Apricus Announces Laboratoires Majorelle to Market Vitaros in France, Monaco and Certain African Countries

Apricus Biosciences

announced today that Apricus signed an exclusive license agreement with Laboratoires Majorelle to market Vitaros®, its topical on-demand product for the treatment of erectile dysfunction ("ED"), in France, Monaco and certain African countries (the "Territory"). Under the terms of the agreement, Apricus is eligible to receive up to $4 million from Majorelle in upfront and regulatory milestone payments. Apricus is also eligible to receive up to approximately $21 million in milestone payments on future sales, plus double-digit tiered royalties based on Majorelle's net sales of the product in the Territory. In exchange, Majorelle will have the exclusive right to commercialize Vitaros® in the Territory. In addition, Majorelle has agreed to minimum marketing commitments for Vitaros®, including the expansion of its existing sales force in France. "Given their extensive depth and experience in the urology market, Majorelle is well equipped to bring the unique benefits of Vitaros® to patients and health care providers in these important territories," said Richard Pascoe, Chief Executive Officer of Apricus. "With their strong and growing commercial organization, led by a highly experienced management team, and their impressive financial commitment to marketing Vitaros®,