Quigley Corporation Retains Brocair Partners LLC To Provide Strategic Option Evaluations For Quigley Pharma's QR-340 Scar Formula
DOYLESTOWN, Pa., Nov. 3 /PRNewswire-FirstCall/ -- The Quigley Corporation announced today that the Company has retained New York-based Brocair Partners LLC to provide assistance to management in evaluating various strategic options for Quigley Pharma's QR-340 Scar Formula.
Brocair Partners will provide expertise in evaluating strategic options including the potential sale, license, or internal commercialization of the QR-340 Scar Formula for the improvement of the appearance of scars.
Quigley Pharma developed QR-340 through internal research and development. The Company's core business development for its pharmaceutical subsidiary is to focus on bringing its prescription pharmaceutical compounds through the clinical trial process to commercialization. As a result, Brocair Partners will assist The Quigley Corporation in evaluating initiatives to achieve the commercialization of QR-340, which, as a product geared for the over-the- counter (OTC) or cosmetic markets, may potentially be better achieved by a firm that is focused on the branding and distribution of cosmetics and OTC dermatology or skin care products.
"Over 50 Million Americans experience scarring from burns, injuries, and surgeries each year. The estimated current market is $60 million for products that can enhance physical appearance and minimize the appearance of scars. We believe this is an opportunity for QR-340 and we look forward to exploring various strategic options to best capitalize on this formulation," said Guy J. Quigley, President of The Quigley Corporation.
About QR-340
The patent pending QR-340 Scar Formula is a blend of botanical-derived ingredients delivered in an easily applied topical hydrophilic ointment. When applied as directed, QR-340 has been shown to soften tissue to reduce the fibrous appearance of scars.
A recent study showed that QR-340 helps reduce overall scar area post surgery better than placebo or Mederma(R) in every assessment as measured by the 5 cosmetic evaluations. QR-340 was six times more effective then the placebo, twice as effective as Mederma(R) for improving scar width and area appearance, showed positive results earlier than placebo or Mederma(R), and was shown to be safe and well tolerated by the participants. Mederma(R) is a registered trademark of Merz Pharmaceuticals.
About The Quigley Corporation
The Quigley Corporation is a diversified natural health medical science company. Its Cold Remedy segment is a leading marketer and manufacturer of the COLD-EEZE(R) family of lozenges, gums and sugar free tablets clinically proven to cut the common cold nearly in half. COLD-EEZE customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies. The Quigley Corporation has four (4) wholly owned subsidiaries. Darius International markets health and wellness products through its wholly owned subsidiary, InnerLight Inc. Quigley Manufacturing Inc. consists of two FDA approved facilities to manufacture COLD-EEZE(R) lozenges as well as fulfill other contract manufacturing opportunities. Quigley Pharma Inc. (http://www.QuigleyPharma.com) conducts research in order to develop and commercialize a pipeline of patented botanical and naturally derived prescription drugs.
About Brocair Partners LLC
Brocair Partners LLC, based in New York, provides advice on mergers and acquisitions, strategic partnerships, equity and debt financings, and healthcare research and advisory projects to small and middle-market public and private healthcare companies.
Brocair Partners' primary coverage focus is on companies that operate within the following categories: Medical Technology, Biopharmaceuticals, Healthcare Services, and Healthy Consumer Products. By focusing solely on healthcare, Brocair has developed a strategic understanding of the industry and its nuances that enables the firm to evaluate the needs of its clients more accurately. For additional information on Brocair Partners please visit http://www.brocair.com.
The Quigley Corporation makes no representation that the US Food and Drug Administration or any other regulatory agency will grant an Investigational New Drug ("IND") or take any other action to allow its formulations to be studied or marketed. Furthermore, no claim is made that potential medicine discussed herein is safe, effective, or approved by the Food and Drug Administration. Additionally, data that demonstrates activity or effectiveness in animals or in vitro tests do not necessarily mean the formula test compound, referenced herein will be effective in humans. Safety and effectiveness in humans will have to be demonstrated by means of adequate and well-controlled clinical studies before the clinical significance of the formula test compound is known. Readers should carefully review the risk factors described in filings the Company files from time to time with the Securities and Exchange Commission.
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risk, uncertainties and other factors that may cause the company's actual performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.
CONTACT: Carl Hymans G. S. Schwartz & Co. (212)-725-4500 carlh@schwartz.com Gregg Blake Brocair Partners LLC (646) 827-4630 gblake@brocair.com Rusty Ray Brocair Partners LLC (646) 495-1530 rray@brocair.com
The Quigley CorporationCONTACT: Carl Hymans of G. S. Schwartz & Co., +1-212-725-4500,carlh@schwartz.com; or Gregg Blake, +1-646-827-4630, gblake@brocair.com, orRusty Ray, +1-646-495-1530, rray@brocair.com, both of Brocair Partners LLC