SOURCE: Velcera, Inc.

June 09, 2008 06:01 ET

Velcera Announces Completion of Enrollment in VEL502 Clinical Trial

Milestone Reached in Advance of Target

YARDLEY, PA--(Marketwire - June 9, 2008) - Velcera, Inc. (OTCBB: VLCR), a specialty pharmaceutical company focused on pet health, announced today completion of patient enrollment for its confirmatory clinical study utilizing VEL502 via Promist™ delivery as a treatment for management of pruritus (itching) associated with allergic dermatitis in dogs. Canine allergic dermatitis is one of the most commonly occurring canine skin diseases, which irritates the skin causing the pet to scratch. VEL502 is Velcera's second product in development based on its patented Promist drug delivery system, which provides a fine liquid mist inside the oral cavity for systemic absorption, avoiding the need for pets to swallow tablets or liquids.

"Effective execution is critical in any clinical study and we are delighted to see this VEL502 study progress so quickly," stated Dennis Steadman, Velcera's Chief Executive Officer. Velcera announced the enrollment of the first pet in the VEL502 clinical study on April 23, 2008. "The response by investigators and pet owners has been outstanding, which we believe reflects the need for a product to treat this difficult canine condition," stated Steadman.

Final results of the clinical study are expected to be reported in the fourth quarter. "We look forward to providing veterinarians and pet owners with an effective steroid-reducing treatment associated with allergy, a major unmet need in canine health," added Mr. Steadman.

About Canine Allergy

Canine allergic dermatitis is one of the most common reasons dog owners take their itchy dogs to veterinarians, estimated to be a total potential market in excess of $400 million in the United States. Scratching can range from moderate to severe, which can cause irritation, hair loss, bleeding, infection and can keep owners up at night. Canine allergy is a complex disease with many underlying causes and current therapy involves various combinations of treatments. Currently, the most common treatment methods call for a long-term regimen of immunosuppressant agents, such as steroids, which can have significant side effects.

About the Pet Health Market

According to the American Pet Products Manufacturers Association, pet ownership and spending on pets are at an all time high. An estimated 71 million U.S. households (63%) own at least one pet and consumer spending on pets is projected to be in excess of $43 billion in 2008. Animal Pharm projects the U.S. pet health market to be $8.6 billion by 2010. A significant influence on the growth in these numbers has been the "humanization" of pets where, according to USA Today, 69% of owners believe that pets are members of the family.

About Velcera, Inc.

Velcera (www.velcera.com) is a specialty pharmaceutical company focused on innovation in the expanding pet health market. Velcera's product development targets new pet medicines in pain management, anti-allergy and parasiticides that can provide superior convenience and greater compliance than traditional products. Certain product candidates are based upon the patented Promist delivery technology, which has the potential to increase compliance and improve pet health as owners avoid the challenges in getting pets to swallow pills.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that could cause our actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Risks that may affect forward-looking information contained in this press release include, without limitation, the risk that the results of clinical trials may not support our claims and our lack of experience in developing and commercializing pet pharmaceutical products. Additional risks are described in our post effective-amendment No. 1 on Form S-1 to our SB-2/A Registration Statement filed on April 28, 2008. We assume no obligation to update these statements, except as required by law.

Contact Information

  • For more information, please contact:

    Velcera, Inc.
    Dennis F. Steadman
    President and CEO
    Phone: 267-757-3600
    Email Contact