Tonix Pharmaceuticals Holding Corp. (OTCBB: TNXP) (“TONIX” or the “Company”), which specializes in non-addictive treatments for chronic pain syndrome disorders, announces that Chief Executive Officer Seth Lederman, M.D. was interviewed by GLX-TV Financial News. In providing an eight-minute overview of the Company, Dr. Lederman stated that TONIX is focused on treating fibromyalgia pain in an entirely new, opiate-free approach that targets sleep problems associated with chronic pain syndromes. Dr. Lederman’s full interview as part of the GLX-TV OpenCEOLive series is available at http://www.youtube.com/watch?v=l8hb2E5CO0k&feature=player_embedded.
Dr. Lederman noted that by treating sleep problems in fibromyalgia patients, symptoms of the entire syndrome improve. He pointed out that opiate addiction is a major problem among chronic pain sufferers and acknowledged that fibromyalgia has not been optimally treated by the medical community. The National Institutes of Health estimates that there are five million Americans with fibromyalgia, Dr. Lederman said. He added that the growing drug market for fibromyalgia is $1.2 billion a year and that only the U.S. and Canada have approved drugs to treat fibromyalgia. Only three drugs are indicated for fibromyalgia, none of which have been shown to address the underlying sleep disturbance that is a hallmark of the disorder.
TONIX plans to use a proprietary, low dose formulation of cyclobenzaprine in a new treatment paradigm for fibromyalgia and post-traumatic stress disorder (PTSD). Cyclobenzaprine is the active ingredient in two prescription muscle relaxants that have been approved by the U.S. Food and Drug Administration and are marketed by other companies.
Dr. Lederman noted that the recent contraction in research and development by large pharmaceutical companies provides opportunities for companies such as TONIX that pursue innovative approaches to treating unmet medical needs, with the goal of partnering with larger firms for late-stage development, marketing and distribution.TONIX is a patient-focused company led by an experienced management team with a distinguished track record in drug development. The Company’s Board of Directors includes Samuel R. Saks, M.D. who developed pharmaceutical products for central nervous system conditions, including Xyrem® and Concerta®, and is the former CEO and founder of Jazz Pharmaceuticals, Inc.