BioSante Pharmaceuticals Announces Positive Results for its CaP Technology for Use in Aesthetic Medicine
July 25 2007 - 8:00AM
Business Wire
BioSante Pharmaceuticals, Inc. (Amex: BPA) today announced positive
results of the use of BioSante�s calcium phosphate nanotechnology
(CaP) as a potential wrinkle filler in cosmetic medicine. These
results are based on work performed by Medical Aesthetics
Technology Corporation (�MATC�) with whom BioSante has entered into
an exclusive option and license agreement in the field of aesthetic
medicine. Pre-clinical work to date indicates that BioSante�s CaP
nanotechnology performs well as a filler and may be as long lasting
and safe as other injectable fillers. Preliminary results indicate
long lasting effects and no adverse events. Further pre-clinical
tests are being conducted to confirm the positive results and
determine whether BioSante�s CaP can extend the beneficial
wrinkle-filling effects longer than those produced by the leading
hyaluronic acid fillers, such as Restylane made by Medicis
Pharmaceutical Corp. (NYSE:MRX), which typically last about six
months after injection into the skin. Human clinical testing of CaP
for this use is being planned. Stephen M. Simes, BioSante�s
president and chief executive officer, stated, �The area of
aesthetic medicine is growing both in prescription and
non-prescription products. Results to date are indicative that CaP
may have a role to play in aesthetic medicine in a large and
growing market. Our option and license agreement with MATC and the
work in aesthetic medicine are part of our strategic effort to
maximize the value of CaP to our stockholders." BioSante and MATC
have agreed to extend by four months the previous exclusive option
period that would have expired in July 2007. MATC has the exclusive
right to exercise an option to secure a license to this technology
in the field of aesthetic medicine upon payment to BioSante of a
license fee. BioSante has the right to receive additional milestone
payments upon approval by the U.S. Food and Drug Administration
(FDA) or first commercial sale of each product containing CaP, a
royalty on net sales of any such products, and a share of any
milestones and license fees from third party sublicenses. About
Medical Aesthetic Technologies Corporation Medical Aesthetic
Technologies is engaged in research and development to produce
novel products in the field of aesthetic medicine. MATC has
assembled a team of accomplished professionals out of Harvard and
MIT with expertise in aesthetic medicine as well as technology
development. About BioSante Pharmaceuticals, Inc. BioSante is
developing a pipeline of hormone therapy products to treat both men
and women. These hormone therapy products are gel formulations for
transdermal administration that deliver bio-identical estradiol and
testosterone. BioSante's lead products include Elestrin� (estradiol
gel) developed through FDA approval by BioSante indicated for the
treatment of moderate-to-severe vasomotor symptoms associated with
menopause, marketed in the U.S.�by Bradley Pharmaceuticals, Inc.,
BioSante's licensee, and LibiGel� (transdermal testosterone gel) in
Phase III development by BioSante for the treatment of female
sexual dysfunction (FSD). Also in development is Bio-T-Gel�, a
testosterone gel for male hypogonadism, and an oral contraceptive
using BioSante patented technology. The current market in the U.S.
for estrogen and testosterone products is approximately $2.5
billion and for oral contraceptives approximately $3.0 billion. The
company also is developing its calcium phosphate nanotechnology
(CaP) for novel vaccines, including hepatitis B, avian flu and
biodefense vaccines for toxins such as anthrax, as well as a system
for delivering drugs via alternative routes of administration and
for aesthetic medicine. Additional information is available online
at www.biosantepharma.com. This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The statements regarding
BioSante contained in this news release that are not historical in
nature, particularly those that utilize terminology such as �may,�
�will,� �should,� �would,� �likely,� �expects,� �anticipates,�
�estimates,� �believes,� �plans,� �hopes,� or comparable
terminology, are forward-looking statements. Forward-looking
statements are based on current expectations and assumptions, and
entail various risks and uncertainties that could cause actual
results to differ materially from those expressed in such
forward-looking statements. Important factors known to BioSante
that could cause actual results to differ materially from those
expressed in such forward-looking statements include the difficulty
of developing pharmaceutical products, obtaining regulatory and
other approvals and achieving market acceptance, the success of
clinical testing, and other factors identified and discussed from
time to time in BioSante's filings with the Securities and Exchange
Commission, including those factors discussed in BioSante's most
recent annual report on Form 10-K and subsequent quarterly reports
on Form 10-Q, which discussions also are incorporated herein by
reference. All forward-looking statements speak only as of the date
of this news release. BioSante undertakes no obligation to update
or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
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