ADDISON, Texas, Feb. 23, 2012 /PRNewswire/ -- ULURU Inc. (NYSE AMEX: ULU),announced today that an Australian Register of Therapeutic Goods Certificate has been issued by the Therapeutic Goods Administration approving the marketing of Altrazeal® in Australia.
Commenting on the approval in Australia, Kerry P. Gray, President and CEO of ULURU, stated, "This is another important milestone in the worldwide commercialization of Altrazeal®. Strategically this is an important market as the world's largest wound research program is currently being conducted at the Wound Management Innovation Cooperation Research Centre in Australia. This centre's focus is the development of clinically and cost effective treatment regimens for the management of chronic wounds. Gaining the support of this influential group could have significant global implications for the marketing of Altrazeal®. It is anticipated that the initial Altrazeal® orders for Australia will occur in the next thirty days. Also, marketing approval in New Zealand is anticipated to occur in the next thirty days."
The timing of this approval is beneficial as the major Australian wound care meeting, the Australian Wound Management Association Conference, will be held in Sydney, Australia on March 18-21, 2012. It is anticipated that over 1,000 delegates from Australia and New Zealand will be attending this conference. The conference will enable pre-marketing launch activities to be conducted and provide maximum exposure for Altrazeal® to the most important wound treatment healthcare professionals from both countries.
In Australia and New Zealand approximately 2.5% of the population, or 700,000 patients, suffer from chronic wounds, with 80% of these wounds caused by cardiovascular disease, endocrine disorders (including diabetes), and infection. With the increase in cardiovascular disease, obesity, and the aging population, it is anticipated that the wound care market will double in size over the next five to seven years and the cost of treating chronic wounds will exceed $1.0 billion annually.
Mr. Gray continued, "The Australian state government's strategic initiatives in wound care are focused on cost effective clinical endpoints and patient health and wellbeing. The pharmaco-economic benefits offered by Altrazeal® could enable rapid market penetration in the Australian market."
About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex® Aggregate technology and OraDisc™ transmucosal delivery system. For further information about ULURU Inc., please visit our website at www.uluruinc.com. For further information about Altrazeal®, please visit www.Altrazeal.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended. These statements are subject to numerous risks and uncertainties, including but not limited to our belief that Altrazeal® will be a major competitor in the wound care market, anticipated product launches in Australia and New Zealand, the cost effectiveness and cost savings of Altrazeal® in healing chronic wounds, the size of the wound care market and the cost of treating chronic wounds in Australia and New Zealand, the world's largest wound research program is currently being conducted at the Wound Management Innovation Cooperation Research Centre in Australia, Altrazeal's clinical and economic advantages, and Altrazeal's ability to penetrate the Australian wound care market, and to the risk factors detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, and other reports filed by us with the Securities and Exchange Commission.
Kerry P. Gray
President & CEO
Terry K. Wallberg
Vice President & CFO
SOURCE ULURU Inc.