Advanced Polymer Systems To Begin Receiving Royalties From Sales Of Dermik’s Carac™ For Treatment Of Actinic Keratoses
REDWOOD CITY, Calif. (April 12, 2001) – Advanced Polymer Systems (Nasdaq NM: APOS), today announced the launch by its development and marketing partner, Dermik Laboratories, Inc., a subsidiary of Aventis Pharma AG, of the first FDA-approved once-a-day topical prescription product under the trade name Carac™ for the treatment of actinic keratoses (AK). Advanced Polymer Systems, which is focused on the development of ethical pharmaceuticals utilizing its proprietary drug delivery systems, will be entitled to significant royalties on worldwide sales of the product.
AK, or pre-cancerous skin lesions, is a common condition which can affect one in six people that usually results from long-term exposure to the sun and can lead to skin cancer. The 5-fluorouracil (5-FU) formulation was licensed by Advanced Polymer Systems to Dermik Laboratories, who developed Carac. Carac is now available by prescription in pharmacies throughout the U.S.
Dermik is a wholly owned subsidiary of Aventis SA (NYSE: AVE), a global pharmaceutical company that is a world leader in life sciences. 5-FU is a highly effective topical treatment for AK, but its harsh side effects have presented a barrier to patient compliance. The new formulation containing Microsponge®-entrapped 5-FU provides an important breakthrough.
Utilizing the same technology as Carac, Ortho Dermatological, a Johnson & Johnson company, improved upon its widely prescribed and highly effective topical acne treatment Retin®-A, and in 1997 introduced the Retin®-A Micro™ product, which incorporates the active ingredient tretinoin in the Microsponge system.
Michael O'Connell, Advanced Polymer Systems president and CEO, commented, “The commercialization of Carac represents the successful culmination of our partnership with Dermik. Carac addresses an annual market opportunity in the U.S estimated to be $250 million to $300 million. Our strong cash position, coupled with expected royalties from Carac and Retin-A Micro should provide us with the resources to complete our conversion to a specialty pharmaceutical company with a promising line of potential products based on the development and commercialization of our bioerodible injectable and implantable polymer systems.”
About Dermik Laboratories
Dermik Laboratories, Inc. conducts the global dermatology business of Aventis Pharma AG, the pharmaceutical company of Aventis S.A. Dermik Laboratories is dedicated to providing innovative dermatological products to satisfy the needs of health care providers and patients. Dermik focuses on treatments for a wide range of skin and nail problems, including acne, antifungals, pre-cancerous lesions, psoriasis and rosacea. Its corporate headquarters are located in Berwyn, Pa. For further information visit Dermik's Website at www.dermik.com.
About Advanced Polymer Systems
Advanced Polymer Systems is a specialty pharmaceutical company focused on the development of ethical (prescription) pharmaceuticals utilizing its proprietary polymer-based drug delivery systems. The Company's primary focus, both internally and through corporate partners, is the development and commercialization of its bioerodible injectable and implantable drug delivery systems under the trade name Biochronomerä. Initial targeted areas of application for the Company's drug delivery technology include pain management, inflammation, oncology, ophthalmology and orthopedic applications. For further information visit the Company's Website at www.appharma.com.
Except for historical information, this news release contains certain forward-looking statements that involve risks and uncertainties, including among others, uncertainty associated with timely development, approval, launch and acceptance of new products, establishment of new corporate alliances and progress in research and development programs. Other risks and uncertainties associated with the Company's business and prospects are identified in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to revise these forward-looking statements to reflect events or circumstances occurring in the future.