NEW YORK, Sept. 21, 2004 (PRIMEZONE) -- Lescarden Inc. (OTCBB:LCAR) announced today that it had entered into a license agreement with Valeant Pharmaceuticals International, granting Valeant a 10 year exclusive license to market Lescarden's proprietary product, Catrix7 Wound Dressing throughout Europe.
Catrix7 Wound Dressing is a topically applied biopharmaceutical powder product. The Wound Dressing is indicated for the management of chronic skin wounds including decubitus (pressure) ulcers, venous stasis ulcers and diabetic ulcers as well as second-degree burns and post-radiation dermatitis. This segment of the wound care market is estimated at $10 billion worldwide. This figure is expected to grow with the general aging of the population.
In a 26-week study of the Catrix Wound Dressing with patients suffering from pressure ulcers, 77 percent of participants displayed either complete healing or a dramatic improvement in the severity of their ulcers. It was calculated that treatment with Catrix reduced the overall cost of treating of this type of chronic wound by 38%.
This agreement expands the current relationship between the two companies. Valeant Iberica, a division of Valeant Pharmaceuticals International, currently distributes Catrix in Spain, Portugal, Greece, Cyprus and Malta. The new license agreement expands the distribution to include the 25 European Union member countries as well as the Balkans countries, Russia and the other member countries of the Commonwealth of Independent States.
Lescarden, Inc., is a biotechnology company dedicated to the development of natural, biologic therapies for the chronic wound care, dermatology and osteoarthritis markets. For more information please contact the Company at (212) 687-1050 or visit www.catrix.com.