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PhotoCure Announces First Commercial Sale of Allumera(R) in the US
5/27/2011 12:07:25 PM
Oslo, Norway, 27 May - Photocure ASA (OSE:PHO), a Norwegian specialty pharmaceutical company specializing in dermatology and cancer, is pleased to announce the first commercial sale of Allumera® by its US specialty dermatology organization.
Allumera is a topical cream representing the first in a new class of photodynamic cosmetics which has been clinically proven to improve the overall appearance of skin, visibly reduce the outward signs of aging and reduce the appearance of pores. Treatment with Allumera is non invasive and has minimal down time as compared to more aggressive cosmetic procedures.
In the US, Allumera will compete in the growing market of cosmetic dermatology procedures, currently valued at an estimated $4B. Allumera will be sold to aesthetic dermatology practices across the US at a price per unit of $120, which establishes it as an attractive addition to the cosmetic armamentarium available to dermatologists today.
"Today marks a significant milestone for Photocure on its journey to establish our US dermatology footprint," said Kjetil Hestdal, President and CEO of Photocure.
Plans are on track for the full commercial launch in June. The US management team is in place, led by Terry Conrad, and the hiring and training of ten sales representatives is underway. Photocure will focus its initial efforts to approximately 1,500 dermatologists who perform the highest volumes of cosmetic procedures. More than fifteen studies are in various stages and already generating scientific data that will drive the adoption of Allumera.
Hestdal adds "By launching Allumera in the US, Photocure has completed a key step in its strategic plan to transform the company from an R&D organization into a specialty pharmaceutical company."
Photocure is a Norwegian speciality pharmaceutical company listed on the Oslo Stock Exchange (OSE: PHO). The company is focused on photodynamic technologies in dermatology and cancer.
Photocure's commercial activities includes own marketing and sales in selected markets as well as out-licensing to leading pharmaceutical companies on a regional or global basis prior to Phase III.
Photocure has one proprietary pharmaceutical product on the market: Hexvix®, for the diagnosis of bladder cancer. Hexvix® is approved in Europe and in the US. In addition, the company has developed a proprietary light source, which is used in combination with the Visonac(TM) cream. Through worldwide studies, Photocure is continuously testing its products for new indications, and the aim is to develop a pipeline of follow-on products based on the Photocure Technology(TM) platform. Photocure® and Hexvix® are registered trademarks of Photocure ASA.
For more information about Photocure, visit our website at www.photocure.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)