The company also announced that it has received an additional commitment from the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH), to fund a second study with respect to its nasal spray.
In September 2013, the company in collaboration with NIDA had started a clinical trial with respect to its nasal spray Naloxone, which is an injectable medicine that can rapidly reverse the overdose of prescription and illicit opioids.
The company has been developing a naloxone nasal spray that could widely expand its availability and use in preventing opioid overdose deaths, a public health problem of epidemic proportion in the US.
In collaboration with NIDA, the company will now assess its technology on a larger population, which will be a major step towards approval in the US and other worldwide regions.
Lightlake CEO Roger Crystal said the company is happy that NIDA has continued its support of its opioid overdose reversal treatment.
"This support demonstrates NIDA’s commitment of having an FDA approved intranasal naloxone nasal spray available to the public."
Lightlake CFO Kevin Pollack said NIDA’s continued commitment to advancing the company’s overdose reversal treatment reflects their confidence in the potential of its treatment.
"We believe that our treatment can make a huge difference in addressing the overdose epidemic and save a significant number of lives, and NIDA’s support plays a critical role in achieving our goals," Pollack said.