PuriCore (LSE: PURI), the water-based clean technology company, today announces a marketing partnership agreement with Onset Dermatologics, a leader in the development and commercialization of prescription dermatology products. PuriCore will develop and manufacture a hydrogel dermatologic product for itch symptoms related to atopic dermatitis (eczema). The product will utilise PuriCore’s patented Vashe® Wound Therapy technology. Onset Dermatologics will market and distribute this new Vashe-based formulation as Aurstat® Anti-Itch Hydrogel and as a component of Aurstat Kit, exclusively in the US beginning April 2013.
In February, PuriCore announced receipt of a 510(k) regulatory clearance from the US Food and Drug Administration (FDA) for Vashe Skin and Wound Hydrogel. Under the terms of the agreement, this clearance triggers a milestone payment from Onset Dermatologics. The agreement also includes upfront payments and double-digit royalty payments on future sales of Aurstat Anti-Inch Hydrogel and Austat Kit. All intellectual property related to this dermatologic product remains under the ownership of PuriCore.
Atopic dermatitis is a common chronically relapsing skin disorder characterized by red, inflamed, dry, cracked itching skin. According to market research by Global Business Intelligence, the global atopic dermatitis therapeutics market is valued at greater than $900 million in annual sales. The US remains the largest market for atopic dermatitis therapeutics, currently valued at greater than $400 million. About 6% of the population suffers from atopic dermatitis within seven primary geographies, the US, the UK, Germany, France, Spain, Italy, and Japan. Approximately 25 million patients in these geographies seek treatment from healthcare practitioners each year.
Michael Ashton, Executive Chairman of PuriCore, said:
“Our Vashe technology provides a strong platform for the further development and commercialisation in a variety of health sciences segments. We are confident in our ability to deliver a highly effective hydrogel to manage the itch caused by atopic dermatitis and other dermatoses, and we are equally confident of Onset’s capability and expertise to successfully market and continue to grow sales of this innovative treatment.”
Robert J. Moccia, President of Onset Dermatologics, said:
“This partnership with PuriCore allows us to continue to deliver products that address the needs of millions of patients suffering atopic dermatitis. By addressing their chief complaint of itch, Aurstat has become well-established in the marketplace. PuriCore’s new hydrogel formulation allows us to meet the needs of our customers by offering Aurstat Anti-Itch Hydrogel alone and as part of Aurstat Kit with HylatopicPlus® Cream for convenience to patients and practitioners.”
Susan Stuart/Simon Conway
Victoria Foster Mitchell
+44 (0) 20 7831 3113
Sage Strategic Marketing