A Few Words from the CEO
[Q3 INTERIM REPORT, JANUARY – SEPTEMBER 2016, NICOCCINO HOLDING AB]
Today everyone knows that smoking is dangerous, but despite this, smoking cause 5 million deaths per year and by 2030, this figure will increase to 8 million. And for every person who dies, 20 people suffer from at least one serious illness.
Most people believe that smoking rates goes down, which it does in the West, but globally the figure is slowly increasing with 3 % a year, foremost in the Middle East, India and China. It is with legislations, restrictions and tax pressures the number of smokers can be pushed down, in combination with aids.
The market for smoking cessation products is enormous, and that Nicoccino with its unique product can provide an effective aid is fantastic.
The company has during the past years gone through some different phases, however with one clear goal - that in 2016 begin the journey in getting the nicotine strip registered and approved as a smoking cessation drug.
The results of the recent period are that we have a strong patent protection; this year we received approval for our own nicotine patent in two markets, Singapore and New Zealand, which extends the platform protection to 2033. The product works from a user perspective, as it is being sold online in the UK where we have a loyal customer group. Finally, we have reports showing a 24 month shelf life and that the nicotine in a quick and efficient manner is released in the bloodstream. This we will now build on!
I have 30 years of experience within the pharmaceutical industry. During my years I have worked in various senior positions which given me in-depth knowledge of details such as active substances, of process- and documentation requirements and how to register and launch medicines.
The last few years I have supported pharmaceutical companies similar to Nicoccino to develop products and conduct clinical trials. It is with this background I am very motivated to take over and lead the Company to a registered and approved smoking cessation drug.
We now have three important phases in front of us which needs to be closely monitored and controlled. First, we need to develop a GMP approved product for clinical trials. Then conduct a clinical study to demonstrate the effect. Finally, prepare and submit a registration application to the MPA [Medical Products Agency].
Currently we are in the first phase and are excited about just having signed a contract with an American producer who will manufacture the nicotine strip. After the initial technical transfer and relevant tests, a batch will be manufactured for clinical trials.
My main objective is clear, to get the nicotine strip approved as a smoking cessation drug. This accomplishment adds value to the company as a drug approval is attractive to global players active in the smoking cessation industry.
