Today we’d like to introduce you to Gareth Sheridan
Hi Gareth, thanks for joining us today. We’d love for you to start by introducing yourself.
I am originally from Dublin, Ireland and met my now wife, Heidi in Utah in 2015. I have always been very passionate about entrepreneurship but particularly for business which can do good. My business Nutriband started as a University thesis idea surrounding patch technology and how it could be further utilized in the health and pharmaceutical space and not just for nicotine delivery. This quickly grew into a business plan and a blueprint for what Nutriband has become today which is a pharmaceutical company focused on improving FDA approved drugs through transdermal technology whether that be patient comfort, improved delivery or most importantly Safety. Over the course of our journey we acquired a number of interesting companies, we acquired an outstanding team and importantly acquired a massive knowledge base surrounding Patch technology. I met the company’s now Chairman, Serguei Melnik in 2015 and we set out a target not only to build a great company but also a Company that could make a difference and be a disruptor. In October 2021 we were fortunate to reach a point where Nutriband was listed on the Nasdaq Stock Market and in December, surrounded by family and colleagues we rang the famous opening bell. This was an amazing feat for the team but we were also just getting started. Since the end of 2021 we have been developing what we have called AVERSA. This is our platform technology which is applicable to any patch on the market today with a risk of abuse such as opioids for treating chronic pain. the Benefit of AVERSA is that it can be applied to the exterior of an existing patch with the goal of making those patches very difficult to abuse or misuse. We are focused on the opioid space in a three pronged approach. Firstly AVERSA will make it very difficult to abuse opioid based patches for people with addiction, secondly and often forgotten is that we will make sure these pain treatments can become accessible to the genuine pain community who have had their access cut in recent years due to the negativity surrounding opioids and thirdly and equally as important again is we will drastically reduce the risk of accidental exposure to improper;y discarded opioid patches which has resulted in many infant deaths and dozens more hospitalizations due to this accidental exposure. As of today we are targeting to file for FDA approval in the first half of next year.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
All entrepreneurship journeys come with Highs and Lows. It has certainly not been a smooth road but most bumpy roads lead to better destinations. Navigating the sharks waters of Wall Street, in-genuine relationships, a Global lockdown in Covid are just some of the major challenges that were faced. Thankfully we persevered and are in a position today where the future of the company looks bright for us and our shareholders.
We’ve been impressed with Nutriband Inc., but for folks who might not be as familiar, what can you share with them about what you do and what sets you apart from others?
Our lead product is our AVERSA technology. AVERSA™ abuse deterrent transdermal technology incorporates aversive agents to prevent the Abuse, DiVERsion, MiS use and Accidental exposure of drugs with abuse potential specifically Opioids. Our first application for AVERSA is for our abuse deterrent fentanyl transdermal patch which we are developing to provide clinicians and patients with an extended release chronic pain relief. The goal is to make these pain treatments safe for all who need them. When used correctly they provide incredible relief and care to chronic pain patients.
Much of the company background was provided in Q1 but it is important to note and something we are very proud of is that we are In a very small niche of companies, as cliche as it sounds, that can do a lot of good from an investment perspective and for our shareholders, but also do a lot of good socially and for humanity. There are few companies I am aware of that started as a college university project that are now on the cusp of revolutionizing the safety profile of a whole category of drugs and saving potentially thousands of lives per year in the process.
Risk taking is a topic that people have widely differing views on – we’d love to hear your thoughts.
As an entrepreneur, risk always plays a role. My view on risk taking is that it can be calculated and needs to be weighed up against the reward. In my early entrepreneurship days I would say that I was completely a risk taker. For example, I was advised that the idea for the company would never work by many individuals and organizations. I did not believe them. I took the risk in pouring everything I had into the company with the belief that If I happened to be right and they were wrong that the risk/reward would be In my favor. As of today Nutriband is valued at approximately $80 M USD and we are still in our infancy in my opinion.
Contact Info:
- Website: https://www.nutriband.com
- Instagram: gareth_sheridan
- Facebook: https://www.facebook.com/gareth.sheridan.3
- Twitter: https://x.com/GPSheridan1
