ADDISON, Texas, July 11 /PRNewswire-FirstCall/ -- ULURU Inc. today announced that it has commenced the development of a range of consumer pharmaceutical products under a development agreement signed with a major consumer pharmaceutical company.
The initial developments are focused on utilizing our nanoparticle elastic adhesive gel, which offers the potential to significantly extend the time that a flexible film stays in contact with the skin, to release active compounds. Under the terms of the agreement ULURU will receive payments for the development activities and has granted its development partner a period of exclusivity to enter a potential licensing agreement.
Commenting on the agreement Kerry P. Gray, President and CEO of ULURU Inc., stated "This is an important validation of our nanoparticle elastic gel technology. Considerable interest has been expressed in this technology by both consumer product and dermatology companies as the gel offers the potential to extend the delivery of actives to the skin surface. Both the gel technology and our erodible film technology give us the potential to develop a range of differentiated consumer pharmaceutical products with a significant period of patent protection. We continue to explore extensions of our technology applications into the consumer pharmaceutical market as this offers the potential to accelerate product revenue."
The nanoparticle elastic gel forms a transparent adhesive film that can be spread on intact skin or superficial non-exudating wounds. The film can be applied to irregular surfaces such as joints without impairing movement and deliver active compounds for extended periods of time. Potential uses of the elastic gel include treatment of acne, psoriasis, skin irritation, scar management and cold sores.
About ULURU Inc.:
ULURU Inc. is an emerging specialty pharmaceutical company focused on the development of a portfolio of wound management, plastic surgery and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative transmucosal delivery system and Hydrogel Nanoparticle Aggregate technology. For further information about ULURU Inc., please visit our website at http://www.uluruinc.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, including but not limited to statements made relating to potential licensing arrangements, potential uses for our nanoparticle elastic gel technology, interest expressed in this technology, and the potential for accelerated product revenue. These statements are subject to numerous risks and uncertainties, including but not limited to the risk factors detailed in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2006, Quarterly Report on Form 10-QSB for the quarter ended March 31, 2007 and other reports filed by us with the Securities and Exchange Commission.
Contact: Company Kerry P. Gray President & CEO Terry K. Wallberg Vice President & CFO (214) 905-5145
ULURU Inc.CONTACT: Kerry P. Gray, President & CEO, or Terry K. Wallberg, VicePresident & CFO, both of ULURU Inc., +1-214-905-5145
Web site: http://www.uluruinc.com/
