Easton Pharmaceuticals Re- Enters Drug Market, Acquires 50% Ownership Interest In FSAD Drug And Rela
Easton Pharmaceuticals Re- Enters Drug Market, Acquires 50% Ownership Interest In FSAD Drug And Related Patents / Patent Pendings. Drug Subsequently Underwent Clinical Trials At Cedar-Sinai Medical Center, Beverley Hills, CA.
TORONTO--(BUSINESS WIRE)-- Easton Pharmaceuticals (OTC: EAPH - News), a specialty pharmaceutical company that designs, develops, and markets a premium array of topically-delivered therapeutic healthcare products announces It has re-entered the drug market by acquiring a 50 percent ownership interest in a Drug designed to treat (FSAD) Female Sexual Arousal Disorder (FSAD). The acquisition terms are for the issuance of 10,000,000 restricted shares of the company's common stock, previously issued in escrow and an option to purchase additional shares should the drug be developed and brought to a certain stage utilizing FDA protocols.
The Drug, whose name is not being disclosed at this point in time, is a topical Drug that consists of Alprostadil as its main ingredient. The acquisition includes a proprietary delivery system technology encompassing the use of "HA" Hyulronic Acid. The other 50 percent ownership interest of the Drug is owned by a private Canadian Pharmaceutical Company who's name at this point is also being kept private. Easton Pharmaceuticals will need to develop a co-operative collaborating relationship for any additional progress to be made with the Drug. Included with the acquisition of the Drug designed to treat FSAD are certain patents / patent pendings filed in the United States patent office, Canada and in Europe, which includes a transdermal delivery technology which are presently not being used in any of Easton's current product lines. Additional updates on this Drug including disclosing full product name, its patents / patent pendings and future plans will be made available in subsequent press releases and on its updated website to be shortly brought online.
In addition to some initial preliminary studies performed and positive data received, in 2007 and early 2008 the FSAD Drug underwent clinical trials using FDA protocols at Cedars-Sinai Medical Center, located in Beverley Hills, CA. The clinical study was not completed in its entirety and was ended prematurely due to various reasons, none of which were known to be related to any efficacy or safety issues.
The FSAD Drug is a water soluble, non-irritating, gel that is applied directly to the external female genitalia and uses a transdermal delivery system to deliver Alprostadil (0.08%), also known as prostaglandin E1, into the tissue. Alprostadil is a well known vasodilator that has been shown to induce vulvar and clitoral engorgement, increase vulvar erythema and edema, which indicates increased blood flow to the genital area. In preliminary studies, the Drug gel was shown to positively affect sexual arousal and pleasure in a dose dependent manner. Presently there are no products approved by the FDA to treat FSAD, but a similar type product is presently under clinical trials, but using its own proprietary delivery system.
John Adams, CEO of Easton Pharmaceuticals commented, " After lengthy discussions, we are pleased to have finally come to terms and close on the acquisition of this drug which has shown promise in preliminary testing. Although the company must develop a collaborative joint effort with the other 50 percent owner of the Drug who's name is currently being kept private, we believe both companies can assist each other to allow the Drug to be brought to a different stage in development including re-initiating clinical trials." Mr. Adams further commented, "Although we have made the decision to acquire and re-enter into the drug industry as a treatment for FSAD, this does not in any way signify that it is deviating away from developing and bringing to market its "Viorra" product, which is not being classified as a drug requiring time consuming FDA clinical trials for the treatment of FSAD. We believe "Viorra" can be a safe and effective way to help treat the condition of FSAD for certain individuals looking to avoid precarious treatments and side effects."
About Easton Pharmaceuticals Inc
Easton Pharmaceuticals is a specialty pharmaceutical company that designs, develops, and markets a premium array of topically-delivered drugs and therapeutic healthcare products, focused on skin and circulatory conditions that impact a large and expanding number of consumers including health issues related to female and male sexual dysfunction, treatment of certain pain, wound healing, scar and stretch marks, cellulite and varicose veins, the world market for these conditions is in excess of $10 billion.
The company's updated gel formulation is an innovative and thought to be unique transdermal delivery system. Easton Pharmaceuticals' flagship product, VIORRA, is an over-the-counter aid for the treatment to restore and improve vaginal moisture and elasticity which has a very positive effect on women's sexual desire and arousal, FSAD (Female Sexual Arousal Disorder) the world market for these female conditions are in excess of $2 billion. VIORRA is a topical, daily-use product classified by the FDA as containing Generally Recognized as Safe ingredients.
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This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding of discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intent to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing and other risks and uncertainties as stated in the company's financial reports and filings.
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