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Achieve Life Sciences Announces Agreement with the FreeMind Group to Assist in Securing Non-Dilutive Funding to Evaluate Cytisinicline in Vaping and e-Cigarette Users
SEATTLE and VANCOUVER, British Columbia, Feb. 6, 2020 /PRNewswire/ -- Achieve Life Sciences, Inc. (Nasdaq: ACHV), a clinical-stage pharmaceutical company
About this update from Achieve Life Sciences, Inc.
[{"type":"text","content":"SEATTLE and VANCOUVER, British Columbia, Feb. 6, 2020 /PRNewswire/ -- Achieve Life Sciences, Inc. (Nasdaq: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine addiction, today announced it has retained the FreeMind Group, an international consulting firm dedicated to assisting life science organizations secure non-dilutive funding. \n\n \n \n\n \nAchieve and FreeMind will conduct a strategic assessment of potential non-dilutive funding opportunities from various public and private sources, followed by anticipated grant production and submission, to further the clinical development of cytisinicline in vaping, or e-cigarette, cessation. The use of e-cigarettes or vaping devices can avoid certain chemicals that are associated with cigarette smoking, but may have other associated health and safety issues. The emerging use of e-cigarettes is contributing to the growing population of people who are addicted to nicotine. \n\"Based on FreeMind's proven track record securing over 1.5 billion dollars to date in non-dilutive financing, we are optimistic in their ability to assist Achieve with this critical initiative,\" commented Rick Stewart, Chairman and Chief Executive Officer of Achieve. \"It is estimated that nearly 11 million adults in the U.S. alone are using e-cigarettes, and more than half are under the age of thirty-five. We strongly believe in the potential of cytisinicline, as a treatment for nicotine addiction, to address this emerging epidemic.\" \nAbout Achieve & Cytisinicline Tobacco use is currently the leading cause of preventable death and is responsible for more than eight million deaths annually worldwide1. It is estimated that 28.7% of cancer deaths in the U.S. are attributable to cigarette smoking2. Achieve's focus is to address the global smoking and nicotine addiction health epidemic and through the development and commercialization of cytisinicline. \nCytisinicline is a plant-based alkaloid with a high binding affinity to the nicotinic acetylcholine receptor. It is believed to aid in smoking cessation by interacting with nicotine receptors in the brain by reducing the severity of nicotine withdrawal symptoms and by reducing the reward and satisfaction associated with smoking.\nAs an approved, branded product in...