SAN DIEGO, March 10, 2011 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. ("Apricus Bio") (Nasdaq:APRI) () today announced that Linda Smibert, Vice President, Business Development at the Company's NexMed, USA, Inc. ("NexMed, USA") subsidiary, will present at the Bio-Europe Spring 2011 conference in Milan, Italy, on Wednesday, March 16th at 11:00 am CET.
The presentation will include a discussion of the Company's current worldwide licensing and commercialization efforts for Vitaros®, its first approved product for erectile dysfunction, as well as a description of the further development of the Company's four later stage products, MycoVa™ for onychomycosis, PrevOnco™ for liver cancer, Femprox® for female sexual arousal disorder and RayVa™ for Raynaud's Syndrome. In addition, Ms. Smibert will provide information on the Company's other eight product candidates it is developing that utilize its proprietary NexACT® technology.
The Company's Vitaros® product for erectile dysfunction has been approved by Health Canada and the Company is working towards identifying a licensing and commercialization partner in that country. The Company is also currently planning to make initial regulatory filings for the product for that indication in Europe and the MENA (Middle Eastern and North African) countries in the second quarter of 2011. In addition, Apricus Bio announced late in the fourth quarter of 2010 and in the first quarter of 2011, licensing and commercialization agreements for Vitaros® for erectile dysfunction in the following countries and regions: in Italy with Bracco SpA, in the Gulf Countries and certain countries in the Middle East with Elis Pharmaceuticals, and in Israel and the Palestinian Territories with the Neopharm Group.
Dr. Bassam Damaj, President and Chief Executive Officer of Apricus Bio, commented on the upcoming presentation, "We are looking forward to presenting the progress of the Company's first approved Vitaros® product for erectile dysfunction and its later stage product candidates. We are very pleased with our Vitaros® licensing and commercialization efforts with our current partners and we look forward to entering into additional agreements that will increase the number of worldwide countries that approve the product for marketing and sales therein. Ms. Smibert will also present an update on the progress we are making with our later stage products that we believe will be of interest to potential pharmaceutical company partners. Lastly, we are excited about the pace of the development of many of our earlier stage product candidates that utilize our NexACT® technology in the areas of oncology, dermatology, anti-inflammatory, pain, anti-infectives, diabetes and cosmeceuticals, among others, and we look forward to speaking with companies on how we can utilize our proprietary technology to help them improve the effectiveness of their own products, product candidates and compounds."
About Apricus Biosciences, Inc.
Apricus Bio, a San Diego based revenue-generating pharmaceutical company, 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. Revenues and growth are driven from out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies worldwide. In addition, the Company is seeking to monetize its existing product pipeline, including its first product, Vitaros®, approved in Canada for the treatment of erectile dysfunction, which is currently expected to be available on the Canadian market in 2011, as well as compounds in development from pre-clinical through Phase III, currently focused on sexual dysfunction, oncology, dermatology, autoimmune, pain, anti-infectives, diabetes and cosmeceuticals among others.
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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, timing for seeking foreign approvals for Vitaros®, timing and success of the commercial launch of Vitaros® in Italy, The Gulf Countries and part of the Middle East and in Israel and the Palestinian Territories, the potential size of the markets in each of these countries, the ability to develop and commercialize the Company's products on its own and with partners and the ability to meet its milestones. 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, V.P. Investor Relations & Corporate Development Apricus Bio, Inc. (858) 848-4249 ecox@apricusbio.com Apricus Bio Investor Relations Paula Schwartz Rx Communications Group, LLC (917) 322-2216 pschwartz@rxir.com