NexMed, Inc. (Nasdaq: NEXM), a company with a revenue generating discovery pre-clinical CRO and a pipeline of products based on the NexACT ® technology, today announced that its wholly-owned subsidiary, Bio-Quant has signed a distribution agreement with Cosmo Bio Co., Ltd, under which Cosmo Bio will market Bio-Quant’s discovery and pre-clinical contract research services throughout Japan.
Based in Tokyo, Cosmo Bio is a well established distributor of life sciences products and services to academic researchers, biotechnology and pharmaceutical companies, specializing in oncology, inflammation, immunology and metabolic diseases.
Bassam Damaj, Ph.D., Chief Executive Officer of NexMed, stated, “With the third largest concentration of biotechnology and pharmaceutical companies in the world behind the U.S. and Europe, Japan represents a key growth opportunity for Bio-Quant. As such, we are very pleased to have solidified this partnership with Cosmo Bio. The distribution agreement provides us with a formal presence in Japan, where we have already established an initial foothold with a number of leading Japanese pharmaceutical companies. We look forward to working with the Cosmo Bio team as we further build our customer base, streamline incoming requests and provide centralized customer support.”
About NexMedBased in San Diego, California, NexMed’s goal is to generate revenues from the growth of its discovery pre-clinical CRO business, while aggressively seeking to monetize its proprietary NexACT drug delivery technology through out-licensing agreements with pharmaceutical and biotechnology companies, worldwide. At the same time, NexMed is actively pursuing partnering opportunities for its NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction and cancer. For further information, go to www.nexmed.com and www.bio-quant.com. Forward Looking Statement 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 for a variety of reasons that are outside the control of the Company. For example, and without limitation, there can be no assurance that the Company will be able to implement its growth strategy.