NexMed Announces Completion of Patient Enrollment in Two Pivotal Phase 3 Studies for Anti-Fungal Product

EAST WINDSOR, N.J.--(BUSINESS WIRE)--NexMed, Inc. (NASDAQ: NEXM), a developer of innovative transdermal treatments based on the NexACT^® drug delivery technology, today announced that Novartis Pharma AG has completed patient enrollment for Phase III clinical trials for NM100060, a topical treatment for onychomycosis (nail fungus). Pursuant to the terms of the licensing agreement with Novartis, NexMed will be entitled to a milestone payment early next year. NexMed entered into an exclusive, worldwide agreement with Novartis in September 2005, under which Novartis assumed all clinical development, regulatory, manufacturing and commercialization responsibilities for NM10060.

NM100060 is a topical application of Lamisil^® (terbinafine), formulated with terbinafine and the Company’s patented NexACT permeation enhancer, which facilitates the delivery of the drug into the nail bed, where the fungus resides.

About NexMed

NexMed, Inc. is an emerging drug developer that is leveraging its proprietary drug technology to develop a significant pipeline of innovative pharmaceutical products to address significant unmet medical needs. The Company is also working with various pharmaceutical companies to explore the incorporation of NexACT^® into their existing drugs as a means of developing new patient-friendly transdermal products and extending patent lifespans and brand equity. For further information about the Company, go to www.nexmed.com.

Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to its ability to maintain reduced expenditures, enter into partnering agreements, pursue growth opportunities, and/or other factors, some of which are outside the control of the Company.