DGAP-News: Apricus Biosciences Announces Expanded European Patent Coverage for MycoVa(TM) for Nail Fungus
ID: 358343
01.03.2011 15:14
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SAN DIEGO, 2011-03-01 15:14 CET (GLOBE NEWSWIRE) --Apricus Biosciences, Inc. ('Apricus Bio') (Nasdaq:APRI) announced today that
the European Patent Office ('EPO') will grant a patent for the company's
MycoVa? product for treating onychomycosis (commonly referred to as nail
fungus).
The European Patent Office recently issued a 'notice of allowance' for the
Company's patent entitled 'Antifungal Nail Coat and Method of Use.' Once
issued, this will be the second patent that Apricus has received in Europe for
MycoVa and onychomychosis.
The patent will give Apricus Bio patent protection for MycoVa? and its use for
nail fungus in Europe until 2024. 'This expanded patent coverage will enable us
to move forward with our plans to seek regulatory approval for MycoVa?, and to
potentially market the product as a treatment for mild nail fungus in Europe,'
said Dr. Bassam Damaj, President and Chief Executive Officer of Apricus Bio.
'We are also seeking similar patents worldwide.'
The Company currently holds 16 patents related to the treatment of nail fungus,
with 13 patent applications pending and has patent protection for its
underlying NexACT(r) technology used in the nail fungus treatment in Europe, and
well as in a number of other countries.
MycoVa?combines an existing, approved drug for nail fungus, terbinafine, with
the NexACT(r) technology that enhances the absorption of the drug through the
skin. In January 2011, the Company announced that an additional analysis showed
that MycoVa? is as effective for the treatment of nail fungus as the current
European standard of care for topical therapy, Loceryl(r) (an ointment made by
Galderma). Those results convinced the Company to seek regulatory guidance
meetings from certain health agencies in Europe.
The advantage of Apricus Bio's MycoVa? is that it is easy to apply, thus
improving patient compliance. MycoVa? is applied to the infected nails,
typically at bedtime, with minimal preparation, such as simply washing with
soap and water. The formulation allows significant amounts of the drug to
penetrate through the nail plate to the nail bed and surrounding area where
fungus is located without significant systemic exposure.
Onychomycosis is a chronic persistent fungal infection of the nail bed that
causes thickening and discoloration of the nail. The infection sometimes causes
serious pain and disability. According to the Merck Manual, about 10% of people
around the world suffer from onychomycosis. Recent studies (such as one by
Iorizzo and Piraccini in 2007) show that the incidence is rising due to
diabetes, immunosuppression and an aging population. The infection may hit as
much as 90% of the elderly (eMedicine.medscape.com). As of 2008, Thomson
Reuters Pharma estimated that the worldwide market is approximately $2.8
billion per year, and predicted that the market would grow to approximately
$2.9 billion by 2014.
About Apricus Biosciences, Inc.
Apricus Bio, a San Diego based revenue-generating pharmaceutical company, has
leveraged the flexibility of its clinically-validated NexACT(r) 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(r),
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.
For further information on Apricus Bio, visit http://www.apricusbio.com and for
information on its subsidiaries please visit www.nexmedusa.com or
www.bio-quant.com
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 develop products
from its patented technology and to successfully enter into partnership,
licensing or commercialization agreements for MycoVa? and other of its product
candidates, its Vitaros(r) 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.
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
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01.03.2011 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Apricus Biosciences, Inc.
United States
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ISIN: US9901429525
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