BioSante Pharmaceuticals Signs Option and License for its CaP Technology for Use in Aesthetic Medicine
February 27 2006 - 7:00AM
Business Wire
BioSante Pharmaceuticals, Inc. (Amex:BPA) today announced that it
has signed an exclusive option and license agreement with Medical
Aesthetics Technology Corporation ("MATC") for the use of
BioSante's calcium phosphate nanotechnology (CaP) in the field of
aesthetic medicine. Under the terms of the option and license
agreement, MATC will use BioSante's CaP technology to develop
products for commercialization in the field of aesthetic medicine,
specifically, the improvement and/or maintenance of the external
appearance of the head, face, neck and body. Within the first 12
months MATC has the exclusive right to exercise an option to secure
a license to this technology in the field of aesthetic medicine
upon payment to BioSante of a license fee. BioSante has the right
to receive additional milestone payments upon approval by the U.S.
Food and Drug Administration or first commercial sale of each
product containing CaP, a royalty on net sales of any such
products, and a share of any milestones and license fees from third
party sublicenses. Stephen M. Simes, BioSante's president and chief
executive officer, stated, "The area of aesthetic medicine is
growing both in prescription and non-prescription products. We are
pleased to be working with MATC in this potential new use for our
CaP technology in this growing market. This new CaP Option and
License Agreement is another step in our strategic effort to
maximize the value of CaP to our stockholders." About BioSante
Pharmaceuticals, Inc. BioSante is developing a pipeline of hormone
therapy products to treat both men and women. These hormone therapy
products are gel formulations for transdermal administration that
deliver bioidentical estradiol and testosterone. BioSante's lead
products include Bio-E-Gel(TM) (bioidentical estradiol gel) for the
treatment of women with menopausal symptoms, and LibiGel(TM)
(bioidentical testosterone gel) for the treatment of female sexual
dysfunction (FSD). The current market in the U.S. for estrogen and
testosterone products is approximately $2.5 billion. The
transdermal gel formulations used in the women's gel products are
licensed by BioSante from Antares Pharma Inc. BioSante also is
developing its calcium phosphate nanotechnology (CaP) for novel
vaccines, including biodefense vaccines for toxins such as anthrax
and ricin, and drug delivery systems. Additional information is
available online at: www.biosantepharma.com. About Medical
Aesthetic Technologies Corporation Medical Aesthetic Technologies
is engaged in research and development to produce novel products in
the field of aesthetic medicine. MATC has assembled a team of
accomplished professionals out of Harvard and MIT with expertise in
the aesthetic field as well as technology development. This news
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. The
statements regarding BioSante contained in this press release that
are not historical in nature, particularly those that utilize
terminology such as "may," "will," "should," "likely," "expects,"
"anticipates," "estimates," "believes" or "plans," or comparable
terminology, are forward-looking statements. An example of a
forward-looking statement in this press release is the statement
that the market for aesthetic prescription and non-prescription
products is growing. Forward-looking statements are based on
current expectations and assumptions, and entail various risks and
uncertainties that could cause actual results to differ materially
from those expressed in such forward-looking statements. Important
factors known to BioSante that cause actual results to differ
materially from those expressed in such forward-looking statements
are the difficulty of developing pharmaceutical products, obtaining
regulatory and other approvals and achieving market acceptance, and
other factors identified and discussed from time to time in
BioSante's filings with the Securities and Exchange Commission,
including those factors discussed on pages 22 to 34 of BioSante's
most recent Form 10-Q, which discussion also is incorporated herein
by reference. All forward-looking statements speak only as of the
date of this news release. BioSante undertakes no obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
Biosante Pharma (AMEX:BPA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Biosante Pharma (AMEX:BPA)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Biosante Pharmaceuticals (American Stock Exchange): 0 recent articles
More BioSante Pharmaceuticals, Inc. News Articles