AI Financial Corporation Rebrands Its Biotech Business as Drew Therapeutics in Honor of Andrew Witkoff, Who Succumbed to Opioid Addiction in 2011
AI Financial Corporation (Nasdaq: AIFC) announced it is rebranding its biotech subsidiary Alyea Therapeutics as Drew Therapeutics, honoring Andrew Witkoff, the chairman's brother who died of an opioid overdose in 2011 at age 22. The subsidiary's pipeline of non-addictive pain treatments — including an FDA orphan-drug-designated low-dose naltrexone formulation for CRPS and the Drew Clear Patch — is unchanged, and it remains slated to become a separate, independent public company.
Key figures
- Opioid deaths 10yr
- more than 700,000 Americans
- Oxycodone consumption
- Americans are 5% of world population but consume 80% of world's oxycodone
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