right time?, page-14

...an example of why we're all going a bit batty TL..

Phosphagenics Licenses Diclofenac Gel for Indian Market


4 November 2011

Melbourne drug delivery technology company, Phosphagenics Limited (ASX: POH, OTCQX: PPGNY), has licensed TPM/diclofenac, its topical non-steroidal pain formulation, to Themis Medicare Pvt Ltd of Mumbai for the Indian market.

This represents Phosphagenics’ first commercial deal in India and its first licensing agreement of its diclofenac product. Under the terms of the agreement, Themis Medicare is committed to pay Phosphagenics an undisclosed up-front fee and double-digit royalty payments on sales.

Themis Medicare is an Indian company that manufactures, formulates and markets its own products throughout India and internationally. It has four state of the art manufacturing facilities.

This licensing deal is an exclusive one for the Indian market with Themis Medicare obligated to launch the over the counter TPM/diclofenac product within 12 months.

Diclofenac is a non-steroidal anti-inflammatory drug (NSAID) that works to reduce pain by reducing inflammation. It is used as an active ingredient to reduce pain and inflammation and administered in a tablet form as well as in topical formulations. The most popular topical brand is Voltaren Emulgel™.

In 2009 Phosphagenics announced clinical results that compared its formulation with Voltaren Emulgel™. The Phosphagenics formulation clearly showed more rapid absorption and deeper penetration than Voltaren Emulgel™. More recently

Phosphagenics conducted in vitro comparative studies demonstrating that its TPM® formulation delivered more diclofenac through human skin than commercial products currently sold into the Indian market.

“This deal represents another endorsement of the superior delivery capabilities of the patented TPM® technology as well as a new revenue source for the company. We expect this to lead to other licensing arrangements for diclofenac in other regions of the world,” said Phosphagenics CEO.

The global diclofenac market exceeds US$1 billion per annum.


..only a year plus late, but at least now we've got Novartis on board