JanOne gains exclusive rights to PAD treatment

Las Vegas, USA-based JanOne (Nasdaq: JAN) saw its shares rocket more that 109% to $5.34 by mid-morning today, after it announced a licensing agreement for TV1001SR, a treatment for peripheral artery disease, commonly called PAD.

The agreement with LSU Health Shreveport, UAB Research Foundation, and TheraVasc, gives JanOne a worldwide, exclusive license for TV1001SR along with a portfolio of 30 patents and other intellectual property relating to the sustained release of sodium nitrite. Financial terms of the deal were not disclosed.

The company anticipates TV1001SR will be a ground-breaking treatment for those with PAD, an often painful disease affecting more than 200 million people worldwide and 8.5 million in the USA. There is no known efficacious single-drug treatment for PAD available. Current treatments only mitigate the effects of PAD without treating the underlying cause – reduced ischemic tissue blood flow, which is a lack of blood flow to the extremities, and often leads to significant pain. As a result, according to a recent Stanford University3 study, nearly 25% of patients with PAD are at increased risk of high opioid use.