Crescita Signs Licensing Agreement For Its MMPE Technology

Crescita Therapeutics (TSX:CTX) announced an exclusive license agreement with a dermatological contract research company in order to develop prescription treatments using their Multiplexed Molecular Penetration Enhancer (MMPE) technology.
As quoted in the press release:

Under the terms of the agreement, the Licensee will be responsible for developing up to three dermatological products.  The Licensee will oversee and fund the cost of all development activities until commercialization partner(s) for the products are secured.  Crescita is entitled to a share of royalties and other consideration received by the Licensee from such partners based on a formula that includes compensation to Crescita for granting the Licensee the exclusive license to the MMPE technology.
“This agreement is a good illustration of Crescita’s continuing ability to capitalize on our existing drug technologies, as we work to build the non-prescription side of the business,” said Dan Chicoine, Crescita’s Chairman and Interim CEO.  “Crescita will not incur any research and development costs under the terms of the license, but the Company stands to gain an attractive return if the development activities of our licensing partner are successful.”
About Multiplexed Molecular Penetration Enhancer Technology
The MMPE technology uses synergistic combinations of pharmaceutical excipients included on the FDA’s Inactive Ingredient Guide for improved topical delivery of active pharmaceutical ingredients (APIs) into or through the skin.  The benefits of this technology include the potential for increased penetration of APIs with the possibility of improved efficacy, lower API concentration and/or reduced dosing.  Issued U.S. patents provide intellectual property protection through March 6, 2027.
AboutCrescita Therapeutics Inc.
Crescita (TSX:CTX) is a publicly traded, Canadian commercial dermatology company with a portfolio of non-prescription skincare products and prescription drug products for the treatment and care of skin conditions and diseases and their symptoms.  Crescita owns multiple proprietary drug delivery platforms that support the development of patented formulations that can facilitate the delivery of active drugs into or through the skin.  Crescita’s board of directors and management team have demonstrated success in building Crescita’s predecessor company, Nuvo Research Inc., including developing multiple drugs that are now approved and commercialized and negotiating multiple licensing transactions. For additional information, please visit www.crescitatherapeutics.com.

Click here to read the full press release.