DENVER, CO--(Marketwire - February 22, 2010) - Ceragenix Pharmaceuticals, Inc. ("Ceragenix")
(OTCBB: CGXP), a medical device company focused on infectious disease and
dermatology, today announced that it has entered into an exclusive
distribution and supply agreement (the "Agreement") with BexPharm
Pharmaceuticals, Inc. ("BexPharm"), to commercialize EpiCeram®, a
prescription topical cream for treating atopic dermatitis and other dry
skin conditions, in South Korea (the "Territory").
The Agreement grants BexPharm exclusivity in the Territory for the
distribution and marketing of EpiCeram® while Ceragenix will be
responsible for the manufacturing and supply of the product. BexPharm is
also responsible for obtaining regulatory clearance to market EpiCeram®
in the Territory. Financial terms were not disclosed.
Steven Porter, Chairman and Chief Executive Officer of Ceragenix, said, "We
are very pleased to expand our Asian footprint for EpiCeram® by
partnering with BexPharm. BexPharm's management team and capabilities are
impressive and we have a shared vision for the product. We expect South
Korea to be a very strong market for EpiCeram® given the strength of our
partner and the prevalence of eczema in the country."
Mr. Gye-Bum Yoon, President & CEO of BexPharm, said, "EpiCeram® is the
exact type of proprietary product which BexPharm is pursuing to make the
best use of our existing network of specialists with major hospitals in
Korea. We expect that EpiCeram® will be an excellent alternative to
existing treatments as a non-steroidal atopic dermatitis (AD) treatment
product for mild and moderate patients. We believe that EpiCeram® can
take a significant market share in Korea, which is USD $50 million with 20%
annual growth."
About EpiCeram®
EpiCeram® is a topical cream that utilizes Ceragenix's Barrier Repair
Technology. In April 2006, the FDA provided clearance to market
EpiCeram® to improve dry skin conditions and to relieve and manage the
burning and itching associated with various dermatoses including atopic
dermatitis (eczema), irritant contact dermatitis, radiation dermatitis, and
other dry skin conditions by maintaining a moist wound and skin
environment. All of these conditions are associated with a deficient skin
barrier function.
About Ceragenix
Ceragenix Pharmaceuticals, Inc. is a medical device company focused on
infectious disease and dermatology. The Company has two base technology
platforms; Ceragenins™ or ("CSAs") for treatment of infectious disease
and Barrier Repair for the treatment of dermatological disorders including
atopic dermatitis, neonatal skin disorders and others. Ceragenin™
compounds are active against a broad range of gram positive and negative
bacteria. We have used our Ceragenin™ technology to formulate
Cerashield™antimicrobial coatings for medical devices. All Ceragenin™
and Cerashield™ products are currently in the developmental stage.
Ceragenix's patented Barrier Repair technology, invented by Dr. Peter
Elias, is the platform for the development of EpiCeram® which is
currently being marketed by Promius Pharmaceuticals (a wholly owned
subsidiary of Dr. Reddy's Laboratories) in the United States, Pediapharm,
Inc. in Canada and Hyphens Marketing, Ltd. in certain Southeast Asian
countries under exclusive supply and distribution agreements. For
additional information on Ceragenix, please visit www.ceragenix.com.
About BexPharm.
BexPharm Pharmaceuticals Inc. specializes in selling specialty products for
dermatology, gastroenterology and interventional radiology in Korea.
Unlike most Korean pharmaceutical companies, all of which are supplying and
selling generic products, BexPharm is focused on selling only specialty
products to its distinguished network of hospitals and clinicians.
FORWARD LOOKING STATEMENTS
This press release may contain forward-looking statements. These
forward-looking statements are subject to risks and uncertainties that may
cause actual results to differ materially from those expressed or implied
by such forward-looking statements, including, but not limited to, the
following: the ability of the Company to fund its operations beyond
mid-March 2010, the ability of our distributor to obtain regulatory
approval to market EpiCeram® in South Korea; the ability of the Company
to raise sufficient capital to finance its planned activities including
completing development of its Ceragenin technology; the ability of the
Company to meet its obligations under the supply and distribution agreement
with Dr. Reddy's Laboratories; the ability of the Company to retain its
intellectual property from Brigham Young University resulting from
delinquent payments; the ability of the Company to satisfy its outstanding
convertible debt obligations; receiving the necessary marketing clearance
approvals from the FDA and international regulatory authorities; successful
clinical trials of the Company's planned products including, the ability to
enroll the studies in a timely manner, patient compliance with the study
protocol, and a sufficient number of patients completing the studies; the
ability of the Company to commercialize its planned products; the ability
of the Company to successfully manufacture its products in commercial
quantities (through contract manufacturers); market acceptance of the
Company's planned products, the Company's ability to successfully develop
its licensed compounds, alone or in cooperation with others, into
commercial products, the ability of the Company to successfully prosecute
and protect its intellectual property, and the Company's ability to hire,
manage and retain qualified personnel. The aforementioned factors do
represent an all inclusive list. Actual results, performance or
achievements could differ materially from those contemplated, expressed or
implied by the
forward-looking statements contained in this press release. In particular
important factors that could cause actual results to differ materially from
our forward-looking statements including general economic factors, business
strategies, the state of capital markets, regulatory conditions, and other
factors not currently known to us, may be significant, now or in the
future, and the factors set forth in this press release may affect us to a
greater extent than indicated. All forward-looking statements attributable
to us or persons acting on our behalf are expressly qualified in their
entirety by the cautionary statements set forth in this press release and
in other documents that we file from time to time with the Securities and
Exchange Commission including its Annual Report on Form 10-K for the year
ended December 31, 2008, Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K to be filed in 2010. Except as required by law, we do not
undertake any obligation to update any forward-looking statement, whether
as a result of new information, future events or otherwise.
