MISSISSAUGA, ON, March 29, 2018 /PRNewswire/ - Crescita
Therapeutics Inc. (TSX: CTX) ("Crescita" or "the Company"), a
commercial dermatology company with a portfolio of non-prescription
skincare products and prescription drug products for the treatment
and care of skin conditions and diseases and their symptoms, is
pleased to announce that the first shipments of Pliaglis have now
been received and the product will be launched by our U.S.
licensing partner.
In April 2017, Crescita announced
that it had entered into a development and commercialization
license agreement ("the Agreement") with Taro Pharmaceuticals Inc.
("Taro"). Under the terms of the Agreement, Crescita granted
Taro an exclusive license to the rights to sell and distribute
Pliaglis in the U.S. market and for a second-generation enhanced
version with patent pending (the Enhanced Formulation).
"The launch of Pliaglis in the U.S. represents a significant
milestone for Crescita. We are encouraged by the prospect for sales
growth in the U.S. market," said Serge
Verreault, President of Crescita.
About Pliaglis
Pliaglis, a lidocaine and tetracaine
(7%/7%) formulation, is a U.S. Food and Drug Administration (FDA)
approved topical local anesthetic cream that provides safe and
effective local dermal anaesthesia on intact skin prior to
superficial dermatological procedures, such as dermal filler
injection, pulsed dye laser therapy, facial laser resurfacing and
laser-assisted tattoo removal. This product contains
lidocaine and tetracaine and utilizes the proprietary
phase-changing topical cream "Peel" technology. The "Peel"
technology consists of a drug containing cream which, once applied
to a patient's skin, dries to form a pliable layer that releases
drug into the skin. Following the application period,
Pliaglis forms a pliable layer that is removed from the skin
allowing the dermatological procedure to be performed with minimal
to no pain.
About Taro Pharmaceutical Industries Ltd.
Taro (NYSE: TARO) is a multinational, science-based pharmaceutical
company, dedicated to meeting the needs of its customers through
the discovery, development, manufacturing and marketing of the
highest quality healthcare products. For further information on
Taro, please visit the Company's website at www.taro.com.
About Crescita Therapeutics Inc.
Crescita
(TSX: CTX) is a publicly traded, Canadian commercial dermatology
company with a portfolio of non-prescription skincare products and
prescription drug products for the treatment and care of skin
conditions and diseases and their symptoms. Crescita owns
multiple proprietary drug delivery platforms that support the
development of patented formulations that can facilitate the
delivery of active drugs into or through the skin. Crescita's
board of directors and management team have demonstrated success in
building Crescita's predecessor company, Nuvo Research Inc.,
including developing multiple drugs that are now approved and
commercialized and negotiating multiple licensing transactions.
For additional information, please visit
www.crescitatherapeutics.com.
SOURCE Crescita Therapeutics Inc.