NexMed, Inc., 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, announced that the Israel Patent Office has issued an allowance notice for NexMed’s patent application entitled, “Topical Compositions for Prostaglandin E1 Delivery.” The patent, when issued, will provide coverage to May 13, 2019, and expand the protection of NexMed’s Prostaglandin E1 (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.
“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,” said Dr Bassam Damaj, president and chief executive officer of NexMed.
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.