DGAP-News: Apricus Biosciences Announces Sale of Non-Core Assets

| Source: EQS Group AG
Apricus Biosciences, Inc. 

01.04.2013 22:00

Company Executes Core Strategy to Focus on Its Vitaros(R) and Femprox(R) Sexual
Health Products 

SAN DIEGO, 2013-04-01 22:00 CEST (GLOBE NEWSWIRE) --
Apricus Biosciences, Inc. ('Apricus Bio' or the 'Company') (Nasdaq:APRI)
(www.apricusbio.com) today announced the sale of (1) Totect(r) (dexrazoxane
a marketed, injectable treatment for anthracycline extravasation, and (2)
NitroMist(r) (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(r) (alprostadil 0.3% topical cream),
the treatment of erectile dysfunction ('ED'), and on the development of
Femprox(r) (alprostadil 0.4% topical cream), for the treatment of female sexual
arousal disorder ('FSAD'). 

Totect(r) 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(r) by
Biocodex through 2016, in exchange for Apricus Bio's sale of its
commercialization rights to Totect(r) in North America and South America.
NitroMist(r) was acquired by Mist Pharmaceuticals, LLC ('Mist'), a privately
specialty pharmaceutical company. Mist will receive rights to commercialize and
market NitroMist(r) in all countries outside the U.S., Canada and Mexico. 

Richard Pascoe, Chief Executive Officer of Apricus Bio, stated: 'These
transactions are consistent with our planned divestiture of non-core assets and
we are pleased that we were able to sell these products in line with their
initial up-front purchase prices. With the sale of Totect(r) and NitroMist(r),
Apricus' resources are now further focused on the development and
commercialization, through strategic partnerships, of the Company's primary
pipeline assets, particularly Vitaros(r) and Femprox(r) for male and female

About Totect(r)

Totect(r) (dexrazoxane HCl) is an injectable treatment for anthracycline
extravasation. Anthracyclines are among the most used chemotherapy drugs to
treat cancer, and extravasation is the leaking of the chemotherapy from the
patient's veins into the surrounding tissues and other areas of the body.
Totect(r) is the only FDA approved treatment for these complications. For more
information, please visit www.Totect.com. 

About NitroMist(r)

NitroMist(r) (nitroglycerin sublingual spray) is 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). NitroMist(r) was developed using
proprietary technology designed to deliver validated drugs through the highly
absorptive lining of the mouth into the systemic blood circulation. 

About Apricus Biosciences, Inc.

Apricus Biosciences, Inc. (Nasdaq:APRI) is a pharmaceutical company that
develops and markets innovative treatments that help large patient populations
across numerous, large-market therapeutic classes including male and female
sexual health. The Company has one approved product, Vitaros(r), for the
treatment of erectile dysfunction, which will be marketed in Canada by Abbott
Laboratories, and Femprox(r), a product candidate, for the treatment of female
sexual arousal disorder, which successfully completed one approximately
400-patient Phase III study in China. 

For further information on Apricus Bio, visit http://www.apricusbio.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 achieve its development,
commercialization and financial goals, its ability to further develop its
products and product candidates, the timing for the commercial launch of
Vitaros(r) in Canada, and its ability to have its products and product
approved by relevant regulatory authorities, including Europe and Switzerland
and its ability to receive appropriate regulatory guidance on Femprox(r) from
various regulatory authorities, to successfully conduct further clinical trials
with this product and its ability to eventually commercialize Femprox(r).
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. 

         CONTACT: Apricus Bio Investor Relations:
         David Pitts or Lourdes Catala
         Argot Partners
News Source: NASDAQ OMX

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Language:     English
Company:      Apricus Biosciences, Inc.
              United States
ISIN:         US9901429525
End of Announcement                             DGAP News-Service