Adamis Pharmaceuticals Corporation (NASDAQ: ADMP), a
commercial-stage biopharmaceutical company, today announced that
its wholly owned subsidiary DMK Pharmaceuticals Corporation was the
recipient of a grant from the National Institute on Alcohol Abuse
And Alcoholism (NIAAA) of the National Institutes of Health (NIH)
to support the development of a novel bifunctional small molecule
for the treatment of Alcohol Use Disorder (AUD) (#R41AA030226).
Different types of drug addiction fall under the umbrella term
of substance use disorders or SUD. Physicians have a better
understanding of SUD and given recent research findings we now know
that these conditions are treatable with effective medical
interventions.1
“Our mission at Adamis Pharmaceuticals is to become the market
leader on interventions for substance use disorders,” said Eboo
Versi, MD, PhD, newly appointed CEO of Adamis Pharmaceuticals. “We
already have an approved product (ZIMHI) and a clinical stage
product candidate (DPI-125) for addressing the opioid crisis, but
we also want to expand our development portfolio to include other
SUD treatments in areas of high unmet need such as AUD. We had
previously stated our goal was to continue getting non-dilutive
funding from the government and this funding from NIAAA clearly
helps to further this goal. The aim of this funded early-stage
project is to use gold-standard preclinical assays to vet Adamis’
newly acquired molecules that possess the bi-functional attributes
hypothesized to reduce excessive alcohol use. Given our library of
about 750 novel small molecules, we have the ability to investigate
several drug candidates to identify the best one to progress into
clinical development.”
Like the opioid crisis, the national impact of alcohol use
disorder continues to worsen. The pre-pandemic estimate of the cost
of excessive alcohol use to the U.S. economy was $250 billion a
year2; the social isolation and strain of the pandemic has
exacerbated the severity of this problem. AUD affected 29.5 million
Americans over the age of 12 in 20213 and co-use of alcohol
continues to be associated with opioid overdose deaths. Adamis
recognizes the urgent, unmet need to address the paucity of
therapeutic options for patients dealing with AUD.
About the National Institute on Alcohol Abuse and
Alcoholism (NIAAA)
NIAAA is one of the 27 Institutes at the National Institutes of
Health (NIH), the nation's medical research agency. It conducts and
funds research on the impact of alcohol use on human health and
well-being. NIAAA's mission is to generate and disseminate
fundamental knowledge about the effects of alcohol on health and
well-being, and apply that knowledge to improve diagnosis,
prevention, and treatment of alcohol-related problems, including
alcohol use disorder, across the lifespan.
About Adamis Pharmaceuticals
Adamis Pharmaceuticals Corporation is a commercial stage
neuro-biotech company primarily focused on developing and
commercializing products for the treatment of opioid overdose and
substance use disorders. Adamis’ commercial products approved by
the FDA include ZIMHI® (naloxone) Injection for the treatment
of opioid overdose, and SYMJEPI® (epinephrine) Injection for
use in the emergency treatment of acute allergic reactions,
including anaphylaxis. As a result of its recent merger transaction
with DMK Pharmaceuticals, the Company is now focused on developing
novel therapies for opioid use disorder (OUD) and other important
neuro-based conditions where patients are currently underserved.
The Company believes its technologies are at the forefront of
endorphin-inspired drug design with its mono, bi- and
tri-functional small molecules that simultaneously modulate
critical networks in the nervous system. Adamis has a library of
approximately 750 small molecule neuropeptide analogues and a
differentiated pipeline that could address unmet medical needs by
taking the novel approach to integrate with the body’s own efforts
to regain balance of disrupted physiology. The Company’s lead
clinical stage product candidate, DPI-125, is being studied as a
potential novel treatment for OUD. Adamis also plans to develop the
compound for the treatment of moderate to severe pain. The
Company’s other development stage product candidates include
DPI-221 for bladder control problems and DPI-289 for severe end
stage Parkinson’s disease. For additional information about Adamis
Pharmaceuticals, please visit our website and follow us
on Twitter and LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are identified by terminology such
as “may,” “should,” “expects,” “plans,” “anticipates,” “could,”
“intends,” “target,” “projects,” “contemplates,” “believes,”
“estimates,” “predicts,” “potential” or “continue” or the negative
of these terms or other similar words. Such forward-looking
statements include those that express plans, anticipation, intent,
contingencies, goals, targets or future development and/or
otherwise are not statements of historical fact. These statements
relate to anticipated future events or future results of
operations, including, but not limited to, statements concerning
the availability of government or non-governmental funding to
support the company’s research and development programs and whether
DPI-125, DPI-221, or DPI-289 or any other of the company’s product
candidates will be successfully developed or commercialized. These
statements are only predictions and involve known and unknown
risks, uncertainties, and other factors, which may cause Adamis’
actual results to be materially different from the results
anticipated by such forward-looking statements. Accordingly, you
should not rely upon forward-looking statements as predictions of
future events. Adamis cannot assure you that the events and
circumstances reflected in the forward-looking statements will be
achieved or occur, and actual results could differ materially from
those projected in the forward-looking statements. You should not
place undue reliance on any forward-looking statements. Further,
any forward-looking statement speaks only as of the date on which
it is made, and except as may be required by applicable law, we
undertake no obligation to update or release publicly the results
of any revisions to these forward-looking statements or to reflect
events or circumstances arising after the date of this press
release. Certain of these risks and additional risks,
uncertainties, and other factors are described in greater detail in
Adamis’ filings from time to time with the SEC, including its
annual report on Form 10-K for the year ended December 31, 2022,
and subsequent filings with the SEC, which Adamis strongly urges
you to read and consider, all of which are available free of charge
on the SEC’s website at http://www.sec.gov.
Contact:Adamis Investor RelationsRobert UhlManaging DirectorICR
Westwicke619.228.5886
1 NIDA. "Treatment and Recovery." National Institute on
Drug Abuse, 9 Mar. 2023,
https://nida.nih.gov/publications/drugs-brains-behavior-science-addiction/treatment-recovery.
2 Jeffrey J. Sacks, Katherine R. Gonzales, Ellen E. Bouchery,
Laura E. Tomedi, Robert D. Brewer, 2010 National and State Costs of
Excessive Alcohol Consumption, American Journal of Preventive
Medicine, Volume 49, Issue 5, 2015, Pages e73-e79, ISSN 0749-3797,
https://doi.org/10.1016/j.amepre.2015.05.031
3 Alcohol Use Disorder (AUD) in the United States: Age Groups
and Demographic Characteristics, NIAAA Website, Accessed June 12
2023,
https://www.niaaa.nih.gov/alcohols-effects-health/alcohol-topics/alcohol-facts-and-statistics/alcohol-use-disorder-aud-united-states-age-groups-and-demographic-characteristics#:~:text=Prevalence%20of%20Past%2DYear%20Alcohol%20Use%20Disorder%20(AUD)&text=According%20to%20the%202021%20National,AUD%20in%20the%20past%20year.&text=This%20includes%3A,12.1%25%20in%20this%20age%20group
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