NexMed Announces Expansion of Its Bio-Quant Subsidiary Facilities
April 09 2010 - 8:00AM
Business Wire
NexMed, Inc. (Nasdaq: NEXM), a specialty CRO and a developer of
products based on the NexACT® technology, today announced that it
has expanded its San Diego facilities to accommodate an increase in
demand for its pre-clinical research services. Bio-Quant now has
approximately 28,000 sq. ft of modern, state-of-the-art laboratory,
vivarium and office space.
Dr. Bassam Damaj, President and Chief Executive Officer of
NexMed, stated, “Our Bio-Quant business has experienced continuous
growth during the past five years, including an increase of over
20% in revenues in 2009, alone. This has been achieved, in part,
through a prior diversification of our service capabilities and
entrance into new geographical markets. The ongoing expansion of
our facilities is in response to the rising demand for the
specialized services that we offer.”
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. For
example, and without limitation, there can be no assurance that the
Company will be able to continue growing its CRO business.
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