SOURCE: FPS Pharma Inc.

FPS Pharma Inc.

March 08, 2016 18:09 ET

FPS Pharma Asia Signs Exclusive IP Rights License Agreement With AfGin Pharma Licensing, LLC

WEST KELOWNA, BC --(Marketwired - March 08, 2016) - FPS PHARMA INC. ("FPS Pharma" or the "Company") is pleased to announce that FPS Pharma Asia Limited (the "Licensee" and /or "FPS Pharma Asia"), a wholly owned Hong Kong subsidiary, has signed an exclusive Intellectual Property Rights ("IP Rights") Licensing Agreement with Florida based AfGin Pharma Licensing, LLC (the "Licensor"). 

The IP Rights mean the Licensor's rights in:

(a) a unique drug delivery system encompassing know-how, inventions, technical data and specifications, formulations, technology, trade secrets, intellectual property, and other proprietary methods and information involving:
     
  (i) the topical application of medications at the back of the neck at the hairline ("BONATH") and elsewhere at the back of the neck, back of ears, and temples, used soley or in combination with other drugs commonly thought to work synergistically for the treatment of migraine and other chronic headache conditions (also described in United States Patent No. 8,329,734 issued on December 11, 2012 entitled Topical Therapy for Migraine);
     
  (ii) the topical application of medications at the back of the neck at the hairline ("BONATH") and elsewhere at the back of the neck, back of ears and temples, used soley for the treatment of Parkinson's disease (also as described in United States Patent No. 8,592,424 issued on November 26, 2013 entitled Topical Regional Neuro-Affective Therapy) or
     
  (iii) the topical application of medications to the peripheral nerves: feet, hands, scalp, and other specific areas of peripheral neuropathic dysfunction for the treatment of diabetic peripheral neuropathy, chemotherapy related peripheral neuropahy, hereditary peripheral neuropathies, and certain other peripheral neuropathic processes (also as described in United States Patent Application No. 61/935,553 filed February 4, 2014, entitled Topical Peripheral Neuro-Affective (TPNA) Therapy for Neuropathic Conditions; and
     
(b) any related IP Rights and patent applications and patents that issue in the Field and Territory with respect to the aforesaid technology, including without limitation all divisional, continuations, reissues, renewals, re-examinations, extensions or additions to any such IP Rights.

FPS Pharma Asia has the exclusive IP Rights for Indonesia, Malaysia, Thailand, Laos, Cambodia, Viet Nam, Myanmar, Sri Lanka and Hong Kong.

The Licensor's compensation is based on a running royalty rate of 5% of Net Product Sales of FPS Pharma Asia.

ON BEHALF OF THE BOARD OF DIRECTORS

"James R. Brown"

James R. Brown
Chairman, President & CEO

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • James R. Brown
    778-754-3000