The biopharmaceutical company announces a co-development agreement for its drug candidate NFL-301, intended to reduce alcohol consumption.
NFL Biosciences takes off on the stock market after a co-development agreement for its drug candidate NFL-301 | Photo credits: NFL Biosciences
With a surge of more than 36% at the best of the morning, the Stock Exchange knows how to welcome the good news announced by NFL Biosciences. The pharmaceutical laboratory has indeed announced a co-development agreement for its drug candidate NFL-301, “ intended to reduce alcohol consumption “. The partnership was signed with Athena Pharmaceutiques, an institute specializing in “ oral drug development and production “.
” The partnership between NFL Biosciences and Athena Pharmaceuticals is to develop NFL-301 at least until the demonstration of its effectiveness against a placebo “, specifies the company in its press release. The two laboratories jointly invest and share future income based on their respective investments “.
A multi-billion dollar market
With 37 million Americans and 80 million Europeans having excessive alcohol consumption at least once a week – from the Centers for Disease Control and Prevention and the Institute of Alcohol Studies – ” reducing alcohol consumption is potentially a multi-billion dollar market with limited competition and unmet needs “.
NFL-301 is a natural drug candidate and is being developed with the goal of reducing alcohol consumption and ” especially episodes of excessive consumption “. To prove its effectiveness, a proof-of-concept clinical trial application could be filed in the United States in 2022 adds the lab.