MOBERG DERMA AND ALTERNA SIGNS DISTRIBUTION AGREEMENT FOR USA
Moberg Derma AB (publ.) and Alterna LLC have entered into a distribution and cooperation agreement for Emtrix® – a treatment of discolored and damaged nails caused by nail fungus (onychomycosis) or nail psoriasis. Under the agreement Alterna receives exclusive rights to sell Emtrix® in the U.S. and assumes responsibility for sales and marketing activities. Moberg Derma assumes production and supply responsibility. The agreement also includes co-funding of marketing activities and a net income-sharing mechanism.
Emtrix will be marketed under Alterna’s well established foot care brand Kerasal® and will be named Kerasal® Nail. The objective is to launch Kerasal® Nail before the year end and make it available in most major drugstore chains.
“This agreement is an important step in the global launch of Emtrix®. Through this partnership we combine Moberg’s leading nail product with Alterna’s excellent OTC marketing capabilities and leading US foot care brand Kerasal®. I am excited about the strategic fit and convinced that we jointly will make Emtrix® a success in the US as well”, says Peter Wolpert, President and CEO of Moberg Derma.
Damaged and discolored nails is a common problem in the U.S. About 30 – 40 million Americans suffer from damaged and discolored nails. “There is a large, unmet need in the United States for easy-to-use products that effectively and rapidly restore healthy nail appearance. We have had overwhelming positive feedback from both consumers and retailers. We are confident that we will successfully establish Kerasal® Nail as one of the market leaders”, says Steve Cagle, President and CEO of Alterna.
About Emtrix® and nail diseases
Emtrix® is a prescription free, topical nail product and has the potential to become first-line treatment for common nail disorders. Launch of Emtrix® was initiated in the first markets in September 2010 and the product rapidly became the Nordic market leader. Emtrix® is being launched in additional markets in 2011. Safety and efficacy have been demonstrated in several clinical studies including more than 600 patients. Emtrix® has a unique and rapid mechanism of action which brings visible improvements within 2-4 weeks of treatment. Nail fungus is the most common nail disease and afflicts approximately 10% of the general population and increasing with age. The estimated global market potential exceeds USD 1 billion. The untapped potential is significant since many patients remain untreated. It is generally recognized that there is a need for new efficacious and safe topical treatments.
About Kerasal
Kerasal® is the non-prescription brand podiatrists recommend more than any other* to eliminate cracked heels and soften and smooth extremely dry feet. Unlike ordinary foot creams or moisturizers, Kerasal’s richly concentrated ointment is a clinically proven formula to soften even the roughest, driest feet. Kerasal® is manufactured using a patent protected manufacturing process that cannot be replicated by store brands. Originally Kerasal® was available only from podiatrists. Since 2004 you can find Kerasal® Foot Ointment in major Drug, Food and Mass Merchandise stores.
*Based on 2009 Podiatrist Survey
For further information, please contact:
Peter Wolpert, President and CEO of Moberg Derma
Telephone: +46 8 522 307 00
Mobile: +46 70- 735 71 35
E-mail: peter.wolpert@mobergderma.se
Magnus Persson, IR
Mobile: +46 73-355 26 01
E-mail: magnus.persson@mobergderma.se
Moberg Derma discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08:00 am (CET) on July 11th, 2011.
About Moberg Derma
Moberg Derma AB (publ), based in Stockholm, develops patented topical pharmaceuticals for the treatment of common disorders through the use of innovative drug delivery. The company’s products are based on proven compounds, which reduce time to market, development costs and risk. Moberg Derma’s first product Emtrix® - for nail disorders - became the Nordic market leader directly after launch in autumn 2010. Emtrix® will be launched in additional markets in 2011.
The portfolio covers approved and launched products to projects in the preclinical and clinical phase. The company began operations at the Karolinska Institute in Stockholm in 2006. The share of Moberg Derma is quoted on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergderma.se
About Alterna
Founded in 2004, Alterna, LLC is an owner and marketer of therapeutic, over-the-counter (OTC) medicines and personal product brands. Our mission is to provide high quality, over the counter healthcare products to consumers and establish strong brands that increase profit for retailers. As a mid-market company we offer unique strengths in our ability to devote attention and resources to smaller, yet highly desirable brands. Alterna's principal brands, Kerasal® and JointFlex®, are primarily sold in drug, food, mass, and online stores. For further information, please visit: www.alternallc.com
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