APRICUS BIOSCIENCES ANNOUNCES EXPANSION OF ITS NEXACT® PATENT PORTFOLIO
Worldwide Portfolio Currently Consists of Approximately 134 Issued Patents and 137 Patent Applications
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SAN DIEGO, August 15, 2011 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. ("Apricus Bio" or the "Company") (Nasdaq:APRI) (http://www.apricusbio.com) announced today the receipt of its latest issued Canadian patent, No. 2,512,015, entitled, "Topical Stabilized Prostaglandin E Compound Dosage Forms." The patent covers a form of the Company's room temperature technology for its Vitaros® product for the treatment of erectile dysfunction. With receipt of this patent, Apricus Bio has approximately 134 patents granted, and 137 patent applications pending in its worldwide portfolio, covering its NexACT® technology and products.
Currently issued patents cover both the NexACT® second and third generation technologies and Apricus Bio's products -- all of which utilize either the second or third generation NexACT® technology.
Specifically, for the NexACT® technology, the Company holds composition of matter patents, generally one of the strongest forms of protection for a biopharmaceutical technology. The Company has patents and patent applications pending not only for the chemical entity of NexACT® , namely DDAIP, but also, for the synthesis of the molecule, the different routes of delivery, the type of molecules it delivers, along with the delivery actions. The patents and patent applications for the NexACT® technology provide certain coverage at the latest until 2030, depending on the patent or patent application subject matter and the country.
Product patents currently provide protection for the Company's pipeline until the latest 2026, depending on the product, the patent subject matter and the country.
"We are very pleased with the issuance of this latest patent, and with the continued growth and breadth of our patent portfolio," stated Dr. Bassam Damaj, Chairman, President and Chief Executive Officer of Apricus Bio. "The large number of patents and patent applications, and the coverage that we enjoy is a sign of a strong and growing biopharmaceutical company. It is one of our greatest assets and we will continue to protect it as we expand the Company going forward."
Apricus Bio has a current pipeline of 14 products and product candidates, as well as a number of other product candidates in the pre-clinical screening stage. It has one approved product, Vitaros® for erectile dysfunction in Canada, and four later stage products: Femprox® for female sexual arousal disorder, MycoVa™ for onychomycosis (toe nail fungus, excluding Tinea Pedis), PrevOnco® for human hepatocellular carcinoma (liver cancer) and RayVa™ for Raynaud's Syndrome.
At present, Apricus Bio is also awaiting clearance from the FDA to market its first anti-fungal, over-the-counter ("OTC") drug containing the NexACT® technology along with tolnaftate, as the active ingredient for this anti-fungal drug.
About Apricus Biosciences, Inc.
Apricus Bio, a San Diego-based, revenue-generating, biopharmaceutical 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.
For further information on Apricus Bio, visit http://www.apricusbio.com, and for information on its subsidiary please visit http://www.nexmedusa.com . You can also receive information at http://twitter.com/apricusbio and http://facebook.com/apricusbio.
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 receive issued patents on its NexACT® technology and products, develop such patented technology into product candidates, have its products and product candidates such as Vitaros® approved by relevant regulatory authorities, to successfully commercialize such products and product candidates and to achieve its other development, commercialization and financial goals. 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.
Contacts:
Apricus Biosciences, Inc.
Edward Cox, V.P.
Investor Relations & Corporate Development Apricus Bio, Inc.
(858) 848-4249
[email protected]
Apricus Bio Investor Relations
Paula Schwartz
Apricus Bio, Inc. Rx Communications Group, LLC
(917) 322-2216
[email protected]