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Rhinomed to develop drug for acute migraine

Rhinomed (ASX:RNO) is set to tap the US$3.6 billion migraine drug market by developing a drug to be delivered via its proprietary nasally delivered BreatheAssist technology.

It will develop a variant of its nasal and respiratory delivery system that will contain low dose of Sumtriptan to treat acute migraine. Its nasal technology already has wide acceptance within the sporting environment.

Rhinomed is commercialising its BreatheAssist technology in the sport, well-being, sleep and drug delivery markets and has developed a product called Turbine for athletes that has been shown to increase airflow by an average of 38% through nasal passages.

Administering the drug nasally provides faster and more convenient uptake and fewer side effects compared with oral or injection therapies.

The migraine market is huge with over 37 million Americans estimated to be suffering from it.

Rhinomed had over $742,000 in cash in the last quarter and access to facility of over $5.2 million. It is likely to receive an R&D tax incentive rebate of around $388,393 in the quarter ending March 2014.

http://www.proactiveinvestors.com.au/companies/news/52834/rhinomed-to-develop-drug-for-acute-migraine-52834.html