NexMed, Inc. (Nasdaq: NEXM), backed by a revenue generating CRO business and seeking to leverage its proprietary, multi-route NexACT ® drug delivery technology and internal pipeline through out-licensing arrangements and partnerships, today announced that the Israel Patent Office has issued an allowance notice for NexMed’s patent application entitled, “Topical Compositions for Prostaglandin E 1 Delivery.” The patent, when issued, will provide coverage to May 13, 2019, and expand the protection of NexMed’s Prostaglandin E 1 (alprostadil)-based products in Israel to seven granted patents. NexMed has several alprostadil-based treatments under development, including Vitaros ®, for the treatment of erectile dysfunction; Femprox ®, for female sexual arousal disorder, and RayVa ™, for Raynaud’s syndrome.
Commenting on today’s news, Dr. Bassam Damaj, President and Chief Executive Officer of NexMed, stated, “This addition to our patent portfolio strengthens our intellectual property position and bolsters our ongoing partnering discussions for the licensing of our products in Israel and the Middle East.”
About NexMed, Inc.
Backed by a solid, revenue generating CRO business, NexMed has leveraged the flexibility of its proven NexACT ® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes. Future growth will be driven primarily through out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies, worldwide. Concurrently, the Company is seeking to monetize its existing product pipeline, including compounds from pre-clinical through Phase 3, currently focused on dermatology, 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, including but not limited to, its ability to obtain and/or enforce patent coverage or partner in international markets.