North Park Aesthetics Acquires Exclusive Worldwide Rights to Develop and Commercialize Fluridil, a Novel Antiandrogen for Androgenetic Alopecia
SAN DIEGO, April 28, 2008 -- North Park Aesthetics, Inc. has reached an agreement with Biophysica, Inc. and Interpharma Praha, A S pursuant to which North Park has acquired exclusive worldwide rights to develop and commercialize products containing fluridil, a novel antiandrogen for topical administration. Fluridil is the primary ingredient in NP-619, North Park's Phase 2 product for androgenetic alopecia (pattern baldness).
Under the terms of the agreement, North Park is responsible for worldwide development and commercialization of products containing fluridil for all indications. North Park also acquired an option to assume existing markets associated with two fluridil-containing products, Eucapil and CARE: THE SOLUTION FOR THE FACE, currently sold outside the U.S. for androgenetic alopecia and cutaneous aging, respectively. In addition to fluridil, CARE: THE SOLUTION FOR THE FACE contains vitamins, resveratrol and other plant extracts.
North Park's strategy is to satisfy an increasing demand for agents that address dermatological aesthetics. Annual U.S. sales of topical anti-aging products are projected to grow from $6 billion in 2006 to more than $10 billion by 2011. Based on clinical studies of fluridil for male androgenetic alopecia, female androgenetic alopecia, and idiopathic hirsutism, North Park believes that this unique compound may offer an advantage over existing agents by acting locally without undesirable systemic antiandrogen effects.
About North Park Aesthetics
North Park Aesthetics, Inc. was founded in 2006 to develop and market drugs and cosmetics for dermatological conditions that impact personal appearance. The company strategy is to develop and commercialize product candidates addressing underserved needs in the general population. North Park Aesthetics is a portfolio company of Paramount BioSciences.
About Paramount BioSciences
Paramount BioSciences, LLC is a leading drug development and healthcare investment firm focused on the in-licensing of novel agents and the formation of new biotechnology and life-sciences companies. For additional information about Paramount BioSciences, visit http://www.paramountbio.com.