Painreform Ltd (NASDAQ: PRFX) was founded in 2007 and is headquartered in Israel. It is a clinical-stage specialty pharmaceutical company dedicated to reoptimizing established therapies. Painreform’s proprietary extended-release drug delivery system has the potential to extend the in vivo activity of API (active pharmaceutical ingredient), thereby expanding the therapeutic range of patient treatment.
Painreform Ltd (PRFX):
Painreform’s strategy is to integrate generic drugs with the company’s proprietary sustained-release drug delivery system, using the 505(b)(2) regulatory pathway created by the US Food and Drug Administration (“FDA”) to produce sustained-release drug products.
The 505(b)(2) New Drug Application (NDA) process is the FDA’s approval of individual applications based on data developed by others (including published literature references and data previously reviewed by the FDA in its review).
Painreform’s collection product PRF-110 is based on local anesthetic ropivacaine, aimed at the postoperative pain relief market. PRF-110 is an oil-based viscous transparent solution that is deposited directly into the surgical wound bed before closure to provide local analgesia after surgery.
Painreform believes that there is an urgent need for effective, long-lasting, non-opioid drugs to treat postoperative pain. The current market for postoperative pain treatment is approximately US$12 billion and is expected to grow to more than US$45 billion by the end of 2026. These market forecasts are based on the current generation of postoperative pain relief products, which are mainly composed of opioids administered systemically. Currently, most of the painkillers available are taken every 4-6 hours and require care while in the hospital, or use too much medication to treat the expected pain when discharged. Exposure to opioids is an important risk factor leading to opioid abuse. PRF-110 was created to extend the analgesic effect of the surgical site, thereby promoting early postoperative activities, recovery and reducing hospital stay.
Painreform Ltd (PRFX) investment:
Painreform Ltd (NASDAQ: PRFX) listed on NASDAQ on September 1st. The issue price was US$8, 2.55 million shares were issued, and US$20.4 million was raised. It was underwritten by Maxim Group and Joseph Gunnar & Co.