Odyssey Group International, Inc. (OTCQB:ODYY) has completed its acquisition of PRV-002, a novel neurosteroid aimed at treating concussions, from Prevacus, Inc. This all-stock transaction positions Odyssey to address a significant market opportunity, as over 3 million concussions occur annually in the U.S., with no FDA-approved drug currently available. PRV-002 has shown promise in preclinical studies, demonstrating effective brain biodistribution and positive behavioral outcomes. The company anticipates launching Phase 1 clinical trials in Q2 2021, with Dr. Jake VanLandingham leading the drug development efforts. Concussion has become an epidemic in sports, military and elderly populations. More than 3 million sports and recreational concussions occur in the U.S. annually, and an estimated 1.5 million more go unreported. These figures do not include the significant number of concussions sustained in other high-risk incidents, including motor vehicle accidents and elderly falls. Despite the high incidence rate, there are currently no FDA-approved drugs for concussion; the market for a treatment is estimated to be over $2 billion annually. In preclinical animal studies, nasal administration of PRV-002 has shown rapid, broad brain biodistribution and simultaneously reduced swelling, inflammation and oxidative stress with positive safety data. In addition, results from subjects treated with PRV-002 post-concussion showed positive behavioral outcomes using various testing platforms. Dr. Jake VanLandingham, Chief Executive Officer of Prevacus, has joined Odyssey as the Company's new Vice President of Drug Development and will continue to lead the development of PRV-002. Dr. VanLandingham stated, "I am honored and excited to join Odyssey. PRV-002 has performed well in preclinical studies with promising efficacy and safety data in animal models. We will be laser-focused on the initiation of our first in-human clinical trials during the second quarter of 2021." Michael Redmond, CEO of Odyssey added, "I am thrilled to welcome Dr. VanLandingham to the Odyssey team. His drug development ability and expertise will be invaluable as we develop PRV-002 and for future projects. Concussion is a serious health issues and we believe that by developing PRV-002 we can significantly improve patient outcomes. About Odyssey Group International, Inc. Odyssey Group International, Inc. (OTCQB:ODYY) is a technology and asset acquisition company with a focus in the area of life saving medical solutions. Odyssey's corporate mission is to create, acquire and accumulate distinct assets, intellectual properties, and exceptional technologies that provide meaningful medical solutions. The Company is focused on building and acquiring assets in areas that have an identified technological advantage, provide superior clinical utility, have a substantial market opportunity and provide solid returns to its valued shareholders and partners.
