Majorelle to market Apricus’ ED product in France, Monaco and certain African countries

USA-based Apricus Biosciences (Nasdaq: APRI) has signed an exclusive license agreement with Laboratoires Majorelle, a French company specializing in the therapy area of gynecology, to market Vitaros (alprostadil), its topical on-demand product for the treatment of erectile dysfunction (ED), in France, Monaco and certain African countries.

Under the terms of the accord, Apricus is eligible to receive up to $4 million from Majorelle in upfront and regulatory milestone payments, as well as around $21 million in milestone payments on future sales, plus double-digit tiered royalties based on Majorelle's net sales of the product in the Territory. In exchange, Majorelle will have the exclusive right to commercialize Vitaros in the Territory. In addition, Majorelle has agreed to minimum marketing commitments for Vitaros, including the expansion of its existing sales force in France.

"Given their extensive depth and experience in the urology market, Majorelle is well equipped to bring the unique benefits of Vitaros to patients and health care providers in these important territories," said Richard Pascoe, chief executive of Apricus, noting that, "with their strong and growing commercial organization, led by a highly experienced management team, and their impressive financial commitment to marketing Vitaros, we look forward to Majorelle's successful launch of the only topical on-demand ED treatment in France and other French speaking countries."