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Nutriband Subsidiary Active Intelligence LLC Registers with FDA as a Medical Device Manufacturer for its AI Kinesiology Tape Product
Class 1 Medical Device Registration Allows Nutriband To Explore New Product Manufacturing Opportunities Through Its Wholly Owned Subsidiary Active
About this update from Nutriband Inc.
[{"type":"text","content":"Class 1 Medical Device Registration Allows Nutriband To Explore New Product Manufacturing Opportunities Through Its Wholly Owned Subsidiary Active Intelligence LLCORLANDO, FL / ACCESSWIRE / May 11, 2022 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical products, today announced its Active Intelligence LLC subsidiary has registered as a Class I medical device manufacturer with the U.S. Food and Drug Administration (FDA) to manufacture and distribute its proprietary AI Tape, to compete in the growing kinesiology tape market.\"The FDA medical device manufacturing registration for Active Intelligence represents a pivotal milestone that paves the way for commercial sales of our AI Tape product in the United States,\" commented Gareth Sheridan, CEO of Nutriband. \"The registration will enable Active Intelligence to manufacture AI Tape under its own brand or through white label agreements with sales and marketing partners as well as explore new opportunities for contract manufacturing in the medical device space. We look forward to providing the market with updates on the progress in the coming months.\"AI Tape is a kinesiology tape that is placed on the skin to support for athletes recovering from sports injuries. Active Intelligence is also developing a line of medicated kinesiology tapes to assist athletes in the recovery process after physical injury. The global sports medicine market exceeded $5 billion in 2021 and is projected to grow at a 6.8% CAGR through 2028, reaching an estimated $8.9 billion, according to data from Statista.About Nutriband Inc.We are primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse deterrent fentanyl patch incorporating our AVERSA™ abuse deterrence technology. AVERSA™ technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.The Company's website is www.nutriband.com. Any material contained in or derived from the Company's websites or any other website is not part of this press release.Forward-Looking StatementsCertain statements contained in this press release, including, without limitation, statements containing the words ‘'believes,'' \"anticipates,\" \"expects\" and words of similar i...