ULURU Inc., a Texas based specialty pharmaceutical company, announced today a binding letter of intent with Melmed Holdings AG, a Swiss holding company, to license ULURU’s Altrazeal®, a revolutionary wound treatment technology, for marketing in the European Union. Altrazeal is expected to be launched in Germany during the first quarter of 2012, with expansion to the U.K., France, Spain, and Italy to occur once price reimbursement approval has been received in each market.
Initial marketing will focus on the treatment of diabetic foot ulcers, a growing market throughout Europe. In the U.S., according to the company, only 31% of diabetic foot ulcers are healed in 20 weeks, a condition for which Altrazeal has demonstrated significant clinical advantages. ULURU will receive a licensing payment, plus interest, in the Melmed subsidiary company being formed to market Altrazeal, for a total value of approximately $2.5 million. In addition, ULURU will supply Altrazeal at a price equal to 30% of the European sales price and get royalties on sales within the territory.
ULURU is focused on the development of wound management and oral care products, providing improved clinical outcomes through controlled delivery, utilizing its innovative Nanoflex® Aggregate technology and OraDisc™ transmucosal delivery system. The company is committed to developing and commercializing a broad range of innovative wound care and muco-adhesive film products. Their stated strategy is to:
• Develop and commercialize a customer focused portfolio of innovative wound care products to treat the various phases of wound healing
• Develop the oral-transmucosal technology and generate revenues through multiple licensing agreements
• Develop the Nanoflex technology for the medical aesthetics market, and enter into one or more strategic partnerships to bring these products to market
Altrazeal Transforming Powder Dressing uses the proprietary Nanoflex technology to promote the healing of exuding wounds. The unique powder particles have been rigorously developed to the exact scale and proportion necessary to provide optimal oxygen and vapor transpiration, microbial impermeability, tensile strength, and flexibility.
For additional information on ULURU, visit the company’s website at www.ULURUInc.com
For further information about Altrazeal, please visit www.Altrazeal.com
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