NexMed Inc, a developer of innovative transdermal treatments, has filed an Investigational New Drug (IND) application for InnoNyx, the Company's proprietary nail lacquer treatment for onychomycosis (nail fungal infection) at the UBS 2004 Global Life Sciences Conference, New York City.

"The early clinical results on InnoNyx are encouraging and suggest that the product may be an effective treatment for nail fungal infections. We look forward to working closely with the FDA to meet the regulatory requirements necessary to bring this therapy to the US market," stated Ken Anderson, NexMed's vice president for Commercial Development.

Onychomycosis is a fungal infection affecting the toenails and/or fingernails. Nail fungus can be painful, embarrassing, expensive and difficult to treat. A 1998 American Journal of Dermatology article estimated costs of monitoring and treatment of nail fungus ranged between $700 and $1,200 per patient annually. The current market for this therapeutic indication is estimated to be approximately $1.5 billion worldwide, with one oral medication dominating the market.

NexMed Inc is an emerging pharmaceutical and medical technology company with a product development pipeline of innovative treatments based on the NexACT transdermal delivery technology. Its lead NexACT product under development is the Alprox-TD cream treatment for erectile dysfunction.