SAN DIEGO, March 22, 2012 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. ("Apricus Bio" or the "Company") (Nasdaq:APRI) (http://www.apricusbio.com), announced today that the European Patent Office ("EPO") has issued an official decision to allow the Company's patent application entitled, "Method for the Manufacture of Dodecyl 2-(N,N-Dimenthylamino)-Propionate." The allowed patent application is a divisional of a Company-owned European patent issued in 2000 entitled "Crystalline Salts of Dodecyl 2-(N,N-Dimenthylamino)-Propionate" that protects the DDAIP.HCl compound and method of manufacture.
The recently allowed divisional application covers the transesterification approach to synthesizing DDAIP (the main chemical penetration enhancing compound used in the Company's NexACT® technology) and results in a product containing relatively lower levels of by-products and unreacted reactants, which are undesirable and difficult to remove by conventional methods. This may result in significant cost savings on the finished product. This patent, when issued, will provide European patent protection to March 2020 and will be the 16th patent granted for this technology worldwide, with three applications pending in this patent family.
Dr. Bassam Damaj, Chairman, President and Chief Executive Officer of Apricus Bio, commented, "We are very pleased to receive this additional important patent in Europe for the manufacture of a core component of our NexACT® technology. When issued, this patent will allow us to further protect the manufacture of DDAIP as well as the manufacture of the crystalline form of DDAIP. DDAIP in these two forms (one a liquid and the other a salt) allow for different pharmaceutical applications."
About Apricus Biosciences, Inc.
Apricus Bio is a San Diego-based revenue-generating hybrid specialty pharmaceutical company, with commercial products and a broad pipeline across numerous therapeutic classes.
Revenues and growth are driven from the sales of the Company's commercial products through its Apricus Pharmaceuticals USA, Inc. and NexMed (USA), Inc. subsidiaries and through out-licensing in certain territories of its product pipeline and NexACT® technology.
Apricus Bio's current NexACT® pipeline includes Vitaros®, approved in Canada for the treatment of erectile dysfunction, as well as compounds in development from pre-clinical through pre-registration currently focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain, Anti-Infectives, Diabetes and Consumer Healthcare.
Apricus Bio currently markets Totect® (dexrazoxane HCl), the only drug approved in the US for the treatment of anthracycline extravasation. The Company also plans to market in the U.S. or certain other countries the following products: (a) Granisol® (granisetron HCI) oral solution, the only FDA-approved, oral, ready-to-use liquid solution of granisetron, (b) Aquoral™, an FDA-cleared, prescription-only spray for the treatment of Xerostomia (the medical term for dry mouth due to a lack of saliva) and (c) NitroMist® (nitroglycerin sublingual spray), an FDA-approved nitrate vasodilator indicated for acute relief of an attack or acute prophylaxis of angina pectoris (chest pain) due to coronary artery disease (narrowing of the blood vessels that supply blood to the heart).
The Company also expects to develop and/or acquire and then bring to market additional pharmaceutical products in areas of care that will benefit patient needs worldwide.
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.
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 further develop its products and product candidates, to have its products and product candidates receive patent protection and be approved by relevant regulatory authorities, to successfully commercialize such products as Totect®, Granisol®, Aquoral™ and NitroMist™ and Vitaros® for erectile dysfunction and NexACT® product candidates and drug delivery technology and to achieve its 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.