NY COMPANY GETS RIGHTS FOR TREATMENT OF HERPES

NY COMPANY GETS RIGHTS FOR TREATMENT OF HERPES

Pharmaceutical Resources Inc. said it has obtained from Bio-Pharma Inc. an exclusive option to acquire all worldwide ownership, development, marketing and distribution rights to a pharmaceutical compound being studied for the treatment of herpes viral lesions.

In exchange for the option, Pharmaceutical Resources has agreed to fund further evaluation of the compound. If Pharmaceutical Resources chooses to exercise its option, the company will make a $4 million payment and grant certain royalty rights to Bio-Pharma.Further research on the compound, which can be delivered topically, will determine whether it can significantly reduce the healing time of oral and genital herpes lesions. The compound represents the first drug entity that Pharmaceutical Resources intends to develop commercially. It would have to file a new drug application to obtain approval from the Food and Drug Administration.

Pharmaceutical Resources intends to initially seek regulatory approval outside the United States to expedite commercialization of the product.