Transdel Pharmaceuticals Enters into License Agreement with Jan Marini Skin Research for Cosmeceutical Product
LA JOLLA, Calif., June 17 Transdel Pharmaceuticals, Inc. (OTC Bulletin Board: TDLP) ("Transdel") and Jan Marini Skin Research, Inc. ("JMSR") have entered into a licensing agreement providing JMSR with the exclusive U.S. rights to Transdel's transdermal delivery technology for use in an anti-cellulite cosmeceutical product for the dermatological market.
Under the terms of the agreement, JMSR will pay Transdel a licensing royalty on the U.S. and worldwide sales of an anti-cellulite product using Trandel's delivery technology. JMSR obtained an exclusive right to promote and sell a product in the U.S. dermatological market for approximately one-year after which time they have a non-exclusive right. Also, JMSR obtained a non-exclusive right to promote and sell the product in the ex-U.S. dermatological market.
"We are very excited with the establishment of our relationship with JMSR and look forward to building on this relationship in order to potentially launch additional cosmeceutical products," stated John Lomoro, Acting Chief Executive Officer and Chief Financial Officer. "They are a recognized leader in the dermatological market, so we are confident they will fully capitalize on the potential for this anti-cellulite technology."
"We believe that Transdel's anti-cellulite technology has the potential to provide us with an excellent opportunity in the dermatological market not only in the U.S. but also for the international market," stated Jan Marini, JMSR's President and Chief Executive Officer. "We look forward to collaborating with Transdel on this project and potentially other product opportunities."
About Transdel Pharmaceuticals, Inc.
Transdel Pharmaceuticals, Inc. (OTCBB: TDLP) is a specialty pharmaceutical company developing non-invasive, topically delivered products. The Company's innovative-patented Transdel(TM) cream formulation technology is designed to facilitate the effective penetration of a variety of products through the tough skin barrier. KetotransdelŪ, the Company's lead pain product, has completed a Phase 3 clinical trial and utilizes the Transdel(TM) technology to deliver the active drug, ketoprofen, a non-steroidal anti-inflammatory drug through the skin directly into the underlying tissues where the drug exerts its well-known anti-inflammatory and analgesic effects. The Company intends to leverage its Transdel(TM) platform technology to expand and create a portfolio of topical products for a variety of indications. The Company is actively pursuing partnerships with companies to expand its product portfolio for pharmaceutical and cosmetic/cosmeceutical products. For more information, please visit http://www.transdelpharma.com.
About Jan Marini Skin Research, Inc.
San Jose, CA-based Jan Marini Skin Research, Inc. ("JMSR") is a recognized leader and innovator in skin care, providing state-of-the-art technologies and breakthroughs in medically based skin care therapies. The JMSR Skin Care Management Center is used and trusted by physicians and skin care professionals worldwide to ensure optimum results for their patients and clients.
Safe Harbor Statement
The Company cautions you that the statements included in this press release that are not a description of historical facts are forward-looking statements. These include statements regarding: the Company's interpretation of the results of its Phase 3 clinical trial for KetotransdelŪ; the Company's ability to obtain regulatory approval to market Ketotransdel; and the Company's ability to complete additional development activities for products utilizing its proprietary transdermal delivery platform. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in the Company's business, including, without limitation: the outcome of the final analyses of the data from the Phase 3 clinical trial may vary from the Company's initial conclusions; the FDA may not agree with the Company's interpretation of such results or may challenge the adequacy of the Company's clinical trial design or the execution of the clinical trial; the FDA may continue to require the Company to complete additional clinical trials for KetotransdelŪ before the Company can submit a 505(b)(2) NDA application; the results of any future clinical trials may not be favorable and the Company may never receive regulatory approval for KetotransdelŪ; and the Company's current need to raise additional funding to complete its product development plans. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q filed with the SEC. Such documents may be read free of charge on the SEC's web site at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
SOURCE Transdel Pharmaceuticals, Inc.
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