Access Pharma (OTCQB:ACCP-OLD) announced on 7/29/09 that the Company's previously announced licensing agreement with Milestone Biosciences, LLC for the North American rights to commercialize and market MuGard has been terminated. In addition, Frank Jacobucci (formerly President & CEO of Milestone Biosciences), has joined Access as a consultant to assist with reimbursement, manufacturing, commercial launch activities, and ongoing discussions with potential licensee and co-promotion partners for MuGard in North America.
President & CEO, Jeffrey Davis, stated in the press release for the event that the commercial launch of MuGard has achieved "very significant and positive initial results and feedback" and that "clinical feedback and experience exceeds our expectations."
An updated list of upcoming milestones expected for Access Pharma includes the following:
- Final results expected during 3Q09 for SpePharm's post-approval marketing study of MuGard with interim results demonstrating no cases of oral mucositis in 140 patients with head and neck cancer being treated with radiation therapy.
- Listing on AMEX or Nasdaq exchanges from current OTCBB status during 2H09.
- MuGard launch in Asia expected during 2H09.
- A licensing or co-promotional agreement for MuGard in North America following termination of Milestone agreement.
- During 2H09, the Company plans to start multiple Phase 2 clinical trials evaluating both ProLindac (Europe + Asia) and thiarabine (data expected mid-2010).
- Planned sale of the Company's anti-infective dermatology assets (EcoNail - topical econazole and Pexiganan - a novel topical anti-infective).
- Licensing discussions for the Company's cobalamin-based nanopolymer drug delivery technology for the oral administration of a basal (long-acting) insulin product following mid-June announcement that two bio-pharmaceutical companies will conduct preclinical, animal studies before proceeding to more formal negotiations.
Disclosure: Long ACCP.OB