Product candidate may have the potential to
transform tattoo removal process
MISSISSAUGA, ON, May 2, 2016 /PRNewswire/ - Cipher Pharmaceuticals
Inc. (NASDAQ:CPHR; TSX:CPH) ("Cipher" or "the Company") today
announced it has licensed the worldwide rights to develop and
commercialize an investigational tattoo removal cream being
developed at Dalhousie University in
Halifax, Nova Scotia by
Alec Falkenham, a PhD student in the
Department of Pathology at Dalhousie
University. The product candidate, which is applied
topically, has shown encouraging results in pre-clinical testing
for the removal or reduction of the appearance of tattoos.
"This technology has the potential to transform the process of
tattoo removal and may give people the option of a topical cream
instead of laser treatments, which are painful, costly and
time-consuming," said Shawn O'Brien,
President and CEO of Cipher. "As we continue to build our pipeline,
we will complement our predominantly late-stage assets with
investments in select early-stage product candidates that we
believe have high potential and can be commercialized
efficiently."
The agreement was fostered through Dalhousie's Industry Liaison
and Innovation office.
"We are very pleased to have Cipher Pharmaceuticals partner with
Dalhousie University on this
innovation," says Dr. Martha Crago,
Vice-President Research at Dalhousie
University. "It is important for Dalhousie to partner with a
company that has the experience and expertise to bring an
innovation like this to market. We are also extremely proud of the
hard work and research of Dalhousie student, Alec Falkenham. This is an exciting moment for
him and for the university."
"I am very pleased and excited that Cipher Pharmaceuticals may
eventually be able to bring this technology to the marketplace,"
says Alec Falkenham. "To see
something that started out with me thinking about the tattoo
process from an immune point of view at the university, to the
development of a cream that could make a difference for people who
want an alternative process for tattoo removal, is very
exciting."
Falkenham explains the basis of the technology, "When a person
gets a tattoo, the pigment from the ink deposits into the skin
where it's then consumed by white blood cells called
macrophages. These cells gather at the site of the tattoo,
engulfing the pigment and creating the permanent tattoo. When the
liposome cream is applied to the tattoo, it penetrates the skin and
destroys macrophages containing tattoo pigment, resulting in a
fading tattoo."
According to a poll conducted by Harris Interactive, one in
eight American adults who have tattoos regret getting
one.1 Cipher Pharmaceuticals believes the tattoo removal
cream could be used as a replacement for laser tattoo removal or as
adjunct therapy to reduce the frequency and cost of the laser
removal process. Should the product be commercialized, Cipher
expects it to be a prescription medication available through
physicians, principally dermatologists.
About Cipher Pharmaceuticals Inc.
Cipher Pharmaceuticals (NASDAQ:CPHR; TSX:CPH) is a rapidly
growing specialty pharmaceutical dermatology company with a
diversified portfolio of commercial-stage products with the goal of
becoming the most customer-centric dermatology company
in North America.
Cipher completed seven transactions in 2015, including the
acquisition of Innocutis and its nine branded dermatology products,
to build its U.S. commercial presence, expand its Canadian
dermatology franchise and broaden its pipeline. Cipher is
well-capitalized to drive long-term, sustained earnings growth by
leveraging its proven clinical development capabilities and
efficient commercial execution. For more information,
visit www.cipherpharma.com.
About Dalhousie
University
Dalhousie University is Atlantic Canada's leading research-intensive
university and a driver of the region's intellectual, social and
economic development. Located in the province of Nova Scotia, Dalhousie's 18,500 students and 6,000 faculty
and staff foster a vibrant, purpose-driven community. Across
12 faculties, Dalhousie students
and researchers conduct more than $140
million in funded research and benefit from over 200
partnership agreements in 63 countries. Through learning and
discovery, Dalhousie is united in
its quest to make a lasting impact on our world.
Forward-Looking Statements
Statements made in this news release may be forward-looking
and therefore subject to various risks and uncertainties. The words
"may", "will", "could", "should", "would", "suspect", "outlook",
"believe", "plan", "anticipate", "estimate", "expect", "intend",
"forecast", "objective", "hope" and "continue" (or the negative
thereof), and words and expressions of similar import, are intended
to identify forward-looking statements. Certain material factors or
assumptions are applied in making forward-looking statements and
actual results may differ materially from those expressed or
implied in such statements. Factors that could cause results to
vary include those identified in the Company's Annual Information
Form, Form 40-F and other filings with Canadian and U.S. securities
regulatory authorities. These factors include, but are not limited
to, our ability to enter into in-licensing, development,
manufacturing and marketing and distribution agreements with other
pharmaceutical companies and keep such agreements in effect; our
dependency on a limited number of products; integration
difficulties and other risks if we acquire or in-license
technologies or product candidates; reliance on third parties for
the marketing of certain products; the product approval process is
highly unpredictable; the timing of completion of clinical trials;
reliance on third parties to manufacture our products; we may be
subject to product liability claims; unexpected product safety or
efficacy concerns may arise; we generate license revenue from a
limited number of distribution and supply agreements; the
pharmaceutical industry is highly competitive; requirements for
additional capital to fund future operations; dependence on key
managerial personnel and external collaborators; no assurance that
we will receive regulatory approvals in the U.S., Canada or any other jurisdictions; certain of
our products are subject to regulation as controlled substances;
limitations on reimbursement in the healthcare industry; limited
reimbursement for products by government authorities and
third-party payor policies; various laws pertaining to health care
fraud and abuse; reliance on the success of strategic investments
and partnerships; the publication of negative results of clinical
trials; unpredictable development goals and projected time frames;
rising insurance costs; ability to enforce covenants not to
compete; risks associated with the industry in which it operates;
we may be unsuccessful in evaluating material risks involved in
completed and future acquisitions; we may be unable to identify,
acquire or integrate acquisition targets successfully; operations
in the U.S.; inability to meet covenants under our credit
facilities; compliance with privacy and security regulation; our
policies regarding returns, allowances and chargebacks may reduce
revenues; certain regulations could restrict our activities;
additional regulatory burden and controls over financial reporting;
reliance on third parties to perform certain services; general
commercial litigation, class actions, other litigation claims and
regulatory actions; being a foreign private issuer may limit the
information available to U.S. shareholders; we may lose our foreign
private issuer status which could result in significant additional
costs; the potential violation of intellectual property rights of
third parties; our efforts to obtain, protect or enforce our
patents and other intellectual property rights related to our
products; changes in U.S., Canadian or foreign patent laws;
litigation in the pharmaceutical industry concerning the
manufacture and supply of novel and generic versions of existing
drugs; inability to protect our trademarks from infringement;
shareholders may be further diluted; volatility of our share price;
a significant shareholder; we do not currently intend to pay
dividends; our operating results may fluctuate significantly; and
our debt obligations will have priority over the Common Shares in
the event of a liquidation, dissolution or winding up. All
forward-looking statements presented herein should be considered in
conjunction with such filings. Except as required by Canadian or
U.S. securities laws, the Company does not undertake to update any
forward-looking statements; such statements speak only as of the
date made.
__________________________
1 Harris Interactive poll from January 2012
SOURCE Cipher Pharmaceuticals Inc.