EXHIBIT 99.1
Ceragenix and Dr.
Reddy’s Enter Into Distribution and Supply Agreement for
EpiCeram®
DENVER—Ceragenix
Pharmaceuticals, Inc. (OTCB:CGXP), a biopharmaceutical company
focused on infectious disease and dermatology today announced that
it has entered into an exclusive distribution and supply agreement
(the “Agreement”) with Dr. Reddy’s Laboratories,
Inc., a subsidiary of Dr. Reddy’s Laboratories Limited
(NYSE:RDY), to commercialize EpiCeram®, a prescription topical
cream for treating atopic dermatitis and other dry skin conditions,
in the United States.
The Agreement grants
Dr. Reddy’s exclusivity in the U.S. for the distribution and
marketing of EpiCeram® while Ceragenix will be responsible for
the manufacturing and supply of the product. Under the
Agreement, Ceragenix will receive certain milestone payments over
the Agreement period. Upon commercialization of the product,
Ceragenix will receive royalty payments based on net sales.
Dr Reddy’s expects to launch EpiCeram® within a year
through a new salesforce targeting dermatologists.
Steven Porter Chairman
and CEO of Ceragenix said, “We are very pleased to be
partnering with Dr. Reddy’s to commercialize
EpiCeram®. We are very impressed with the team assembled
by Dr. Reddy’s and we look to forward bringing this product
into the market together. As we’ve stated in the past,
we believe that patients and physicians alike will find
EpiCeram’s® combination of efficacy and safety profile to
be a welcome alternative in the treatment of atopic
dermatitis.”
About
EpiCeram®
EpiCeram® is a
topical cream that utilizes Ceragenix’s Barrier Repair
Technology. In April 2006, the FDA provided clearance to
market EpiCeram® to improve dry skin conditions and to relieve
and manage the burning and itching associated with various
dermatoses including atopic dermatitis (eczema), irritant contact
dermatitis, radiation dermatitis, and other dry skin conditions by
maintaining a moist wound and skin environment. All of these
conditions are associated with a deficient skin barrier
function.
About
Ceragenix
Ceragenix
Pharmaceuticals, Inc. is a biopharmaceutical company that
discovers, develops and commercializes novel anti-infective drugs
based on its proprietary class of compounds, Ceragenins™ (or
CSAs). Active against a broad range of gram positive and negative
bacteria, these agents are being de
