Imprimis Pharmaceuticals Out Licenses Its Proprietary IP to resolutionMD for Cosmeceutical Products Agreement Includes License to Imprimis' Accudel™ Topical Formulation Technology for Anti-Cellulite Cosmeceutical Products
SOLANA BEACH, Calif., March 4, 2013 /PRNewswire/ -- Imprimis Pharmaceuticals, Inc. (IMMY:NASDAQ) ("Imprimis") and resolutionMD LLC ("resolutionMD") have entered into a licensing agreement which will provide resolutionMD with exclusive rights to the Accudel transdermal delivery technology, for anti cellulite formulations, in the global professional skincare market.
Under the terms of the agreement, resolutionMD will pay Imprimis a licensing royalty on the U.S. and international sales. resolutionMD's exclusive rights provide for it to promote and sell cosmeceutical products in the global professional skincare market in consideration of certain royalties. resolutionMD expects to launch its lead anti-cellulite product in the second quarter of 2013.
"We are extremely pleased to have reached an agreement with resolutionMD for our patented Accudel delivery technology and a related pending patent for our unique formulation. We believe this initial license and product launch may lead to future opportunities to use our technology in other cosmeceutical industry applications," stated Mark L. Baum, CEO of Imprimis Pharmaceuticals, Inc. "resolutionMD executives and scientists are recognized leaders in the dermatology market. We are confident they will capitalize on the potential for our technology in the anti-cellulite product."
"Cellulite occurs in between 85 percent to 98 percent of post-pubertal women of all races, making this market category one of the greatest opportunities in skin care. We believe that Imprimis's patented Accudel delivery technology in our proprietary anti-cellulite formulation has significant potential in the professional skin care market, not only in the U.S., but internationally as well," stated Brian Riley, resolutionMD's President and Chief Operating Officer. "The Accudel Anti-Cellulite formula will be the flagship product for resolutionMD."
Imprimis Pharmaceuticals is a specialty pharmaceutical Company developing non-invasive, topically delivered products. Our innovative patented Accudel cream formulation technology is designed to enable highly targeted site-specific treatment. Impracor, our lead pain product candidate, utilizes the Accudel platform technology to deliver the active drug, ketoprofen, a non-steroidal anti-inflammatory drug, through the skin directly into the underlying tissues where the drug exerts its localized anti-inflammatory and analgesic effects. We intend to leverage the Accudel platform technology to expand and create a portfolio of topical products for a variety of indications. http://imprimispharma.com/
resolutionMD LLC is a professional skin care company focused on serving the clinical needs of dermatologists, plastic surgeons and medical spas by providing state-of-the-art products for their patients and clients. Founded and managed by industry leaders who have been at the forefront of skin care industry innovations for the past thirty-plus years, resolutionMD has a national sales force in the United States and distributes globally though international sales and marketing partners. http://www.resolutionMD.net
This press release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward looking statements." Forward looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties which may cause our results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to raise additional funding, our ability to acquire, develop or commercialize new products and to enter into strategic alliances and transactions, uncertainties inherent in pre-clinical studies and clinical trials, unexpected new data, safety and technical issues, competition and market conditions. These and additional risks and uncertainties are more fully described in Imprimis's reports filed with the Securities and Exchange Commission. Undue reliance should not be placed on forward looking statements, which speak only as of the date they are made. Except as required by law, Imprimis undertakes no obligation to update any forward looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
Contact: Josh A. Berg
Imprimis Pharmaceuticals, Inc.
For resolutionMD: Brian Riley
SOURCE Imprimis Pharmaceuticals, Inc.