LA JOLLA, Calif., Feb. 28, 2013 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals, Inc. ("Innovus Pharma"), www.innovuspharma.com , (OTCBB:INNV) today announced that it has signed a binding term sheet with Centric Research Institute ("CRI") for over $7.5 US million in upfront, milestones and sales royalty payments, in order to acquire global ex- U.S. rights to the proprietary U.S. marketed skin cream, CIRCUMserum™.
The skin cream, CIRCUMserum™ is a patent-pending new formulation of essential natural ingredients. The cream moisturizes the head of the penis, making the skin softer and more sensitive. In a use study by urologists in the US after the product was launched in 2012, 80% of regular users reported heightened sensations and greater sexual satisfaction.
"This product can make a difference in people's lives," said Dr. Bassam Damaj, Chief Executive Officer of Innovus Pharma. "Over time, the circumcised penis can become calloused, reducing sensitivity. CIRCUMserum™ restores that natural sensation, which helps both to achieve orgasm and to maintain erections."CIRCUMserum™ is expected to be especially effective in circumcised men, whose penises lose sensitivity over time without the protective foreskin, and in men with diabetes, who have a high incidence of erectile dysfunction because of neuropathy of the extremities. "Diabetic men are an important target population for us," said Damaj. "Although not currently needed to market the product and to follow up on the encouraging initial use study, we are planning for a larger, more controlled clinical study this year," Damaj added. "The larger trial will be designed to provide support for a claim for increased sensation and blood flow. "We are pleased with this partnership with Innovus Pharma and especially with Dr. Damaj who has an excellent track record of approving products in this area and an outstanding record of commercial partnerships with large pharma and distributors in the Middle East and North Africa where most of the target population exists," commented Dr. Albert Liu, CEO of CRI. "In addition, all of the product ingredients are listed by the Food & Drug Administration ("FDA") as GRAS (Generally Recognized as Safe), and since we are not making any drug claims, the product is not required to gain New Drug Application approval from the FDA."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV