Apricus Bio Announces Confirmatory Results Qualifying NexACT as an Anti-Microbial Preservative
SAN DIEGO--(BUSINESS WIRE)--Sep 20, 2010 - Apricus Biosciences (“Apricus Bio”) (Nasdaq: APRI), backed by a revenue generating CRO business and seeking to leverage its multi-route NexACT® drug delivery technology and internal pipeline through out-licensing partnerships, today announced that results from a United States Pharmacopeia Preservative Efficacy Test (USP PET) qualified NexACT as an anti-microbial preservative. The results show that NexACT was effective in killing more than 23 strains of bacteria, fungus and mold, well beyond the requirements for passing the USP PET. These results are supported by the Company's prior, long-term stability and microbiology data, generated from its clinical batches of Vitaros® (Apricus Bio's topical treatment for erectile dysfunction).
Commenting on today's news, Bassam Damaj, Ph.D., President and Chief Executive Officer of Apricus Bio, stated, “The ability of NexACT to function as a preservative opens up new partnering opportunities with pharmaceutical and cosmetic developers. The safety of NexACT has been tested extensively in over 4,500 patients to date, with excellent results. We therefore think it has the potential to compete with commonly used preservatives, such as parabens, which are in more than 90 percent of all marketed cosmetic products and can cause allergic reactions such as contact dermatitis and delayed hypersensitivity reaction in about 10% of the population. We look forward to publishing this data and sharing our findings with potential partners.”
About Apricus Biosciences
Backed by NexMed, USA and Bio-Quant, Inc., its revenue generating CRO business, Apricus Bio has leveraged the flexibility of its proven NexACT® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes. Future growth is expected to be driven primarily through out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies, worldwide. Concurrently, the Company is seeking to monetize its existing product pipeline, including compounds from pre-clinical through Phase 3, currently focused on dermatology, sexual dysfunction and cancer. For further information on Apricus Bio and its subsidiaries, visit http://www.apricusbio.com. (Apricus Bio was previously named NexMed, Inc. The corporate name was changed in September 2010 in recognition of the evolution and expansion of the Company's business.)
Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including but not limited to, its ability to replicate laboratory results in commercial production, enter into partnership agreements and successfully execute business plans. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K and subsequent quarterly reports filed on Form 10-Q. Copies of these reports are available from the SEC's website or without charge from the Company.
Contact: Apricus Bio:
Edward Cox, 858-848-4249
V.P. Investor Relations
Apricus Bio Investor Relations:
Rx Communications Group, LLC
Paula Schwartz, 917-322-2216
Posted: September 2010