I hadn't realized there was still a market for injectable ED treatments:
>>NAPA, Calif., and EDINBURGH, Scotland, June 21 /PRNewswire-FirstCall/ -- Senetek PLC (Nasdaq: SNTK - News), a healthcare technologies company focused on developing and co-marketing products for the anti-aging markets worldwide, and Ardana, the emerging pharmaceutical company dedicated to improving reproductive health, today announced the signing of an exclusive license for Ardana to manufacture and market Invicorp®, Senetek's patented combination drug treatment for male erectile dysfunction, in the European Union and European Free Trade Area.
Under the license agreement, Ardana assumes full responsibility for completing the European drug regulatory process for Invicorp® and seeking national marketing approvals throughout Europe. Senetek will receive royalties based on net sales of Invicorp® plus milestone payments upon regulatory approvals in specified major markets and achievement of specified cumulative net sales in Europe.
Invicorp® has been approved in Denmark, which has been chosen as the Reference Member State for the Mutual Recognition Procedure in Europe. Additionally, Invicorp® has been approved in New Zealand where it will be marketed by another Senetek licensee commencing later this month.
Current pharmacotherapy for erectile dysfunction includes oral, transurethral and injectable intracavernosal treatments. The non-oral erectile dysfunction market was estimated as $85 million worldwide in 2003, with $45 million sales in Europe and $32 million in the US (Source: IMS MAT Sept 03). Invicorp® is an injectable form of phentolamine mesilate and vasoactive intestinal polypeptide.
Frank J. Massino, Chairman and Chief Executive Officer of Senetek, commented, "Finding the right commercial partner for this unique injectable formulation, with the focus it deserves and the technical expertise and financial capability to speed it to market, was a key objective of Senetek's 2004 business plan, and Ardana is perfectly suited to that role. We are confident that our partnership with Ardana will allow Invicorp® to realize its full potential in the growing European erectile dysfunction market. With this agreement in place, Senetek is ideally positioned to concentrate on its core business of expanding its portfolio of proprietary dermatologicals for the global ethical pharmaceutical and cosmeceutical markets."
Dr. Maureen Lindsay, Chief Executive of Edinburgh-based Ardana, said, "Some patients are unsuited to an oral formulation and we believe the market for injectable treatments for erectile dysfunction will grow as awareness of the condition increases. Based on clinical data we also believe that Invicorp® can provide important benefits in the injectable treatment of erectile dysfunction. Invicorp®, together with Striant(TM) SR, our testosterone replacement therapy for men with primary or secondary hypogonadism, which we recently launched in the UK, provide the basis for developing our franchise in male reproductive health, one of the areas we are focusing on through our specialist sales force. This deal represents the next milestone in our development as we build a portfolio of revenue generating products to take us through to profitability."<<
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Cheers, Tuck |
