Apricus Expands Exclusive License Agreement With Sandoz Affiliate, Apricus to Receive Up to $63M in Milestone Payments

Apricus Biosciences

announced today that it has expanded its exclusive license agreement with Hexal AG, an affiliate within the Sandoz Division of the Novartis Group

of Companies ("Sandoz"), for the commercialization of Vitaros®, indicated for the treatment of patients with erectile dysfunction ("ED"). In addition to the in-place collaboration in Germany, this expanded agreement now includes Austria, Belgium, Denmark, Finland, Iceland, Luxemburg, the Netherlands, Norway, Sweden and Switzerland (the "Expanded Territory"). In combination with the previously signed license agreement for Germany, Apricus is now eligible to receive up to approximately $63 million from Sandoz in upfront, regulatory, launch and sales milestone payments for Vitaros® in Germany and the Expanded Territory, which includes up to $4.5 million in new upfront and launch milestone compensation for the Expanded Territory.