Courtesy of Benzinga.
Apricus Biosciences, Inc. (“Apricus Bio” or the “Company”) (Nasdaq: APRI) (www.apricusbio.com) today announced the sale of (1) Totect^® (dexrazoxane HCl), a marketed, injectable treatment for anthracycline extravasation, and (2) NitroMist^® (nitroglycerin sublingual aerosol), an FDA-approved nitrate vasodilator indicated for acute relief of an attack or acute prophylaxis of angina pectoris due to coronary artery disease. In line with its previously stated corporate strategy, the Company is focusing its resources on commercializing its lead product Vitaros^® (alprostadil 0.3% topical cream), for the treatment of erectile dysfunction (“ED”), and on the development of Femprox^® (alprostadil 0.4% topical cream), for the treatment of female sexual arousal disorder (“FSAD”).
Totect^® was acquired by Biocodex USA (“Biocodex”), a subsidiary of a privately-held, French pharmaceutical company, Biocodex Laboratories. Under terms of the Biocodex agreement, Apricus Bio received an upfront payment at closing and is eligible to receive royalties on net sales of Totect^® by Biocodex through 2016, in exchange for Apricus Bio’s sale of its commercialization rights to Totect^® in North America and South America. NitroMist^® was acquired by Mist Pharmaceuticals, LLC (“Mist”), a privately held specialty pharmaceutical company. Mist will receive rights to commercialize and market NitroMist^® in all countries outside the U.S., Canada and Mexico.
