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Crescita Therapeutics(TM) Inc. Provides Corporate Update
Crescita Therapeutics™ Inc. Provides Corporate Update Crescita Therapeutics...
About this update from Crescita Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\nCrescita Therapeutics™ Inc. Provides Corporate Update\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\nCrescita Therapeutics™ Inc. Provides Corporate Update\nCanada NewsWire\nMISSISSAUGA, ON, March 7, 2016\n\n\n\nMISSISSAUGA, ON, March 7, 2016 /CNW/ - Crescita Therapeutics Inc. (TSX:CTX) (Crescita), a drug development company that owns topical products for treating medical conditions in dermatology and pain, today provided an update on its priorities for the coming 120 days.  Crescita was created on March 1, 2016 by the reorganization of Nuvo Research Inc. (Nuvo Research) into two separate publicly traded companies, Crescita and Nuvo Pharmaceuticals Inc. (TSX:NRI) (the Reorganization).  \n\n\nThe Company will be finalizing its strategy for the commercialization of Pliaglis which is approved for sale in Canada and the United States with regulatory approval pending in Mexico.  In December 2015, Nuvo Research reacquired the development and marketing rights for Pliaglis in these territories from its global licensing partner.  These rights were transferred to Crescita as part of the Reorganization. \nThe Company is in communication with the U.S. Food and Drug Administration (FDA) and expects to receive feedback from the FDA in Q2 2016 on the clinical and regulatory requirements for its development of Flexicaine for the treatment of neuropathic pain. \nThe Company is evaluating strategic merger and acquisition opportunities to grow its commercial product portfolio and development-stage pipeline. \nPending execution of these priorities in Q2 2016, the Company will focus on preserving its cash position, which as of March 1, 2016 was $35 million. \n \n\n\"We feel Crescita, with its combination of development and commercial stage assets and a strong balance sheet, is very well positioned for today's biotech environment,\" said Dan Chicoine, Crescita's Chairman and CEO. \"We are well funded to take our promising development-stage asset, Flexicaine deeper into the clinic, but await feedback from the FDA before determining our next clinic...