Cosmos Holdings d/b/a Cosmos Health, Inc. (“the Company”) (NASDAQ:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, today announced that it has entered the development phase for CCX0722, an innovative product for obesity and weight management, based on the effectiveness of biocompatible 3D spatial fillers, from natural ingredients.
Spatial fillers are hydrophilic biopolymer grids capable of absorbing and retaining large amounts of water or biological fluids. Administration of CCX0722 is expected to reduce food intake by increasing satiety and reducing appetite. The product is being optimized in terms of its physicochemical properties and its effects on gut microflora through a series of in vitro studies and simulations. COSMOS plans to initiate clinical intervention in the fourth quarter of 2023.
The product was developed by Cloudpharm PC and collaborators states Dr. Panagiotis Zoumpoulakis, who is also the R&D Advisory Board member for Cosmos Health. Dr. Zoumpoulakis is an associate professor and Head of the department of Food Science and Technology of the University of West Attica, Greece. He holds a bachelor’s degree and Ph.D. in Chemistry from the University of Patras and an MBA from the Athens University of Economics and Business. He has authored 130 peer review scientific publications and has been awarded 26 national and European grants.
“The science behind CCX0722 is new and revolutionary in the weight loss space, and our recent trials provide further assurance regarding its effectiveness” stated Greg Siokas, Chief Executive Officer of Cosmos Health. “For years many of our customers and distributors have been searching for a product to fight obesity that is natural, but also effective. We are proud to be one step closer in that endeavor. We are aiming to offer a product for obesity’s unmet need with proven efficacy, tolerance and safety documented in clinical trials. We strongly believe that this product can be a leader within this multi-billion dollar market. We are privileged to have the collaboration with Cloudpharm to continue to perfect a product that will usher in a new era for Cosmos Holdings, with a focus on branded pharmaceuticals and medical technologies.”
Dr. Zoumpoulakis stated; “Over the past 3 years we have been working diligently on advancing the product through various tests and optimizations, and we are most excited now regarding its potential as we begin the development stage. The use of spatial fillers in the fight against obesity is highly unique and our results thus far have been very encouraging.”
According to Grand View Research, the global weight management market was valued at USD $132.7 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 9.7% over the next nine years. The worldwide increase in obesity is driving market growth for pharmaceutical and nutraceutical remedies, due to the rising prevalence of related chronic diseases such as diabetes, hypertension, and orthopedic diseases.
Furthermore, the COVID-19 pandemic and the social isolation that was implemented during lockdowns has contributed to a further increase in obesity and cardiovascular diseases. Therefore, the development of innovative and effective products for the management of obesity and related comorbidities is a challenge with socio-economic consequences.
