- PBS News Hour estimates that, for college students, concussions cost between $446 million and $1.5 billion annually, while for high school students the cost ranges from $5.4 billion to $19.2 billion
- Odyssey, through its flagship product, PRV-002, hopes to offer the first FDA-approved drug treatment for concussions
- Once approved, Odyssey is confident that PRV-w002 will bring relief to thousands of victims, reduce the cost of concussion treatment and allow victims to lead normal, healthy, and productive lives
- The company is currently scheduling a meeting with the FDA to present findings from the phase I trial, as it identifies phase II trial sites and creates the study design for other subsequent studies
According to the University of Michigan Health, every year in the United States, there are about 3.8 million concussions from sports-related injuries. The Center for Disease Control (“CDC”) further estimates that 5-10% of athletes will experience a concussion in any given sports season, with most of these injuries going undiagnosed or even unreported (https://ibn.fm/ofqNR).
The economic impact of these conditions is significant, with PBS News Hour estimating it to be between $446 million and $1.5 billion a year for individuals in college. In contrast, for high school students, the cost ranges from $5.4 billion to $19.2 billion (https://ibn.fm/kvZio).
While extensive research has been conducted on treating these concussions and related complications, most solutions have revolved around proper recovery management, primarily dependent on the type of concussion suffered or the symptoms experienced. For example, a concussion that leads to damage to the vestibular prompts vestibular rehabilitation. In addition, patients diagnosed with cognitive damage following a concussion are often prompted to take regular breaks, reduce workload, stick to a strict diet and stay hydrated, among others (https://ibn.fm/Id9vc).
Odyssey Health (OTC: ODYY) is pushing the envelope with concussion research and treatment. As a medical technology company focused on developing lifesaving medical products that offer technological and clinical advantages over current standards of care, Odyssey has remained committed to delivering superior products with enhanced clinical utility and market potential. This has seen the introduction of two key pharmaceutical products- PRV-002 and PRV-001.
PRV-002 is Odyssey’s flagship product, a novel compound for concussion treatment. Pre-clinical studies on this compound have shown to significantly improve both neuroscore and memory score following injury in rats subjected to concussion models. The product is currently being evaluated in a phase I clinical trial, following the successful completion of all three cohorts of its Phase I Single Ascending Dosing (“SAD”) clinical trial.
While speaking on the RedChip Money Report, Odyssey’s spokesperson, Bret Favre, highlighted the significance of the company’s research and the value it holds, not just to current football players in the United States but also to all future athletes. As a former American football quarterback with 321 consecutive starts over 18 years, and a seat at the Pro Football Hall of Fame, Mr. Favre has had his fair share of concussions. He notes the price he has paid for playing the game and suffering all those concussions, including memory loss issues.
“I just go day-to-day, year-to-year hoping that the repercussions from the concussions are not as serious as they’ve proven to be,” he noted.
“I’m passionate about seeing something change so many lives in the game I love. I would love to know that there is a solution for concussions other than ‘we [are] going to change the rules,’ ‘we [are] going to get better helmets….’ It’s something I’m very passionate about and want to see through to the end,” he added (https://ibn.fm/kjRYJ).
Odyssey is confident that PRV-002 will receive the American Food and Drug Administration (“FDA”) approval once all the necessary procedures are undertaken. The company is currently scheduling a meeting with the FDA to present the findings from the phase I trial, even as it identifies phase II trial sites and creates the study design for this and other subsequent studies.
Once sanctioned, PRV-002 will become the first FDA-approved drug treatment, bringing relief to thousands of victims in the United States and the world over. Odyssey is optimistic that the cost incurred by victims will be significantly reduced with its drug approval, allowing victims to lead normal, healthy, and productive lives.
For more information, visit the company’s website at www.OdysseyHealthInc.com.
NOTE TO INVESTORS: The latest news and updates relating to ODYY are available in the company’s newsroom at https://ibn.fm/ODYY
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
To receive SMS text alerts from BioMedWire, text “Biotech” to 844-397-5787 (U.S. Mobile Phones Only)
For more information, please visit https://www.biomedwire.com
BioMedWire is part of the InvestorBrandNetwork.