Friday, August 15, 2008

DUSA grants patent license for dermatology product

By Mass High Tech Staff

In a move to grab a tighter hold of its intellectual property, DUSA Pharmaceuticals Inc. has granted a non-exclusive patent license for its vitamin-mineral product, Nicomide, to River’s Edge Pharmaceuticals LLC, of Suwanee, Ga.

DUSA (Nasdaq:DUSA), a dermatology pharmaceutical company located in Wilmington, made a one-year agreement with the U.S. Food and Drug Administration to follow FDA rules for dietary supplements in selling its vitamin-mineral product. As part of the agreement, DUSA will receive a share of the River’s Edge net revenues, though it does not include a trademark license.

In July, DUSA announced that it would voluntariliy hold manufacturing and marketing of dermatological-use Nicomide pending U.S. Food and Drug Administration approval,

When the company bought Sirius Laboratories Inc. in early 2006 for $30 million, it also acquired Sirius’ Nicomide, which had not received FDA approved registration.

DUSA Pharmaceuticals is primarily focused on the development and marketing of Levulan Photodynamic Therapy (PDT) for multiple medical indications, with a concentration on dermatology. PDT uses light-activated compounds such as Levulan to induce a therapeutic or detection effect.

In 2007, DUSA reported a net loss of $14.8 million on $27.7 million in total revenue.