Nutriband Appoints Accomplished Business Leader Sergei Glinka to its Board of Directors

The Glinka family invested $4.5 million into Nutriband through the Company's April 2024 private placement

ORLANDO, FL / ACCESSWIRE / May 16, 2024 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a developer of transdermal pharmaceutical solutions, today announced the appointment of Sergei Glinka to its board of directors. Glinka is a seasoned and highly respected business executive with an impressive track record in leadership roles across major European companies.

Mr. Glinka, an Estonian citizen, is an experienced and highly regarded businessman who has held numerous Executive and Board positions in large European Companies providing Glinka with deep insights and networks across various industries in Europe. Currently Mr. Glinka serves on the Boards of European Companies including Automecanica Skb Property Srl., GST Investments OU and TG Biochemicals Ltd. As the seventh member of Nutriband's board of directors, Glinka is poised to facilitate new licensing and networking opportunities throughout Europe as Nutriband aims to expand its groundbreaking AVERSA technology internationally. Currently, AVERSA is patented in 45 countries, including all EU countries and the UK.

Glinka invested $4.5 million in Nutriband through the Company's $8.4 million private placement announced in April 2024. Nutriband believes these funds are sufficient to complete the FDA-approval process for its AVERSA technology.

Gareth Sheridan, CEO of Nutriband, stated, "We are thrilled to welcome Mr. Glinka to our board and believe his strategic insights and European market expertise will be invaluable as we continue to develop and expand our innovative suite of brands lead by our AVERSA technology."

AVERSA Fentanyl is estimated to have the potential to reach peak annual US sales of $80 million to $200 million, according to a market analysis report from Health Advances¹. The global opioid market was valued at $22.8 billion in 2022.

¹ Health Advances Aversa Fentanyl market analysis report 2022

About Nutriband Inc.

We are primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse-deterrent fentanyl patch incorporating our AVERSA abuse-deterrent technology. AVERSA technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.