SOUTH SAN FRANCISCO, Calif. and RICHMOND HILL, Ontario, Dec. 11 /PRNewswire-FirstCall/ -- Anesiva, Inc. and Medical Futures Inc. today announced an agreement granting an exclusive license to Medical Futures for the marketing and distribution of Anesiva’s Zingo(TM) (lidocaine hydrochloride monohydrate) powder intradermal injection system in Canada. Under the terms of the agreement, Medical Futures will be responsible for all regulatory filings, marketing, distribution and selling in Canada.
“We are aggressively pursuing licensing agreements worldwide for Zingo(TM) with the goal of making this drug globally available in an efficient manner in order to maximize its potential market share,” said John P. McLaughlin, chief executive officer of Anesiva. “Our collaboration with Medical Futures’ enthusiastic and capable team lays the groundwork for expanding access to this new needle-free technology to all of North America. We continue to build upon our previously announced plans to commercialize Zingo(TM) in the U.S., and ultimately provide additional value to our stockholders.”
“We are pleased to work with Anesiva to bring Zingo’s breakthrough needle-free pain relief in order to reduce the pain and anxiety many Canadian patients experience when undergoing peripheral venous access procedures. Our first priority will be to work with Health Canada to get Zingo(TM) approved in Canada with the goal of making this product available to pediatric and adult patients quickly,” said Par Nijhawan, chief medical officer for Medical Futures. “We believe today’s agreement presents significant advantages for both companies, and we look forward to successfully commercializing Zingo(TM) in this market and establishing an enduring partnership with Anesiva.”
Under the scope of this agreement, Anesiva is entitled to an undisclosed up-front payment and a fixed transfer price. Medical futures will be responsible for all the costs associated with regulatory, distribution, marketing and selling activities.
About the Canadian Market for Topical Local Anesthetics
Zingo(TM) has the potential to address a significant unmet need associated with reducing the pain of blood draws and IV cannulation procedures in Canada. About one in 10 children in Canada develop severe needle phobia by age four that continues into adulthood. In addition, recently established guidelines for the use of topical local anesthetics, including those from American Academy of Pediatrics and Infusion Nurses Society, are expected to positively impact the uptake of Zingo(TM) in North American markets.
About Zingo(TM)
Zingo(TM) is an easy-to-administer, single-use, needle-free system that delivers sterile lidocaine powder into the epidermis of the skin and provides topical, local analgesia. Zingo(TM) rapid onset of action allows intravenous line placement or venipuncture to begin one to three minutes after administration. Zingo(TM) was approved by the U.S. Food and Drug Administration (FDA) in August 2007 to reduce the pain associated with peripheral IV insertions or blood draws in children three to 18 years of age. Anesiva expects Zingo(TM) to be available for sale in the U.S. in the second quarter of 2008.
About Medical Futures Inc.
Medical Futures Inc. is a niche pharmaceutical company that distributes both pharmaceutical and natural therapeutic products into the gastrointestinal marketplace. Founded in 2000, this privately held company is dedicated to advancing the quality of life for all Canadians. For more information about Medical Futures, go to http://www.medfutures.com.
About Anesiva and its Diverse Pipeline of Pain Products
Anesiva, Inc. is a late-stage biopharmaceutical company that seeks to be the leader in the development and commercialization of novel therapeutic treatments for pain. The company has one FDA-approved product, Zingo(TM), for the reduction of pain associated with peripheral venous access procedures in children ages three to 18. The second product in Anesiva’s pipeline, Adlea(TM), has been shown to reduce pain after only a single administration for weeks to months in multiple settings in numerous mid-stage clinical trials for site-specific, acute and chronic, moderate-to-severe pain. Anesiva is based in South San Francisco, CA. For more information about Anesiva’s leadership in the development of products for pain management, and an overview of the clinical challenges being addressed by its product candidates, go to http://www.anesiva.com.
Anesiva Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the timing and results of our clinical trials, whether Anesiva is able to manufacture its products on commercially reasonable terms and the degree to which Zingo gains market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Additional information concerning these and other risk factors is contained in Anesiva’s quarterly report on Form 10-Q for the quarter ended September 30, 2007.
Anesiva undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
CONTACT: investors, Jennifer Cook Williams, +1-650-624-9600,
investors@anesiva.com, or media, Carolyn Wang of WeissComm Partners,
+1-415-946-1065, cbwang@wcpglobal.com, both for Anesiva, Inc.; or Bipin
Kothyari, VP Marketing & Sales of Medical Futures Inc., +1-905-731-0294
bipin@medfutures.com
Web site: http://www.anesiva.com/
http://www.medfutures.com/
