NexMed Inc has entered into an R&D agreement with a major Japanese pharmaceutical company. Pursuant to the terms of this agreement, NexMed will develop a new tape/patch treatment for urinary dysfunction which incorporates the Japanese partner's proprietary drug compound with the NexACT technology. NexMed has received an upfront payment with future periodic payments to be made based on the achievement of certain R&D milestones, and will retain the right to manufacture and commercialize the new product worldwide except in Japan.
The NexACT platform technology may offer significant commercial potential in the development of new and improved topical products where the desired therapeutic effect depends on fast and efficient absorption of active ingredients. NexACT consists of a series of different skin penetration enhancer molecules, and can be formulated in pharmaceutical dosage forms such as creams, patches, lotions, solutions or intranasal sprays.
Dr. Joseph Mo, President and CEO of NexMed said, "We are pleased to provide our Japanese partner access to the NexACT technology." Dr. Mo further added, "We believe NexACT, as a platform technology, represents significant opportunities for major pharmaceutical companies to develop new, potentially-patentable, and patient-friendly topically deliverable products."
NexMed is actively in discussions with potential strategic partners regarding collaborative licensing and/or marketing arrangements for the Alprox-TD and Femprox cream products, which are its proprietary topical treatments for male erectile dysfunction and female sexual arousal disorder, respectively. Both products incorporate alprostadil, a vasodilator, with the NexACT technology.