SAN DIEGO, March 20, 2014 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. (Nasdaq:APRI), a pharmaceutical company focusing on the development and commercialization of novel therapeutics for men's and women's health, today announced the appointment of Neil C. Morton as Vice President of Business Development. Mr. Morton brings to Apricus a successful track record in business development in specialty pharmaceuticals, most recently serving as the Executive Director of Business Development at Auxilium Pharmaceuticals Inc., where he successfully led their efforts to build a pipeline of men's health products to include in-licensing of Stendra™ from Vivus, Inc. and the acquisition of Actient Pharmaceuticals. He will report to Richard Pascoe, Apricus' Chief Executive Officer, and his appointment is effective immediately. Edward Cox, who previously served in this position, will transition to the newly created role of Vice President of Commercial Development where he will primarily focus on supporting the launch of Vitaros® in Europe and Canada.
"We are excited to announce the addition of Neil Morton, whose accomplishments in life sciences business development will be key as we seek to fully leverage the potential of our lead product Vitaros®, out-license ex-US Femprox® rights, and build a robust pipeline of innovative products in men's and women's health," said Mr. Pascoe.
Mr. Morton stated, "I am thrilled to become part of Apricus' management team during this important time for the Company, as Vitaros® is expected to launch throughout 2014 and the Company's earlier product pipeline continues to advance. I am looking forward to making significant contributions towards building Apricus' presence in the areas of men's and women's health."
Prior to Auxilium Pharmaceuticals, Mr. Morton served in business development and marketing roles at King Pharmaceuticals, attaining the position of Senior Director, Commercial Development. Mr. Morton received his M.B.A. degree from the Babcock Graduate School of Management at Wake Forest University and his B.A. degree in biology from Bucknell University.
About Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI) is a pharmaceutical company focused on the development and commercialization of novel therapeutics for men's and women's health. The Company's lead product, Vitaros®, for the treatment of erectile dysfunction, is approved in Europe and Canada and will be commercialized by Apricus' marketing partners, which include Abbott Laboratories Limited, Takeda Pharmaceuticals International GmbH, Hexal AG (Sandoz), Recordati S.p.A., Bracco S.p.A. and Laboratoires Majorelle. The Company's second generation Vitaros® Room Temperature Device is under development and will further enhance the products commercial value. Femprox®, the Company's product candidate for the treatment of female sexual interest/arousal disorder, has successfully completed an approximately 400-subject proof-of-concept study. The Company is currently seeking a strategic partner for Femprox®.
For further information on Apricus, visit http://www.apricusbio.com.
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to further develop its product Vitaros® for the treatment of erectile dysfunction, such as the room temperature version of Vitaros® and product candidate Femprox® for the treatment of female sexual interest/arousal disorder among others, as well as the timing of such events; the timing of commercial launch of Vitaros in Europe and Canada; and the ability to achieve our other development, commercialization and financial goals, including the ability to out-license ex-US rights to Femprox, develop a pipeline of products and product candidates and further complement our management team and/or board of directors. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q, and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
Chief Financial Officer
Senior Vice President