LANGHORNE, Pennsylvania, July 23, 2013 /PRNewswire/ --
Alliqua, Inc. (OTCQB: ALQA) ("Alliqua" or the "Company") today announced the initiation of a preclinical proof-of-principle study of an experimental hydrogel patch containing lidocaine. Safety and tolerability of Alliqua's lidocaine hydrogel patches will be explored in an animal model. Further, the pharmacokinetic profile will be analyzed to determine the amount of systemic absorption and local lidocaine concentration in the skin immediately beneath the patch.
"The ease of use, stability and compatibility with active ingredients make our hydrogels well suited for the transdermal delivery of a variety of compounds, including pain medications like lidocaine," commented James Sapirstein, chief executive officer of Alliqua Biomedical. "Our lidocaine patch development program is just the first in our effort to build a portfolio of products that leverage our hydrogel platform. We believe success in this proof-of-principle study for our lidocaine patch would increase the likelihood of success with other compounds and greatly enhances our efforts in this area. Beyond lidocaine, the Alliqua Biomedical division plans to explore transdermal delivery of dermatological, oncology, antibiotic and neurology products."
The Company plans to develop lidocaine hydrogel patches for the treatment of localized acute pain, including post-operative pain, back pain, as well as pain associated with sports injuries and arthritis. Alliqua expects results from this preclinical proof-of-principle study later in the third quarter.
"Lidocaine is an important therapeutic agent with a strong potential market opportunity," Mr. Sapirstein added. "Following successful completion of this proof-of-principle study, Alliqua intends to develop a clinical and development path forward based on discussions with the U.S. Food and Drug Administration as well as scientific advisers and potential partners."
About Alliqua, Inc.
Alliqua is a biopharmaceutical company focused on the development, manufacturing, and distribution of proprietary transdermal wound care and drug delivery technologies. Alliqua's leading technology platform produces hydrogels, a 3-dimensional cross-linked network of water soluble polymers capable of numerous chemical configurations.
Alliqua currently markets its new line of 510(k) FDA-approved hydrogel products for wound care under the SilverSeal® brand. Alliqua's electron beam production process, located at its 16,000 square foot GMP manufacturing facility in Langhorne PA, allows Alliqua to aggressively develop and custom manufacture a wide variety of hydrogels. Alliqua's hydrogels can be customized for various transdermal applications to address market opportunities in the treatment of wounds as well as the delivery of numerous drugs or other agents for pharmaceutical and cosmetic industries. Additionally, Alliqua's drug delivery platform, in combination with certain active pharmaceutical ingredients, can provide pharmaceutical companies with a transdermal technology to enhance patient compliance and potentially extend the patent life of valuable drug franchises.
Any statements contained in this press release regarding our ongoing research and development and the results attained by us to-date have not been evaluated by the U.S. Food and Drug Administration.
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This release contains forward-looking statements. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties outside of the our control that can make such statements untrue, including, but not limited to, inadequate capital, adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, termination of contracts or agreements, technological obsolescence of our products, technical problems with our research and products, price increases for supplies and components, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists and other specific risks. We currently have no commercial products intended to diagnose, treat, prevent or cure any disease. The statements contained in this press release regarding our ongoing research and development and the results attained by us to-date have not been evaluated by the U.S. Food and Drug Administration. There can be no assurance that further research and development, and/or whether clinical trial results, if any, will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that we will be able to develop new products on the basis of our technologies. In addition, other factors that could cause actual results to differ materially are discussed in our Annual Report on Form 10-K/A filed with the SEC on May 16, 2013 and our most recent Form 10-Q filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. We undertake no obligation to publicly update or revise our forward- looking statements as a result of new information, future events or otherwise.
Contacts for Alliqua, Inc.
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SOURCE Alliqua, Inc.