PRINCETON, N.J., Nov. 4 /PRNewswire-FirstCall/ -- Barrier Therapeutics, Inc. , a pharmaceutical company developing products in the field of dermatology, today announced that it has signed a Distribution and License Agreement with Grupo Ferrer Internacional, S.A of Barcelona, Spain. The agreement provides for Ferrer to be Barrier's exclusive marketer and distributor of Barrier's Zimycan(TM), Sebazole(TM), Liarozole, and Ketanserin products in several countries throughout Europe, Latin America and Africa.
Under the agreement, Barrier will receive its primary revenues from the sale of finished product to Ferrer. Additionally, Ferrer will provide milestone payments and royalties on product sales. In addition to marketing and distributing the products, Ferrer will assist Barrier in obtaining regulatory approvals for the products in the territory.
"This agreement provides Barrier with access to the sales and marketing power of one of the leading dermatology companies in Europe and Latin America and is an important step forward in establishing an international brand and commercialization network for Barrier's products," said Al Altomari, Chief Commercial Officer of Barrier Therapeutics. "Grupo Ferrer has a proven track record of success in developing and marketing dermatology products in these territories and will utilize an extensive network of distribution affiliates, as well as their direct sales organization. We are extremely pleased to partner with them in commercializing these four Barrier products."
"Barrier has established a portfolio of dermatology products that have significant potential for positively impacting current approaches to dermatologic conditions. We are excited to have the opportunity to access these products and are looking forward to working closely with Barrier in maximizing the commercial potential of this dermatology portfolio," stated Carlos de Lecea, Vice President, International and Business Development for Ferrer.
The first European approval for Zimycan(TM), Barrier's miconazole and zinc oxide ointment for Candida-associated diaper dermatitis, was received in Belgium in May 2004 and subsequent marketing approvals are expected from additional countries in the European Union under the mutual recognition procedure in the coming months. A confirmatory Phase III trial for Sebazole(TM), a topical ketoconazole gel for the treatment of seborrheic dermatitis, is being completed in the United States. Liarozole, which has received orphan drug designation from the Commission of the European Community, is being developed for the treatment of congenital ichthyosis. Ketanserin is a serotonin II antagonist for the treatment of chronic skin ulcers.
About Grupo Ferrer Internacional, S.A.
Grupo Ferrer is made up of 30 companies operating in Pharmaceuticals, Food and Fine Chemicals, with the overall aim to improve people's health and quality of life. Thanks to its policy of continuous expansion in the world, today it has a strong industrial and commercial structure in Europe as well as long commercial experience in South America, Africa and in the Middle and Far East.
Grupo Ferrer's pharmaceutical research takes place in two European centers. The main one is in Barcelona (Spain), where the all-round research of new drugs is carried out, from an initial idea to its clinical development and registration. The center in Alsdorf (Germany) is specialized in new applications of pharmaceutical technology. Besides these two centers, Grupo Ferrer has set up a large number of collaborations with pharmaceutical companies and universities all over the world.
About Barrier Therapeutics, Inc.
Barrier Therapeutics, Inc. is a pharmaceutical company focused on the discovery, development and commercialization of innovative pharmaceutical products to treat diseases of the skin. The Company has eight product candidates in various stages of clinical development. The four most advanced product candidates, which are in or entering Phase III clinical trials, are under development for the treatment of Candida-associated diaper dermatitis, seborrheic dermatitis, fungal infections, including vaginal candidiasis and onychomycosis, and congenital ichthyosis. Barrier has product candidates in earlier stages of clinical development for the treatment of acne, psoriasis, fungal infections, allergies and dermatitis. The Company is headquartered in Princeton, New Jersey and has a wholly owned subsidiary in Geel, Belgium. Website: http://www.barriertherapeutics.com/
Safe Harbor Statement
In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995, including statements regarding the prospects and timing for receiving regulatory approval. Forward-looking statements provide Barrier's current expectations or forecasts of future events. Barrier's performance could differ materially from those reflected in these forward-looking statements due to European regulatory activities. For a discussion of these and other risks and uncertainties that may effect the forward-looking statements please see the risk factors in Form 10-Q for the quarterly period ended June 30, 2004, which is on file with the Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Barrier undertakes no obligation to update publicly any forward-looking statement.
Barrier Therapeutics, Inc.
Anne M. VanLent
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Barrier Therapeutics, Inc.