VIDEO - Crescita Therapeutics CEO: Advancing Pliaglis in Europe

Pharmaceutical Investing

CEO Serge Verreault says a new partnership with Cantabria Labs will bring Pliaglis to Italy, Portugal, France and Spain.

Like many companies at this year’s Bloom Burton & Co. Healthcare Investor Conference (BBHIC), Crescita Therapeutics (TSX:CTX), revealed significant news ahead of the two day show.

In late April, Crescita Therapeutics signed an out-licensing agreement with Cantabria Labs that will allow Cantabria Labs to sell and distribute Crescita’s Pliaglis platform in four more European countries.

Pliaglis is a prescription topical cream that is applied before certain dermatological procedures, including dermal filler injections, pulsed dye laser therapy, facial laser resurfacing and tattoo removals using lasers.

The partnership with Cantabria Labs brings Pliaglis to Italy, Portugal, France and Spain and gives it a presence in roughly 80 countries.

“Right now we have 24 countries where the product is approved by regulatory bodies and yet to be licensed,” CEO Serge Verreault said on day one of BBHIC. “We’re having a lot of opportunity in the next … year to find great partners to license (Pliaglis) and launch the product in those countries.”

Verreault explained that part of the reason for the partnership with Cantabria Labs is that Pliaglis is commercialized in Italy and it was important to find a commercial entity that could “maximize the product” in that country and the other territories.

He added that Cantabria Labs was an obvious choice because it has over 80 countries where its products are commercialized, including a strong presence in Italy, Spain, Portugal and France.

In the weeks following BBHIC, Crescita Therapeutics released its Q1 financial results, noting a year-on-year revenue increase of 16.4 percent in the quarter.

Watch the interview above for more on what Verreault had to say. And for more of our BBHIC interviews, you can watch them here on our YouTube channel.

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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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