Apricus Biosciences announces sale of non-core assets


Apricus Biosciences announced the sale of Totect, a marketed, injectable treatment for anthracycline extravasation, and NitroMist, an FDA-approved nitrate vasodilator indicated for acute relief of an attack or acute prophylaxis of angina pectoris due to coronary artery disease. In line with its previously stated corporate strategy, the company is focusing its resources on commercializing its lead product Vitaros, for the treatment of erectile dysfunction, and on the development of Femprox, for the treatment of female sexual arousal disorder. Under terms of the Biocodex agreement, Apricus Bio received an upfront payment at closing and is eligible to receive royalties on net sales of Totect by Biocodex through 2016, in exchange for Apricus Bio's sale of its commercialization rights to Totect in North America and South America. NitroMist was acquired by Mist Pharmaceuticals. Mist will receive rights to commercialize and market NitroMist in all countries outside the U.S., Canada and Mexico.

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