Ventrus Biosciences and Sam Amer & Company Sign Exclusive License Agreement to Develop Novel Topical Treatment for Hemorrhoids
Ventrus Biosciences, Inc. (Ventrus), a specialty pharmaceutical company focused on the late-stage development and commercialization of gastrointestinal products, and Sam Amer & Company (Amer) have announced an agreement granting Ventrus exclusive worldwide rights to develop and commercialize a Phase III novel topical ointment (VEN309) for the treatment of hemorrhoids. VEN309 is a new chemical entity that inhibits venous constriction, platelet aggregation and in addition, has local anesthetic activity similar to lidocaine. It is believed that these mechanisms of action lead to the symptomatic improvement of hemorrhoids.
Greenwood Village, CO (PRWEB) March 19, 2008 -- Ventrus Biosciences, Inc. (Ventrus), a specialty pharmaceutical company focused on the late-stage development and commercialization of gastrointestinal products, and Sam Amer & Company (Amer) have announced an agreement granting Ventrus exclusive worldwide rights to develop and commercialize a Phase III novel topical ointment (VEN309) for the treatment of hemorrhoids.
VEN309 is a new chemical entity that inhibits venous constriction, platelet aggregation and in addition, has local anesthetic activity similar to lidocaine. It is believed that these mechanisms of action lead to the symptomatic improvement of hemorrhoids.
According to the National Institute of Diabetes and Digestive and Kidney Diseases, hemorrhoids occur in approximately 5.7 percent of the U.S. population or about 12.86 million individuals. The prevalence of hemorrhoids peaks in adults ages 45 to 65.
"Because there has not been any true innovation in the hemorrhoid market in more than 30 years, the 13 million U.S. patients and the physicians who treat them have been left with few options. VEN309 has the potential to become the therapy of choice for this population," said Thomas Rowland, President and Chief Executive Officer of Ventrus Biosciences. "VEN309 is strategically aligned with our company's focus on gastrointestinal diseases. The topical ointment bolsters our pipeline which includes VEN307, a Phase III product candidate for the treatment of anal fissures, and VEN308, a late Phase II product candidate for the treatment of fecal incontinence."
Under the terms of the agreement, Amer has granted Ventrus exclusive development and marketing rights worldwide. In return, Ventrus will make up-front payments on the execution of the license followed by potential milestone and royalty payments if VEN309 is successfully developed and commercialized.
"We are thrilled that our discovery can possibly be translated into effective treatment for millions of patients," said Sam Amer, President and Founder of Sam Amer & Company. "Ventrus Biosciences' expertise in pharmaceutical development and therapeutic focus makes the company an ideal partner. We are delighted that Ventrus Biosciences shares our objective to provide modern treatment options for unmet medical needs in the gastroenterology field."
About Ventrus Biosciences:
Founded in 2007 by Paramount BioSciences, Ventrus Biosciences, Inc., is a Greenwood Village based specialty pharmaceutical company focused on the late-stage development and commercialization of gastrointestinal products. The company is currently focusing on three of the top 10 gastroenterology disorders including anal fissures, fecal incontinence, and hemorrhoids.
Thomas Rowland has more than 18 years of industry experience, including nine years in the field of gastroenterology. Mr. Rowland's senior management team has more than 50 years of combined experience in the pharmaceutical industry, including the company's Senior Vice President and Chief Medical Officer Terrance Coyne, M.D., and John Dietrich, Ph.D., Vice President of Clinical Operations. For additional information about Ventrus Biosciences, visit www.ventrusbio.com.
About Paramount BioSciences:
Paramount BioSciences, LLC is a global pharmaceutical development and health care investment firm that conceives, nurtures and supports new biotechnology companies. For additional information about Paramount BioSciences, visit www.paramountbio.com.
###
Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/Q3Jhcy1TcXVhLUhvcnItQ3Jhcy1Ib3JyLVplcm8=
Bookmark -
Del.icio.us |
Furl It |
Technorati |
Ask |
MyWeb |
Propeller |
Live Bookmarks |
Newsvine |
TailRank |
Reddit |
Slashdot |
Digg |
Stumbleupon |
Google Bookmarks |
Sphere |
Blink It |
Spurl
|
