A small pharmaceutical development company is in the process of developing a new ADHD drug, which could net over $1 billion per year, if it makes it to market.
P2D Bioscience was started in 2005 by a former University of Cincinnati psychiatry professor, Dr. Frank Zemlan.
P2D partnered with Advinus, a drug discovery company based in Bangalore, India. The two companies are working on developing a drug, which was once used for cocaine addiction, to treat ADHD, but with fewer side affects and no addiction liability.
ADHD is the most commonly diagnosed psychiatric disorder in children, with symptoms continuing into adulthood in up to 50 percent of cases. Recent estimates show that approximately 4.7 percent of American adults live with ADHD.
In the U.S. alone, the rate has grown from 12 per 1,000 children in the 1970s to 34 per 1,000 in the 1990s.
"This drug has a big advantage over similar drugs," says Zemlan, CEO of P2D. "Without the risk of addiction liability, there is potential for a huge market."
The drug was designed not to be addictive because it had been used for cocaine addicts. The drug has passed the first round of pre-clinical testing, and Zemlan says it will be able to begin testing on humans in eight to 12 months, if all goes as planned. Currently, the drug is undergoing safety tests.
"It's a big boom for Cincinnati to have drug development company based here," Zemlan says. "It gives a lot of opportunity for hiring high-tech and highly skilled employees."
In its short existence, P2D has had great success and already has patents around the globe. Much of the work is through a partnership with the National Institute of Health, which is where P2D obtains many of its grants for research.
"This year alone we have received $4.5 million in grants from the NIH," Zemlan says. "We hope to keep growing."
By Evan Wallis