We aim to address the need in pain treatment while also avoiding the significant challenges and side effects that come with currently available therapies.
Chronic pain is a growing problem, not only in terms of the significant number of people that are impacted by chronic pain and the burden this places on our healthcare system, but also because of the abuse and addiction issues, as well as deaths, that have arisen from the high use of opioids to treat chronic pain. One out of every 10 adults are diagnosed with chronic pain each year worldwide, making it the most common symptom driving people to seek medical help.
As our population ages, the number of people experiencing chronic pain is expected to grow, increasing the burden on our already taxed healthcare system and the possibility of people becoming addicted to their prescribed opioid treatments. Currently available non-opioid treatments, while avoiding the abuse and addiction issues associated with opioid treatments, offer limited pain relief, together with significant gastrointestinal, cardiovascular, central nervous system, renal and other adverse effects, including organ failure and death.
We believe that our broad therapeutic pipeline of non-opioid chronic pain therapeutics is uniquely positioned to address the limitations of currently available therapies by providing safe, effective and long-term pain treatment solutions.
Sources: 1. Global Industry Analysts, Inc. (http://www.prweb.com/pdfdownload/8052240.pdf) 2. The American Academy of Pain Medicine (http://www.painmed.org/patientcenter/facts_on_pain.aspx) 3. Substance Abuse and Mental Health Services Administration (http://www.samhsa.gov/data/) 4. Centers for Disease Control and Prevention. Injury Prevention & Control: Data & Statistics (http://www.cdc.gov/injury/wisqars/fatal.html) 5. Frieden, T. (2014). State Policy Changes and CDC Impacting the Rx Drug Abuse Epidemic. National Rx Drug Summit (p. 3). Atlanta: National Rx Drug Summit 6. Centers for Disease Control and Prevention. Morbidity and Mortality Weekly Report. January 13, 2012. (http://www.cdc.gov/mmwr/preview/mmwrhtml/mm6101a3.htm) 7. National Institutes of Health, Defined Health, Pain Webinar 2/1/12, Elder, M The Global Market for Pain Management Drugs and Devices, HLC026D, BCC Research January 2013 8. GlobalData; Carmona et al., 2001; Dillion et al., 2006; Guillemin et al., 2011; Sudo et al., 2008; Van Der Pas et al., 2013; Yoshimura et al., 2009