Orient Europharma Announces Agreement With Access for Canker Sores Treatment - Aphthasol(R) & OraDisc(TM)A
DALLAS, May 12 /PRNewswire-FirstCall/ -- ACCESS PHARMACEUTICALS, INC. (Amex: AKC) today announced that it has entered into a Licensing and Supply Agreement with Orient Europharma (OEP). Under the terms of the Agreement, OEP will market Access' Aphthasol(R) paste & OraDisc(TM)A in six Asian territories: Taiwan, Hong Kong, Singapore, Malaysia, Philippines, and Thailand, and OEP will provide Access with an upfront licensing payment, milestone payments, and royalty payments on product sales. According to OEP, "These 2 products contain amlexanox, an active ingredient which is clinically-proven to accelerate healing and pain relief with no significant adverse effects. OraDisc(TM)A patch is an improved delivery system for amlexanox. The OraDisc(TM) technology is a proprietary mucoadhesive patch that gradually erodes and releases an active ingredient when applied to the inside of the mouth." In addition to approval from FDA, Aphthasol(R) has also been approved for marketing in 10 European Union countries, Canada and Israel. Access Pharmaceuticals Inc. is an emerging pharmaceutical company focused on developing both novel low development risk product candidates and technologies with longer-term major product opportunities. Access is also developing unique polymer platinates for use in the treatment of cancer and has an extensive portfolio of advanced drug delivery technologies including vitamin mediated targeted delivery, oral delivery, and nanoparticle aggregates. This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties, including but not limited to statements made relating to projected product revenues, potential additional licensing arrangements, the amlexanox approval process, projections from our licensing partners for amlexanox sales, expected milestone payments, and the markets for amlexanox paste and OraDisc(TM) A. These statements are subject to numerous risks, including but not limited to the uncertainties associated with research and development activities, clinical trials, our ability to raise capital, the timing of and our ability to achieve regulatory approvals, dependence on others to market our licensed products, collaborations, future cash flow, the timing and receipt of licensing and milestone revenues, projected future revenue growth and our ability to generate near term revenues, the future success of the Company's marketed products Aphthasol(R) and products in development including polymer platinate, and OraDisc(TM), our ability to develop products from our platform technologies, our ability to manufacture amlexanox products in commercial quantities, our sales projections and the sales projections of our licensing partners, our ability to achieve licensing milestones and other risks detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2004, and other reports filed by us with the Securities and Exchange Commission.
SOURCE Access Pharmaceuticals, Inc.
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