Suneva Medical Acquires Product Portfolio from Spear Pharmaceuticals Refissa Leads Suneva into the Topical Aesthetic Market
SAN DIEGO, May 21, 2012 /PRNewswire/ -- Suneva Medical, a privately-held aesthetics company, today announced that it has acquired an aesthetic product portfolio from Spear Pharmaceuticals ("Spear"). Under the terms of the agreement, Suneva will acquire worldwide rights to Refissa® and its marketed generic equivalent. The portfolio contains the only tretinoin creams with a .05% strength, emollient base and broad indication for fine facial lines, hyperpigmentation and tactile roughness. Financial terms were not disclosed.
Nick Teti, Chairman and Chief Executive Officer of Suneva Medical commented, "This acquisition is very significant for Suneva on several levels. We are entering the prescription topical aesthetic market, a potential $100 million market opportunity, with a unique basket of products including Refissa®, which has the strength, formulation and a broad indication unlike any other tretinoin cream on the market today. This deal also allows us to offer aesthetic physicians a comprehensive anti-aging solution, which includes our ReGenica™ skincare line, Refissa®, the gold standard topical treatment for fine lines and hyperpigmentation and our novel injectable filler, Artefill®. We have consistently looked to provide highly differentiated products that deliver high patient satisfaction and represent excellent business opportunities for our physician partners and believe we have accomplished that with our expanded portfolio of products. This acquisition promises to be a transformational event for the Company."
Spear developed and received approval for a generic tretinoin cream as an ANDA to Renova .05% in 2005. Refissa® is a new formulation of tretinoin, a derivative of vitamin A that contains the same active and inactive ingredients as Renova .05%. The product has been proven in a clinical trial to be effective in the treatment of fine facial wrinkles, tactile roughness of the skin, as well as irregular pigmentation from the sun. It was approved by the FDA in 2008 and is the only .05% prescription-strength, fragrance-free, emollient-based tretinoin cream available on the market today. Refissa® is formulated in a moisturizing base and is an ideal option for mature patients with drier, more sensitive photo damaged skin.
Important Safety Information: Refissa 0.05% is a prescription medicine that may reduce fine facial wrinkles and mottled hyperpigmentation in patients who also protect their skin from the sun and wear sunscreen daily. Refissa does not eliminate wrinkles, repair sun damaged skin or reverse photo-aging. Avoid medicines that may increase your sensitivity to sunlight, ask your pharmacist. Do not use if you are pregnant, attempting pregnancy, or nursing. Refissa, early in treatment, may cause redness, itching, burning, stinging and peeling. Please see Full Prescribing Information at www.refissa.com.
About Suneva Medical
Suneva Medical, Inc. is a privately-held aesthetics company focused on developing, manufacturing and commercializing novel, differentiated products for the dermatology, plastic and cosmetic surgery markets. The Company currently markets Artefill® and ReGenica™ Skincare in the U.S. and Bellafill™ in Canada. For more information visit www.sunevamedical.com.
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SOURCE Suneva Medical