabling effective intradermal and subcutaneous tissue delivery.
Strategic Focus on Revenue-Generating Innovations
Anew Medical remains committed to exploring opportunities that can generate near-term revenue, while also applying its expertise to the development of novel, patented technologies in the medical field.
The company’s ongoing efforts include the advancement of its early-stage human Klotho gene therapy program. However, recognizing the importance of more immediate revenue streams, Anew Medical has strategically sought out assets like Nanoject that offer quicker market potential.
The Nanoject injector, protected by a robust patent portfolio, is poised to revolutionize drug delivery. It offers numerous advantages over traditional liquid drug solutions, including improved storage stability, enhanced long-term efficacy, and innovative programmed time-release formulations.
Anew Medical plans to offer Nanoject in both a single-use disposable format and a reusable, multi-dose device, catering to diverse clinical needs. Collaborators from TTS and the Université de Sherbrooke contribute decades of expertise and a strong patent portfolio, ensuring competitive protection for this groundbreaking technology.
