INNOCOLL, INC. ANNOUNCES ACQUISITION OF MARKETING RIGHTS
INNOCOLL, INC. ANNOUNCES ACQUISITION OF MARKETING RIGHTS TO COLLARX GENTAMICIN SURGICAL IMPLANT
July 14, 2005
ASHBURN, Va., PRNewswire/ ? Innocoll, Inc. announced it has recently signed an agreement with Essex Chemie AG, an affiliated company of Schering-Plough Corporation (NYSE: SGP), under which it will obtain marketing rights to GENTAMICIN SURGICAL IMPLANT. The product was developed using Innocoll?s proprietary collagen-based technology, CollaRx?, and has been approved in 45 countries under different tradenames (COLLATAMP? G, COLLATAMP? EG, SULMYCIN? IMPLANT, GARAMYCIN? SCHWAMM, DURACOL?, DURACOLL?, GENTACOL?, GENTACOLL?, GARACOL?, GARACOLL?, CRONOCOL?) in Europe, Central and South America, Africa and Asia. It is indicated for the treatment and prevention of post-operative acquired infection.
Innocoll will immediately initiate its own sales and marketing of the product in its approved territories. In addition, Innocoll will seek entry into new markets, including the US. Innocoll will also develop new indications for the product including a topical application for the treatment of at-risk or infected leg ulcers.
The transaction took effect on July 1, 2005. Financial terms of the deal were not disclosed.
?This acquisition represents a key step in our transformation to a fully integrated specialty pharmaceutical company,? commented Dr. Michael Myers, President and CEO of Innocoll, Inc. ?This product will provide a platform for our newly formed sales and marketing division, Innocoll Pharmaceuticals, while we make progress with our exciting portfolio of pipeline products focused on the local treatment of infection, pain and wound healing.?
Denise Carter, President of Innocoll Pharmaceuticals, said ?We are gearing up our sales and marketing efforts in key territories, and look forward to providing a new level of support to our loyal, existing customer base in addition to increasing surgeon awareness of a product which, when used in combination with existing prophylactic regimens, has been clinically shown to reduce the incidence of post-operative infection across a variety of surgeries.?
About GENTAMICIN SURGICAL IMPLANT
GENTAMICIN SURGICAL IMPLANT is a biodegradable leave-behind implant impregnated with the broad spectrum aminoglycoside antibiotic, gentamicin, and is indicated as an adjunct to the treatment and prevention of post-surgical acquired infection in both hard and soft tissues. It is based on Innocoll?s CollaRx? technology, a proprietary collagen-based system which locally delivers a wide variety of drug products, and can be formulated for implantable or topical application as a lyophilized sponge or as a cast film.
About Innocoll, Inc.
Innocoll is a privately held, international specialty pharmaceutical company engaged in the development and commercialization of advanced, differentiated medical products using its proprietary collagen-based technologies, CollaRx? and LiquiColl?. For more information, please visit www.innocoll.com. For product or pipeline information, please visit www.innocoll-pharma.com.