Proposed Transdermal Treatment for Veterans with PTSD a Top Priority of SKVI and Quoin Pharmaceuticals
- Proposed transdermal product will help veterans struggling with PTSD and suicidal thoughts
- Majority of suicides among military veterans are among those 50 and older
- Suicide rate for U.S. women veterans was 2.5 times higher than civilian adult women
- Presidential executive order signed January 9, 2018, focuses on providing mental health care to former service members
Topical and transdermal product development company Skinvisible, Inc. (OTCQB: SKVI
) and its patented Invisicare® technology could provide significant relief to veterans with post-traumatic stress disorder through a proposed transdermal treatment the company expects to develop as it merges with Quoin Pharmaceuticals Ltd. The proposed merger, announced in November 2017 (http://nnw.fm/W1Dp7
), will create a robust product portfolio addressing major unmet medical needs, including the devastating number of veteran suicides that occur daily. The company anticipates that the merger will take place in early 2018.
Skinvisible, through its wholly owned subsidiary Skinvisible Pharmaceuticals, Inc., has already developed, licensed and sold multiple dermatology and health care products, as well as various medical treatments, using its patented Invisicare® technology (http://nnw.fm/7TdgD
). The proposed merger with Quoin Pharmaceuticals would combine Skinvisible’s patented and proven novel drug delivery technologies that enhance the delivery of various active ingredients with Quion’s strong pharmaceutical background in post-surgical pain and promising approach to PTSD treatment.
Quoin’s two lead products are targeting crises that result in the death of almost 120 people in the U.S. every day. Data released September 15, 2017, by the U.S. Department of Veteran Affairs (“VA”) show that the risk for suicide was 22 percent higher among veterans when compared to civilians. Among the 20 suicides per day reported to the VA in 2016, 14 of those veterans were not under VA care, VA Secretary Dr. David J. Shulkin stated in presenting the report (http://nnw.fm/SUpm5
“These findings are deeply concerning, which is why I made suicide prevention my top clinical priority,” Shulkin continued. “This is a national public health issue that requires a concerted, national approach.”
Quoin’s proposed product, QRX002, will be a once-daily transdermal NMDA receptor antagonist for the treatment of suicidal ideation in military veterans with PTSD. About eight million adults are living with PTSD, with anywhere from 11 percent to 20 percent of military veterans experiencing the disorder (http://nnw.fm/n8neT
). Currently, the only approved medical treatments for PTSD are standard anti-depressants, which are either ineffective or act very slowly, resulting in a clear unmet medical need to address this growing crisis. Quoin believes that QRX002 may be a candidate for both orphan drug status and breakthrough therapy designation.
“Skinvisible has done an impressive job developing their technology and building a very robust patent portfolio,” Dr. Michael Myers, chairman and CEO of Quoin Pharmaceuticals, stated in a news release. “The utilization of their unique drug delivery technology could, we believe, enable us to achieve the performance targets of our proposed lead products whilst providing for strong patent protection.”
Highlighting the terrible cost that PTSD delivers to the nation’s veterans and their families, President Donald Trump signed an executive order on January 9, 2018, aimed at reducing veteran suicides (http://nnw.fm/NC4tD
). The mandate, ‘Supporting Our Veterans During Their Transition from Uniformed Service to Civilian Life’, offers more former service members access to mental health care and focuses on those who are soon-to-leave military service, since they have the highest risk for suicide.
For more information, visit the company’s website at www.Skinvisible.com