Business
Crescita Therapeutics(TM) Announces 2017 First Quarter Results
Crescita Therapeutics™ Announces 2017 First Quarter Results Canada NewsWire...
About this update from Crescita Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\nCrescita Therapeutics™ Announces 2017 First Quarter Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, May 15, 2017\n\n\n\nMISSISSAUGA, ON, May 15, 2017 /CNW/ - 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, today announced its financial and operational results for the first quarter ended March 31, 2017.  \n\n\n \n \n\n \nProduct and Technology Updates\n\nPliaglis®In April, the Company entered into a development and commercialization license agreement (the Agreement) with Taro Pharmaceuticals Inc. (Taro), the Canadian subsidiary of Taro Pharmaceutical Industries Ltd.  Under the terms of the Agreement, Crescita has granted Taro an exclusive license to the rights to sell and distribute Pliaglis in the U.S. market and for the Enhanced Formulation.  In consideration of the rights granted under the Agreement, Taro will make the following payments to Crescita: an upfront payment of US$2.0 million, up to US$5.75 million in non-dilutive development and sales milestone payments and tiered royalties on net sales of products licensed under the Agreement.  The Company is evaluating strategies to optimize product sales in Canada and Mexico. \n\nMMPE™ In March, the Company signed an exclusive license agreement with a U.S.-based, major dermatological contract research company (the Licensee) to develop prescription treatments of skin diseases utilizing Crescita's patented multiplexed molecular penetration enhancer (MMPE) technology.  The Licensee will oversee and fund the cost of all development activities until commercialization partner(s) for the products are secured.  Crescita is entitled to a share of royalties and other consideration received by the Licensee from such partners based on a formula that includes compensation to Crescita for granting the Licensee the exclusive l...