Wednesday, April 09, 2008

Ceragenix: $1.5M Milestone Payment from Dr. Reddy’s

Denver-based Ceragenix Pharmaceuticals (NASDAQ: CGXP.OB) a biopharmaceutical and medical device company focused on infectious disease and dermatology, announced that it received a $1.5M milestone payment pursuant to its exclusive distribution and supply agreement with Dr. Reddy’s Laboratories (NYSE: RDY), for the commercialization of EpiCeram®.

Ceragenix has two base technology platforms - Ceragenins™ for treatment of infectious disease and Barrier Repair for the treatment of dermatological disorders including atopic dermatitis, neonatal skin disorders and others. Ceragenin™ compounds are active against a broad range of gram positive and negative bacteria and has been used formulate Cerashield™ antimicrobial coatings for medical devices. The Company’s patented Barrier Repair technology is the platform for the development of two prescription topical creams - EpiCeram® and NeoCeram™. EpiCeram® has been cleared for marketing by the FDA and the Company has entered into an exclusive agreement with Dr. Reddy’s for marketing and sales in the US. Ceragenix anticipates that Dr. Reddy's will launch EpiCeram® during 2H08! That would be fantastic!

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