SAN DIEGO, Jan. 26, 2011 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. ("Apricus Bio") (Nasdaq:APRI) () announced today that Chief Executive Officer, Dr. Bassam Damaj, was recently interviewed by CDTV.net, a New York-based financial network (). The interview is currently available at .
In the interview, Dr. Damaj updated corporate activities, including Apricus Bio's plans for the commercialization of Vitaros®, a topical treatment for erectile dysfunction, in markets outside of the U.S., including Europe and the Middle East, as well as the Company's progress in the development of its pipeline products.
Health Canada granted marketing approval for Vitaros® as a first-line therapy for erectile dysfunction in November 2010, Dr. Damaj noted. Vitaros® is Apricus Bio's proprietary, topically-applied, on-demand treatment for erectile dysfunction, which incorporates the Company's proprietary drug delivery technology, NexACT®. In the CDTV interview, Dr. Damaj stated that Apricus Bio's future plans include seeking approval for a product containing a similar chemical formulation as Vitaros®, as a treatment for premature ejaculation.
In addition, Dr. Damaj touched on the potential ramifications of any possible future U.S. Food and Drug Administration ("FDA") approval of Vitaros®, for which Warner Chilcott owns the rights in the U.S. He said that in addition to the $2.5 million the Company could receive from Warner Chilcott upon such approval, this event could help Apricus Bio receive faster approval of certain of its other drug candidates using the Section 505(b)(2) regulatory path, as specified by the Hatch-Waxman Amendments to the U.S. Federal Food, Drug and Cosmetic Act. Pursuant to Section 505(b)(2), the Company may be able to utilize such potential FDA approval of Vitaros® to file New Drug Applications ("NDAs") for other drugs utilizing the NexACT® technology, which may shorten the regulatory approval process while requiring bioequivalency studies, instead of full blown clinical studies.
In the interview, Dr. Damaj also discussed Apricus Bio's advanced pipeline products currently in Phase II or Phase II/III development, such as PrevOnco™ for liver cancer, Femprox® for female sexual arousal disorder and MycoVa™ for onychomycosis.
About Apricus Biosciences, Inc.
Backed by NexMed, USA and Bio-Quant, Inc., its revenue generating CRO business, Apricus Bio has leveraged the flexibility of its clinically-validated 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 its approved drug erectile dysfunction treatment, Vitaros®, as well as compounds in development from pre-clinical through Phase III, currently focused on dermatology, sexual dysfunction and cancer. For further information on Apricus Bio and its subsidiaries, visit .
Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: 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 obtain and/or enforce patent coverage in major markets, to develop products that have been demonstrated in clinical trials, to receive approval of its products from the U.S. FDA and other regulatory authorities, and to successfully enter into partnership agreements for its product candidates, its Vitaros® product and its NexACT® platform technology. 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, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
CONTACT: Apricus Biosciences, Inc. Edward Cox VP, Investor Relations & Corporate Development (858) 848-4249 ecox@apricusbio.com Apricus Bio Investor Relations Paula Schwartz Rx Communications Group, LLC (917) 322-2216 pschwartz@rxir.com