AmDerma and Oculus Innovative Sciences Enter Into Multi-Country Agreement to Develop and Commercialize Novel Microcyn-Based Drugs for Major Dermatological Conditions

AmDerma Pharmaceuticals, LLC, a privately owned company (and parent company of Quinnova Pharmaceuticals, Inc.) and Oculus Innovative Sciences

, today announced the execution of an agreement to develop and commercialize Oculus' novel proprietary Microcyn® Technology drug compounds for major dermatological conditions, including acne. The exclusive agreement includes licensing of the dermatology compounds in the United States and India, with a first right of refusal for all member states of the European Union, Canada, Brazil and Japan. Oculus retains all rights for the rest of the world. Under the terms of the agreement, Oculus received an undisclosed upfront payment, and will receive multiple clinically based payments upon achievement of several development and regulatory milestones for both acne and secondary indications, as well as future escalating double-digit royalties on net sales of products. The agreement also memorializes the intent for future joint development of additional dermatological products and indications.