Apricus Biosciences Issues Statement Regarding Registration of Shares Related to Finesco/Scomedica and PediatRx Transactions

Apricus Biosciences

today issued the following statement regarding the registration of 3,706,397 shares of the Company's common stock on U.S. Securities and Exchange Commission resale Form S-3, filed yesterday, July 16, 2012: "The shares Apricus Bio has registered in a resale S-3 filing relate to the Stock Contribution Agreement by and among Finesco, Scomedica and related parties, and Apricus Biosciences, Inc, as well as shares issued to PediatRx Inc. pursuant to the Termination Agreement by and between Apricus Biosciences, Inc. and PediatRx Inc. None of the shares relate to fund raising or financing activities. "As the Company announced on July 13, Apricus Bio has closed an agreement to own Finesco, the French parent and holding company of Scomedica, a leading French healthcare contract sales and marketing organization, by way of a share contribution. Finesco and Scomedica will operate as wholly-owned subsidiaries of Apricus Bio. Finesco's existing shareholders contributed to Apricus Bio 100% of the outstanding common stock of Finesco in exchange for 2,592,592 newly issued shares of Apricus Bio common stock valued at €7 million ($8.8 million USD). Additional, 740,671 newly issued shares worth approximately €1.8 ($2.3 million USD) are due in the first quarter of 2013 if Scomedica achieves certain revenue milestones during 2012. "As announced at the signing of the agreement, bringing Finesco and Scomedica into the Apricus Bio family of companies enables the Company to bring its own drugs and additional partnered drugs to the key French market to build a strong pipeline in this country, and is an important component of the Company's long-term commercial strategy in Europe."