Elorac, Inc. Announces Acquisition of All World-wide Rights to Cidoxepin

VERNON HILLS, Ill.--(BUSINESS WIRE)-- Elorac, Inc., a rapidly growing specialty pharmaceutical company focused on the treatment of dermatological disorders, is pleased to announce that it has acquired world-wide rights to the active agent Cidoxepin from Gideon Pharmaceuticals. Cidoxepin is the cis-isomer of the widely prescribed tricyclic compound doxepin. Cidoxepin has significant norepinephrine and serotonin reuptake inhibitor activity, as well as being the most potent Histamine-1 (H1) blocker ever discovered.

Dr. John Kallal, Elorac’s Vice President of Medical and Regulatory Affairs stated, “We are very excited about the acquisition of the world-wide rights to Cidoxepin. Cidoxepin appears to be much more potent than doxepin while having less sedative and cholinergic side effects.” Elorac plans to develop oral formulations of the drug to treat urticaria and topical formulations for treatment of atopic and contact dermatitis.

Dr. Jeffrey Bernstein, Elorac’s President and CEO, added, “The acquisition of Cidoxepin, along with its two recently issued U.S. patents, is a further step in our goal of becoming one of the largest dermatology companies in North America by 2015. Elorac’s sales in 2010 are expected to be more than 500% above 2009 levels, and we intend to maintain an impressive record of growth over the foreseeable future.”

About Elorac, Inc.

Elorac, Inc., based in Vernon Hills, IL, is a dynamic pharmaceutical company engaged in the development and commercialization of novel prescription products for the advancement of skin care. By leveraging the extensive development and commercialization capabilities of its highly experienced team and focusing on the management of skin diseases, Elorac markets and develops unique prescription products representing potentially significant improvement over current therapies in dermatology.

About Gideon Pharmaceuticals, Inc.

Gideon Pharmaceuticals, Inc. is a drug development company based in the Midwest. Gideon’s leading development-stage pharmaceutical products employ its proprietary Heprotect® technology, which significantly reduces the hepatotoxicity of hepatocellular toxic agents without interfering with their bioactivity. Among such agents being developed by Gideon are Heprotect versions of acetaminophen, methotrexate, and nicotinic acid.



CONTACT:

Elorac, Inc.
Barry Hollingsworth, Chief Financial Officer
847-362-8200 ext. 230
[email protected]

KEYWORDS:   United States  North America  Illinois

INDUSTRY KEYWORDS:   Health  Biotechnology  Pharmaceutical  Other Health  General Health

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