STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Moberg Derma AB (OMX:MOB) today announced that it has entered into an exclusive distribution agreement for Emtrix®, a novel, over-the-counter product for the local treatment of fingernail and toenail fungal infections (onychomycosis), in Canada. Under the terms of the agreement, Paladin has been granted the exclusive rights to market and sell Emtrix® in Canada. Emtrix® is an over-the-counter (OTC), topical product with a unique mechanism of action that generates visible improvements within 2-4 weeks of treatment. Further details or financial terms of the transaction were not disclosed.
Emtrix® was approved by Health Canada in June 2012 and is planned to be launched in the second half of 2013. Canadian studies indicate that onychomycosis affects approximately two million people in Canada.
"We look forward to work with Paladin – a leading Canadian company with a strong track record – to make Emtrix® a success in Canada. Emtrix® is already established as a leading product in the U.S. and many other markets. The launch in Canada constitutes an important step in the global commercialization of Emtrix®," said Peter Wolpert, President and CEO of Moberg Derma AB.
“We are pleased to partner with Moberg Derma to commercialize Emtrix® in Canada,” said Mark Beaudet, interim President and CEO of Paladin Labs Inc. “Emtrix® is unique since it provides a fast and effective solution to treat nail fungus without the need for a prescription. Emtrix® will complement our growing portfolio of new OTC products.”
About Emtrix® and nail disease
Emtrix® is a topical treatment used to treat nail disease. Launched in the Nordic region in late 2010, it quickly became the market leader with a market share exceeding 60% in Sweden, the first year after launch. Emtrix® is an over-the-counter product sold under the name Nalox™ in certain markets and under the name Kerasal® Nail in the U.S. Safety and efficacy have been demonstrated in several clinical studies including more than 600 patients. Emtrix® has a unique and rapid mechanism of action which brings visible improvements within 2-4 weeks of treatment. Nail fungus is the most common nail disease and afflicts approximately 10 percent of the population and is more common among the elderly. A recent Canadian study indicates a prevalence of approximately 6.5 percent of the general Canadian population.1 It is generally recognized that there is a need for new efficacious and safe topical treatments.
1 Gupta AK, Jain HC, Lynde CW, MacDonald P, Cooper EA, Summerbell RC. Prevalence and epidemiology of onychomycosis in patients visiting physicians' offices: a multicenter Canadian survey of 15,000 patients. J Am Acad Dermatol. 2000;43:244-248.
About Moberg Derma AB
Moberg Derma AB (publ) is a rapidly growing Swedish pharmaceutical company with direct sales through its own sales organization in the US and sales through distributors in more than 35 countries. The company’s product portfolio includes topical products for the treatment of skin disorders and pain under the brands Kerasal®, Jointflex®, Emtrix® and Kaprolac®. Emtrix® (Nalox™ in many markets) is the leading product for the treatment of nail disorders in the Nordic market. The portfolio is developed further through acquisitions and in-licensing of products as well as product development with focus on innovative drug delivery based on proven compounds. Moberg Derma has offices in Stockholm and New Jersey and the company’s share (OMX: MOB) is listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergderma.com.
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. Paladin's shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Company's web site at www.paladinlabs.com.
About this information
Moberg Derma discloses this information pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8.00 am (CET) on December 12, 2012.
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