Innocoll Agrees the Sale of its CollaRx(R) GENTAMICIN SURGICAL IMPLANT and European Sales and Marketing Infrastructure to E...( ASHBURN Va. Sept. 6 /- Innocoll I...),Health

ASHBURN, Va., Sept. 6 /PRNewswire/ -- Innocoll, Inc. announced that it has agreed the sale of its CollaRx(R) GENTAMICIN SURGICAL IMPLANT and European sales and marketing infrastructure to EUSA Pharma Inc., a transatlantic specialty pharmaceutical company focused on oncology, pain control and critical care. The transaction provides EUSA with rights to Innocoll's GENTAMICIN SURGICAL IMPLANT, a biodegradable leave-behind surgical implant for the treatment and prevention of surgical site infections, for all worldwide markets except the US. Similar rights to Innocoll's two late stage development products, CollaRx GENTAMICIN TOPICAL for the treatment and prevention of diabetic foot infections and CollaRx BUPIVACAINE IMPLANT for the management of post-operative pain, were included as part of the transaction, together with an option to the US rights for the BUPIVACAINE IMPLANT. Innocoll will transfer to EUSA its pan-European sales and marketing infrastructure, which has a presence in over 20 European territories, as well as its distribution network covering more than 25 further countries around the world. Under the terms of the agreement, Innocoll will continue to manufacture and supply the products to EUSA and will progress the development of the late-stage clinical programs. In return, EUSA will make an upfront payment, pay development, regulatory and sales performance milestone fees and make an equity investment in Innocoll's parent company.

Commenting on the announcement, Dr. Michael Myers, President and CEO of Innocoll, Inc., said "In the relatively short time since acquiring the commercial rights to the Gentamicin Implant in 2005, we have successfully created a dedicated sales and marketing infrastructure and have seen substantial growth in product sales as a result. We believe EUSA is well positioned and fully committed to further build on the recent sales growth in Europe and expand into other international markets. Innocoll's products are an excellent
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