NexMed, Inc. (Nasdaq: NEXM), a specialty CRO and a developer of products based on the NexACT ® technology, today announced that it has expanded its San Diego facilities to accommodate an increase in demand for its pre-clinical research services. Bio-Quant now has approximately 28,000 sq. ft of modern, state-of-the-art laboratory, vivarium and office space.
Dr. Bassam Damaj, President and Chief Executive Officer of NexMed, stated, “Our Bio-Quant business has experienced continuous growth during the past five years, including an increase of over 20% in revenues in 2009, alone. This has been achieved, in part, through a prior diversification of our service capabilities and entrance into new geographical markets. The ongoing expansion of our facilities is in response to the rising demand for the specialized services that we offer.”
About NexMed, Inc.
NexMed is the largest specialty CRO based in San Diego, CA and is one of the industry's most experienced CROs for in vitro and i n vivo pharmacology services and research models. The Company’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 on NexMed and its subsidiaries, visit the following websites: http://www.nexmed.com or http://www.bio-quant.com.Forward-Looking Statement Safe Harbor 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 continue growing its CRO business.