|Access Pharma Regains MuGard Rights in North America|
|Wednesday, 29 July 2009 08:28|
Access Pharma (OTC:ACCP) (ACCP.OB) announced on 7/29/09 that the Company's previously announced licensing agreement with Milestone Biosciences, LLC for the North American rights to commercialize and market MuGard has been terminated. In addition, Frank Jacobucci (formerly President & CEO of Milestone Biosciences), has joined Access as a consultant to assist with reimbursement, manufacturing, commercial launch activities, and ongoing discussions with potential licensee and co-promotion partners for MuGard in North America.
Mr. Jacobucci has over 20 years experience in sales management, including senior sales executive positions at oncology focused companies including MGI Pharma, Genetics Institute, Wyeth Oncology, Aventis, Precision Therapeutics, and CRC Oncology Services.
MuGard is a polymer solution which provides a protective coating for the oral cavity when swirled gently around the mouth that could be expanded into related markets, including dental applications, oral surgery, and other related medical interventions requiring protection of the oral mucosa. The product is formulated as a ready-to-use viscous liquid which is easy to use and carries the added benefit of preventing the incidence of mucositis.
MuGard functions like a liquid Band-Aid to protect the lining of the oral cavity in cancer patients who develop mucositis as a side effect of radiation or chemotherapy, and the product has already received marketing clearance from the FDA through the 510(k) medical device route since the product does not contain active pharmacological substances - resulting in an excellent safety profile for the product.
Previously, Access Pharma announced that the Company will be presenting at the Jesup & Lamont 2009 Growth Stock Conference organized by the LifeTech Capital Group on 7/30/09 at 10:45am (ET). The presentation will occur live and will be held at the Waldorf Astoria Boca Beach Club in Boca Raton, FL.
President & CEO, Jeffrey Davis, stated in the press release for the event that the commercial launch of MuGard has achieved "very significant and positive initial results and feedback" and that "clinical feedback and experience exceeds our expectations."
An updated list of upcoming milestones expected for Access Pharma includes the following:
(1) Final results expected during 3Q09 for SpePharm's post-approval marketing study of MuGard with interim results demonstrating no cases of oral mucositis in 140 patients with head and neck cancer being treated with radiation therapy
(2) Listing on AMEX or Nasdaq exchanges from current OTCBB status during 2H09
(3) MuGard launch in Asia expected during 2H09
(4) A licensing or co-promotional agreement for MuGard in North America following termination of Milestone agreement
(5) During 2H09, the Company plans to start multiple Phase 2 clinical trials evaluating both ProLindac (Europe + Asia) and thiarabine (data expected mid-2010)
(6) Planned sale of the Company's anti-infective dermatology assets (EcoNail - topical econazole and Pexiganan - a novel topical anti-infective)
(7) Licensing discussions for the Company's cobalamin-based nanopolymer drug delivery technology for the oral administration of a basal (long-acting) insulin product following mid-June announcement that two bio-pharmaceutical companies will conduct preclinical, animal studies before proceeding to more formal negotiations
Please visit the stock research section of BioMedReports.com to view or download my 15-page PDF stock profile report for Access Pharma, which includes an earnings model for MuGard through 2012 and other key milestones for the Company. Visit Access Pharma's Pro-Active News Room site for more information, links, videos, and presentations for the Company.
Disclosure: Long ACCP.OB