Journey Medical Corporation Announces Settlement Agreements Pertaining to QBREXZA®, AMZEEQ® and ZILXI® Patent Exclusivity
May 24 2022 - 8:30AM
Journey Medical Corporation (NASDAQ: DERM) (“Journey Medical” or
the “Company”), a commercial-stage pharmaceutical company that
focuses on the development and commercialization of pharmaceutical
products for the treatment of dermatological conditions, today
announced that Journey Medical and Padagis US LLC (“Padagis”)
entered into a settlement agreement pertaining to the patents
protecting QBREXZA®, the first and only prescription cloth
towelette for the treatment of primary axillary hyperhidrosis,
AMZEEQ®, the first and only topical minocycline product for the
treatment of acne, and ZILXI®, the first and only topical
minocycline product for the treatment of rosacea. Under terms of
the paragraph IV settlement agreements, Padagis will not be allowed
to launch generic versions of QBREXZA, AMZEEQ and ZILXI until
August 15, 2030, July 1, 2031 and April 1, 2027, respectively.
Claude Maraoui, Journey Medical’s Co-Founder,
President and Chief Executive Officer, said, “These settlement
agreements are an important step for Journey Medical, as they
assist with solidifying our exclusivity and provide a clear pathway
for years to come allowing us to grow the sales of our three newest
products, QBREXZA, AMZEEQ and ZILXI. We believe in and will
continue to enforce the intellectual property rights of our
products. We believe that these settlements are beneficial to our
company and shareholders, as well as prescribing physicians and
their patients who depend on our novel products for treatment.”
About Journey Medical
CorporationJourney Medical Corporation (NASDAQ: DERM)
(“Journey Medical”) is focused on identifying, acquiring,
developing and strategically commercializing innovative,
differentiated dermatology products through its efficient sales and
marketing model. The company currently markets nine products that
help treat and heal common skin conditions. The Journey Medical
team is comprised of industry experts with extensive experience
commercializing some of the most successful prescription
dermatology brands. Journey Medical is located in Scottsdale,
Arizona and was founded by Fortress Biotech, Inc. (NASDAQ: FBIO).
Journey Medical’s common stock is registered under the Securities
Exchange Act of 1934, as amended, and it files periodic reports
with the U.S. Securities and Exchange Commission (“SEC”). For
additional information about Journey Medical, visit
www.journeymedicalcorp.com.
Forward-Looking StatementsThis
press release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, as amended. As used
below and throughout this press release, the words “we”, “us” and
“our” may refer to Journey Medical. Such statements include, but
are not limited to, any statements relating to our growth strategy
and product development programs and any other statements that are
not historical facts. The words “anticipate,” “believe,”
“estimate,” “may,” “expect,” “will,” “could,” “project,” “intend”
and similar expressions are generally intended to identify
forward-looking statements. Forward-looking statements are based on
management’s current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating
results, financial condition and stock price. Factors that could
cause actual results to differ materially from those currently
anticipated include: risks relating to our growth strategy; our
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; risks relating to the
results of research and development activities; uncertainties
relating to preclinical and clinical testing; risks relating to the
timing of starting and completing clinical trials, including
disruptions that may result from hostilities in Europe; our
dependence on third-party suppliers; risks relating to the COVID-19
outbreak and its potential impact on our employees’ and
consultants’ ability to complete work in a timely manner and on our
ability to obtain additional financing on favorable terms or at
all; our ability to attract, integrate and retain key personnel;
the early stage of products under development; our need for
substantial additional funds; government regulation; patent and
intellectual property matters; competition; as well as other risks
described in Part I, Item 1A, “Risk Factors,” in our Annual Report
on Form 10-K filed on March 28, 2022, subsequent Reports on Form
10-Q, and our other filings we make with the SEC. We expressly
disclaim any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in our expectations or any changes in
events, conditions or circumstances on which any such statement is
based, except as may be required by law, and we claim the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of
1995.
Company Contacts:Jaclyn Jaffe
and Bill Begien(781) 652-4500ir@jmcderm.com
Media Relations Contact:Tony
Plohoros6 Degrees(908) 591-2839tplohoros@6degreespr.com
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