PII, (Pharmaceutics International, Inc.) and NexMed, Inc. (Nasdaq: NEXM)
announced today that they have signed a Memorandum of Understanding
(MOU) for a strategic product development collaboration utilizing
NexMed’s NexACT drug delivery platform.
Pursuant to the MOU, PII will promote the NexACT technology to its
clients and may independently identify new product development
opportunities for this collaboration with NexMed. PII will be
responsible for the research and development of the new pharmaceutical
products with technical guidance and oversight from NexMed, and will
also assume responsibility for clinical trial material manufacturing and
commercial manufacturing of the new products.
Hem Pandya, NexMed’s COO said, “We are very pleased to enter into this
collaboration with PII. The strategic goal is to broaden the promotion
of our technology and permit us access to PII’s research and development
and commercial manufacturing infrastructure. We will also be able to
continue with our current product development efforts at significantly
reduced monthly overhead expenses.”
Steve King, PII’s Senior Vice President said, “The collaboration between
the companies will offer PII’s customers opportunities for product
development without having to move their compounds elsewhere. The NexACT
technology fits well with PII’s Drug Delivery Solutions initiative.”
NexMed’s transdermal drug delivery technology-NexACT-represents an
important breakthrough in providing a highly effective transdermal
therapeutic approach to the diseases that are currently being treated by
systemic (oral or intravenous injections) therapy. The patented NexACT
technology utilizes formulations containing new biodegradable
ingredients to overcome the skin’s natural barrier properties and
enables the rapid penetration of high concentrations of active drug
directly through the skin and major mucous membranes, thereby resulting
in new and highly effective topical and transdermal therapies.
About NexMed, Inc.
NexMed, Inc. leverages its proprietary NexACT drug delivery technology
to develop innovative topical pharmaceutical products that address unmet
medical needs. NexMed’s novel onychomycosis treatment is licensed to
Novartis for global development. NexMed’s pipeline also includes its
late stage alprostadil treatment for erectile dysfunction, licensed to
Warner Chilcott, a Phase 2 treatment for female sexual arousal disorder,
and an early stage treatment for psoriasis. For further information
about NexMed, go to www.nexmed.com.
About Pharmaceutics International, Inc.
A privately-held company, Pharmaceutics International, Inc. is a leading
multinational contract formulation development, Clinical Trial Materials
(CTM), and commercial manufacturing company with corporate headquarters
in Hunt Valley, Maryland, USA. Founded in 1994, PII can manufacture a
wide range of dosage forms covering solid, semi-solid and aseptic
filling. This service is complemented by full analytical and regulatory
support. For further information about PII go to: www.PiiDDS.com
/ www.pharm-int.com
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, including, but not limited to, obtaining
regulatory approval for its products under development, entering into
partnering agreements, pursuing growth opportunities, and/or other
factors, some of which are outside the control of NexMed, Inc.
NexMed, Inc.
Mark Westgate, 609-371-8123
CFO
mwestgate@nexmed.com
or
Pharmaceutics
International, Inc.
Steve King, 410-584-0001
Senior Vice
President
sjking@pharm-int.com
or
Investor
Relations:
Rx Communications Group, LLC
Paula Schwartz,
917-322-2216
pschwartz@rxir.com
