Apricus Biosciences and NeoPharm Sign Licensing Agreement for Vitaros(R) in Israel for up to $4.35 Million, Plus Royalties

SAN DIEGO, Feb. 14, 2011 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. (“Apricus Bio”) (Nasdaq:APRI), announced today that it has entered into a licensing agreement granting Neopharm Group (“Neopharm”) the exclusive rights to market and sell Vitaros®, Apricus Bio’s treatment for erectile dysfunction (“ED”) and, when and if available, its formulation for the treatment of premature ejaculation (“PE”), in Israel and the Palestinian Territories of the Gaza Strip and the West Bank.