JUPITER, FLORIDA, March 30, 2009. The Florida based drug delivery company EffRx, Inc. and the pharmaceutical company Nycomed today announced that they have signed an expansion of territories in their licensing deal for EffRx’s proprietary drug EX101 (effervescent alendronate), for the treatment of osteoporosis. A previous licensing agreement covering Europe, Russia, the Middle East, North Africa, Latin America and Canada was signed in January 2009.
Under the terms of the agreement, EffRx will receive from Nycomed additional upfront and milestone payments of up to US$15m. This brings the total for all territories to US$74m in upfront and milestone payments. EffRx will in addition be granted double-digit royalties on future sales of EX101. Nycomed will also sponsor the necessary additional studies required for marketing approval in its territories. The licensing deal now covers the whole world except USA, Japan, South African countries and a few other minor markets.

EX101 is currently in late stage clinical trials. Earlier trials indicate that EX101 has the potential to be “Best in Class” oral bisphosphonate according to EffRx scientists. Final approval and launch in USA is expected in 2010 while submission for European approval is expected by end of 2009.
The growing global osteoporosis market is presently valued at about $7bn per annum.

“We are really pleased with this extended collaboration with Nycomed. EffRx has received strong global demand for EX101, especially in several emerging markets, and we believe that Nycomed is the right company to maximize the penetration in these markets. Our focus will now be to support Nycomed in any areas we can be of assistance and at the same time find the right partner for EX101 in USA and Japan”, commented Christer Rosén, Chairman and CEO of EffRx.



For more information, please contact:

Christer Rosén, CEO
Mobile: +1 561 308 7780
 


Jaap Uittenbogaard, CFO
Office: +1 561 622 0321
 

Notes to editors

About EffRx
EffRx, Inc. is a drug delivery company that utilizes value-added drug delivery technologies to improve the performance of established pharmaceuticals. The company applies its technologies to well-established, proven compounds to develop reformulated products with reduced gastrointestinal side effects, better absorption, and faster onset of action. EffRx develops novel prescription and OTC pharmaceuticals at relatively low development cost and risk, shorter time to market and with premium pricing compared with generics.
EffRx exploits a number of drug delivery technologies, notably soluble effervescent formulations, granules for immediate dispersion, and fast-melt lozenges with an effervescent layer. These technologies are...