SAN DIEGO--(BUSINESS WIRE)-- Apricus Biosciences, Inc. (“Apricus Bio”) (Nasdaq: APRI) (www.apricusbio.com), announced today that President and Chief Executive Officer Bassam Damaj, Ph.D., has been interviewed by CDTV.net, a New York-based financial network (www.cdtv.net). The interview is currently available at CDTV.net or directly at http://www.cdtv.net/users/content/apricus-biosciences-nasdaq-apri-receives-canadian-approval-vitaros-first-line-therapy-erecti.
Apricus Bio announced on November 15, 2010 that Health Canada has granted marketing approval for Vitaros®, the Company’s proprietary, topically applied, on-demand treatment for erectile dysfunction. In the interview at CDTV.net, Dr. Damaj explained that Apricus Bio decided to research, develop, and seek approval for Vitaros for several reasons, including addressing the unmet medical need for a patient-friendly, on-demand topical treatment suitable for patients with erectile dysfunction of different severity. Dr. Damaj said that now, with Vitaros, patients with cardiac disease, hypertension, diabetes, and patients who are obese or who are not successful or contraindicated for currently available oral erectile dysfunction drugs, will have a fast-acting and non-painful alternative.
Apricus Bio developed the Vitaros cream by incorporating its proprietary NexACT® permeation enhancer technology with alprostadil, a well-recognized vasodilator and treatment for erectile dysfunction that is currently marketed as an injectable product or an intraurethral insert product. The NexACT delivery technology has been clinically validated by Health Canada’s approval and the Vitaros cream treatment will be available to patients in Canada. Apricus Bio also intends to use the Canadian approval as the basis for seeking registration of the product for potential marketing in more than 100 international markets.
In the CDTV.net interview, Dr. Damaj noted that there is currently a $3 billion market worldwide for erectile dysfunction treatments, with oral medication dominating the marketplace. Some urologists have said that a prescribed topical erectile dysfunction treatment has the potential to capture up to 20-30 percent of their patients, once approval is granted.
Now that its NexACT technology has been validated in an approved prescription product, Apricus Bio intends to continue moving forward with the development of the 12 other drugs in its pipeline, including potential treatments for liver cancer, female sexual arousal disorder, Raynaud’s syndrome secondary to scleroderma, psoriasis, oral cancer and pain.
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 its approved drug erectile dysfunction treatment, Vitaros, as well as compounds in development 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.
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 successfully commercialize Vitaros in Canada, receive registration of Vitaros in other countries, replicate pre-clinical study results in subsequent human clinical studies, 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.
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