Cosmo announces successful conclusion of acne Phase II trial and agreement with Valeant to continue developing CB-03-01 in house Lainate, Italy - July 8, 2014 - Cosmo Pharmaceuticals S.p.A. (SIX: COPN) today informed that it had successfully concluded the phase II acne trials of CB-03-01 and that, prior to the upcoming end of phase II meeting with the FDA, both Cosmo and Valeant Pharmaceuticals International, Inc., the licensee (NYSE / TSX: VRX), had agreed that it was preferable for both parties for Cosmo to continue developing the drug. Consequently both Cosmo and Valeant agreed to unwind the present agreement and replace it with an agreement granting Valeant a right of first refusal should Cosmo decide to license out the drug after completing its development. Alessandro Della Chà, CEO, commented: "I am very pleased by the results of this phase II, and even more pleased that Cosmo can continue developing the products in-house, leveraging on all the accumulated know how. Their potential is very significant, so the retention of the rights now allow us to create a stronger franchise in the derma field. Together with CB-03-01 we now have 5 products in clinical development. Given our strong financial position and in-house expertise, we are well equipped to exploit the potential of this rich pipeline for the benefit of patients and shareholders." About Cosmo Pharmaceuticals Cosmo is a specialty pharmaceutical company that aims to become a global leader in the field of optimized therapies for selected Gastrointestinal and topically treated Skin Disorders. The company's proprietary clinical development pipeline specifically addresses innovative treatments for IBD, such as Ulcerative Colitis and Crohn's Disease, and Colon Infections. In addition, the Company is developing a diagnostic for the detection of colon cancer and a medical device for polyp excision as well as a new chemical entity for the topical skin treatment. Cosmo's MMX® products that have reached the market are Lialda®/Mezavant®/Mesavancol®, a treatment for IBD that is licensed globally to Giuliani and Shire Limited and Uceris(TM), the first glucocorticosteroid indicated for the induction of remission in active, mild to moderate ulcerative colitis, licensed in US to Salix and in the Rest of the World except for Japan to Ferring. Cosmo's proprietary MMX® technology is at the core of the Company's product pipeline and was developed from its expertise in formulating and manufacturing gastrointestinal drugs for international clients at its GMP (Good Manufacturing Practice) facilities in Lainate, Italy. The technology is designed to deliver active ingredients in a targeted manner in the colon. For further information on Cosmo, please visit the Company's website: www.cosmopharma.com Next events Half-year results 2014 30 July 2014 Contact Dr. Chris Tanner, CFO and Head of Investor Relations Cosmo Pharmaceuticals S.p.A. Tel: +39 02 9333 7614 Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Cosmo undertakes no obligation to publicly update or revise any forward-looking statements. Media Release (PDF) Provider Channel Contact Tensid Ltd., Switzerland newsbox.ch Provider/Channel related enquiries www.tensid.ch www.newsbox.ch firstname.lastname@example.org +41 41 763 00 50
Cosmo announces successful conclusion of acne Phase II trial and
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