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NexMed Announces Patent Allowance for NexACT in Canada
Wednesday, May 05, 2010
San Diego, CA -- NexMed, Inc. (Nasdaq: NEXM), a specialty CRO with a pipeline of products based on the NexACT® technology, today announced that the Canadian Patent Office has issued a Notice of Allowance for NexMed’s patent application entitled, “Crystalline Salts of Dodecyl 2-(N,N-Dimethylamino)-Propionate.” This patent, when issued, will provide Canadian patent protection to May 2020, and is one in a series of patents and pending applications that NexMed owns on the NexACT technology and NexACT-based products under development.
Commenting on today’s news, Dr. Bassam Damaj, President and Chief Executive Officer of NexMed, stated, “The Company has a strong intellectual property position. In addition to the allowance in Canada, we have corresponding coverage and protection for our NexACT technology in the U.S. and other major markets. As we pursue our growth goals, we are aggressively seeking to expand the patent coverage for NexACT and to protect its potential for delivering new classes of drugs and/or via new routes of administration such as oral or subcutaneous delivery.”
About NexMed, Inc.
NexMed is the largest specialty CRO based in San Diego, CA and is one of the industry's most experienced CROs for in vitro and in vivo pharmacology services and research models. The Company’s goal is to generate revenues from the growth of its Discovery Pre-clinical CRO business, while aggressively seeking to monetize its proprietary NexACT drug delivery technology through out-licensing agreements with pharmaceutical and biotechnology companies, worldwide. At the same time, NexMed is actively pursuing partnering opportunities for its NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction and cancer. For further information on NexMed and its subsidiaries, visit the following websites: http://www.nexmed.com or http://www.bio-quant.com.
Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company including but not limited to its ability to obtain and/or enforce patent coverage in major markets.
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