Houston and Hong Kong, April 10, 2012‐‐ PLx Pharma Inc, a Houston based pharmaceutical company developing gastrointestinal (GI) safer drugs has licensed to Lee’s Pharmaceutical Holdings Limited (Lee’s Pharma) the rights to register and commercialize in China, Hong Kong and Macau the PL2200 Aspirin, a GI safer aspirin product currently in development in the US, for prevention of cardiovascular diseases. Cardiovascular is one of the focus areas of Lee’s Pharma. Currently, Lee’s Pharma has 10 products either launched or under development for cardiovascular diseases such as pulmonary arterial hypertension, hypertension, heart failure and acute coronary disease.
“PLx has a technology that retains aspirin’s benefits and at the same time reduces its primary side effect, GI toxicity. This dramatically improves an already well known drug and we want to make it available to a large and growing Chinese population at risk for cardiovascular disease” says Benjamin Li, M.D., the Chief Executive Officer of Lee’s Pharma, “aspirin is also widely used for treating pain, inflammation and fever, and by making it GI safer there may be benefit for cancer prevention. The prospective clinical data particularly for GI cancers is interesting.”
Lee’s Pharma will have responsibility for getting PL2200 Aspirin approved in China and for commercializing it to provide a GI safer immediate release aspirin for patients most at risk for cardiovascular disease. PLx Pharma will receive a royalty based upon product sales.
“We are excited to partner with Lee’s Pharma to position PL2200 in the third largest pharmaceutical market in the world behind the US that will quickly become the second largest. Lee’s has the cardiology expertise to effectively market this product in China,” said Ron Zimmerman, the Chief Executive Officer of PLx Pharma.
About PLx Pharma
PLx Pharma is a privately held pharmaceutical company developing gastrointestinal (GI) safer formulations of proven non‐steroidal anti‐inflammatory drugs (NSAIDs) including aspirin, ibuprofen and indomethacin as well as other drugs for over‐the‐counter and prescription markets using the PLxGuardTM technology. These are investigational drugs and are not yet approved for commercial use.
Safe Harbor Statement
The statements in this news release, other than the historical financial information, may contain forward‐looking statements that involve risks and uncertainties that could cause actual results to differ from anticipated results. Further information on risk factor that could affect, among other things, Lee’s financial condition and results of operations is detailed in Lee’s IPO prospectus, as filed with the Main Broad of the Stock Exchange of Hong Kong Limited.
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