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Company Strengthens Urological Pipeline with Worldwide Rights to Intra-Nasally Delivered Testosterone Product
BURLINGAME, CA, USA | November 27, 2007 | Urigen Pharmaceuticals, Inc. (OTCBB: URGP, http://www.urigen.com), a specialty pharmaceutical company focused on the development and commercialization of treatments for urological disorders, has in-licensed a Phase II intra-nasal testosterone product for the treatment of male hypogonadism.
The product, Nasobol(R), is licensed from M et P Patent AG. Mattern's novel testosterone replacement therapy is a nasal gel that is administered to both nostrils. Phase II clinical trials in hypogonadal men have demonstrated the formulation is well tolerated and increases total testosterone blood levels in a dose dependent manner. The product will be provided in a convenient unit dose configuration which minimizes the risk of inadvertent transference to others in close contact with the patient.
"The addition of this product to our pipeline provides us with two Phase II programs for urologic disorders. We are honored to be chosen by Mattern to complete the development and commercialization of this very important new product. This license agreement demonstrates Urigen's commitment to achieve its goal of becoming the preferred specialty pharmaceutical company servicing the urology market," said William J, Garner, MD, President and CEO of Urigen.
"We believe there is great opportunity for Urigen to move forward with our intra-nasal testosterone product," commented Udo Mattern, Chairman and CEO of Mattern. "We selected Urigen because of their level of expertise and focus on developing products for urological disorders."
"Licensing this product is a very significant milestone for Urigen," said Dennis Giesing, PhD, Chief Scientific Officer of Urigen. "We believe intra-nasal testosterone has important characteristics that will provide advantages over currently approved and in development testosterone replacement products; thus enabling us to successfully compete in the marketplace."
Under the terms of the agreement, Urigen has acquired worldwide rights to develop and commercialize intra-nasal testosterone for the treatment of males. In exchange, Mattern will receive an undisclosed up-front number of Urigen common shares and will receive additional milestone payments based on certain development and regulatory milestones. In addition, Mattern will receive royalties on net sales of the product until an undisclosed pre-determined amount of royalties has been paid. Mattern was advised by Kurman Iseli & Partner AG.
About Urigen Pharmaceuticals, Inc.
Urigen Pharmaceuticals is a specialty pharmaceutical company dedicated to the development and commercialization of therapeutic products for urological disorders. Urigen's two lead programs target significant unmet medical needs and major market opportunities in urology. Urigen's URG101 project targets painful bladder syndrome/interstitial cystitis, which affects approximately 10.5 million men and women in North America. Urigen's URG301 project targets acute urgency in patients diagnosed with an overactive bladder, another major unmet need that is insufficiently managed by presently available overactive bladder drugs. URG301 is a proprietary dosage form of an approved drug that is locally delivered to control urinary urgency. For further information, please visit Urigen's website at http://www.urigen.com.
About M et P Patent AG
M et P (www.mattern-pharmaceuticals.com ) owns a proprietary nasal drug delivery technology. Apart from the product Nasobol(R) and based on that technology, the Company develops drugs especially to improve Central Nervous System disorders.
Forward-Looking Statement
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SOURCE: Urigen Pharmaceuticals, Inc. |
