Acerus Signs License Agreement to Nasal Technology with University of Texas at Austin
TORONTO--(BUSINESS WIRE)--May 30, 2019--
Acerus Pharmaceuticals Corporation (“Acerus” or “the Company”) (TSX:ASP; OTCQB:ASPCF) announced today that it has signed a patent license agreement (the “PLA”) with the University of Texas at Austin for technology related to the nasal administration of testosterone. The newly patented, aqueous-based, nasal delivery technology was developed by Robert Josephs, a UT Austin Professor of Clinical and Social Psychology, and Craig Herman, a Doctor of Pharmacy at MedCara Pharmaceuticals in Conrad, Iowa. Under the PLA, Acerus has licensed worldwide exclusive rights to this technology in all applicable fields.
“We are pleased to have partnered with UT Austin and Professor Josephs for the development of this technology,” said Ed Gudaitis, President & CEO of Acerus. We expect that this new technology will allow us to develop therapeutic options that will complement our existing nasal technology. Acerus’ expertise in the formulation and development of nasally delivered active pharmaceutical ingredients, and more particularly testosterone, should enable Acerus to make this new technology a success.”
About Acerus Pharmaceuticals Corporation
Acerus Pharmaceuticals Corporation is a Canadian-based specialty pharmaceutical company focused on the commercialization and development of innovative, pharmaceutical products that improve patient experience, with a primary focus in the field of men’s health. The Company commercializes its products via its own salesforce in Canada, and through a global network of licensed distributors in the U.S. and other territories.
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the company is subject to a number of risks and uncertainties, including with respect to the future performance of the UT Austin in-licensed technology or its suitability in clinical trials, and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our annual information form dated March 4, 2019 that is available at www.sedar.com . Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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CONTACT: Edward Gudaitis
President & CEO
Acerus Pharmaceuticals Corporation
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY PHARMACEUTICAL
SOURCE: Acerus Pharmaceuticals Corporation
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PUB: 05/30/2019 07:00 AM/DISC: 05/30/2019 07:00 AM