Navigation Links
Derma Sciences Obtains Exclusive Worldwide Rights to MEDIHONEY(R)
Date:12/22/2009

PRINCETON, N.J., Dec. 22 /PRNewswire-FirstCall/ -- Derma Sciences, Inc. (OTC Bulletin Board: DSCI), a specialty medical device and pharmaceutical company focused on advanced wound care, today announced that it has completed a comprehensive Heads of Agreement with Comvita New Zealand Ltd. (Comvita) of Paengaroa, New Zealand, covering the worldwide licensing rights for MEDIHONEY® professional wound care and skin care products.

The agreement effectively triples the potential market for Derma Sciences' MEDIHONEY® products. The company currently has North & South America rights only, representing about one-third of the total market, and the agreement would give Derma Sciences rights to the remaining 67%. Comvita controls approximately 75% of worldwide Leptospermum (manuka) honey production and are the owner of key intellectual property and patents concerning the use of honey in medical dressings.

The Heads of Agreement calls for the following:

  1. Derma Sciences to have exclusive worldwide rights to manufacture and sell the full range of MEDIHONEY® wound care and skin care products to the professional and medical market worldwide.
  2. Derma Sciences to manufacture the range of MEDIHONEY® products for Comvita to sell to OTC customers.
  3. Comvita to supply medical-grade manuka honey to Derma Sciences.
  4. Derma Sciences to have all IP rights to MEDIHONEY®, including patents involving dressings composed of more than 50% manuka honey.
  5. A joint Research & Development cooperation agreement between Derma Sciences and Comvita.

The agreement also states that Comvita CEO Brett Hewlett will join Derma Science's Board of Directors.

The transaction is subject to certain financing contingencies and Derma Sciences' listing on NASDAQ. Derma Sciences expects that the financing contingencies will be satisfied and the NASDAQ listing accomplished prior to the end of January 2010. License payment details were not disclosed, but the transaction will be in cash and Derma Sciences common shares, as well as customary royalty and milestone payments. Comvita currently holds a 10.1% stake in Derma Sciences.

Derma Sciences and Comvita expect to sign the definitive license by February 1, 2010.

Edward J. Quilty, Chairman & CEO of Derma Sciences, said, "MEDIHONEY® has been a major success for our company ever since our product launch in 2007. The dressing line enjoys tremendous clinical and nursing support in the wound care community, and is considered a top new dressing in its category. There are currently over 15 peer review articles and 25 clinical posters detailing its use."

Comvita Chairman Neil Craig said, "We are pleased to finalize the agreement which was delayed over a year due to the turmoil in the global financial markets. The agreement signals a major milestone for Comvita's significant investments into the application of honey in medical applications. We have a great deal of confidence in Derma's ability to exploit the considerable opportunity for MEDIHONEY® in the professional medical market--they are, after all, specialists in the field."

Quilty continued, "We've added 10 direct sales reps and several manufacturers reps since we first acquired MEDIHONEY®. As a result of the increase, MEDIHONEY® revenue nearly doubled, from $0.97 million in the first nine months of 2008, to $1.90 million during the first nine months of 2009. Now that Derma has secured a long-term agreement, we plan to significantly increase the size of our sales force in 2010. We will create a Managing Director position in Europe and are currently interviewing candidates."

"Derma Sciences plans to build its global strategy around the MEDIHONEY® brand. We firmly believe that this agreement will enable our company to significantly expand its international footprint," Quilty concluded.

Under the terms of an earlier Agreement signed in 2006, Derma Sciences held the manufacturing and distribution rights for MEDIHONEY® to the medical and professional market in the Americas for a period of 5 years. This new Agreement affords Derma Sciences with the global rights in perpetuity, as well as security of supply of medical grade honey and new technology developments in this area well into the future

About Derma Sciences, Inc.

Derma Sciences is a specialty medical device / pharmaceutical company focusing on advanced wound care. Its key product, MEDIHONEY®, is sold throughout the world by Derma Sciences and Comvita New Zealand -- the licensor of the patented honey-based technology -- and is the leading brand of honey-based dressings for the management of wounds and burns. The product has been shown to be effective in a variety of wounds and burns, and was the focus of a positive large-scale randomized controlled trial on leg ulcers. Derma's recently FDA cleared BIOGUARD(TM) Barrier Dressing is the Company's latest new product entrant into the $14 billion global wound care market. Derma also has in development DSC127, a novel angiotensin analog for accelerated wound healing and scar reduction. Patient enrollment for a Phase II study began in Q4 of 2008. Primary endpoint results from this study are expected to be announced within Q3 of 2010.

About Comvita New Zealand Ltd.

Comvita is a premium healthcare product and life sciences company established in 1974 by Claude Stafford and Alan Bougen. Its raw materials are mainly honey products and other bee-related produce such as pollen and the antibacterial resin propolis. Goods are processed locally in two purpose-built manufacturing facilities and distributed globally.

The manufacture and distribution of premium grade Manuka honey is one of Comvita's core activities, and the honey is sold in thousands of health stores and other retail outlets around the globe. Comvita is also diversifying into other natural health care lines.


    Contact:   Derma Sciences, Inc.
               Edward J. Quilty
               Chairman and CEO
               equilty@dermasciences.com
               (609) 514-4744

               The Investor Relations Group
               212-825-3210
               Jason Strominger (Investor Relations)
               Janet Vasquez (Media Relations)

SOURCE Derma Sciences, Inc.


'/>"/>
SOURCE Derma Sciences, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Perrigo Confirms Filing for Generic Version of Clobex(R) Spray and Announcement of Lawsuit by Galderma and Dermalogix
2. Cardium Files FDA 510(k) Application for U.S. Marketing Clearance of ExcellagenXL(TM) Topical Gel and ExcellagenFX(TM) Flowable Collagen Protein-Based Matrix for Diabetic, Pressure and Venous Ulcers and Other Dermal Wounds
3. Dermagen Reports Successful Phase I/IIa Clinical Trial for Atopic Dermatitis
4. Derma Sciences Files S-1 Registration Statement
5. Derma Sciences Announces Date of Its Third Quarter 2009 Earnings Release and Conference Call
6. Orange County Dermatologist Garners Outstanding Results With New Thermage CPT(R)
7. Shire Reports Tolerability and Clinical Effects Results of Daytrana(R) (methylphenidate transdermal system) from Study in Adolescents with ADHD
8. Derma Sciences Announces Multiple Clinical Presentations of MEDIHONEY(R) at Upcoming Major Wound Care Conference
9. Estrogen Getting Cool Reception From Dermatologists for Mixed Results in Improving Appearance of Skin
10. Accent on Aesthetics Plastic Surgery Medical Center Selects Artefill to Meet Growing Patient Demand for a Longer Lasting Dermal Filler
11. BioCis Pharma Reports Positive Phase IIa Clinical Results in Atopic Dermatitis
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... SAN DIEGO , March 24, 2017  GenomeDx ... (Genomics Resource Information Database) and Decipher® Prostate Cancer Classifier ... Annual European Association of Urology (EAU) Congress held March ... . The Annual EAU Congress is ... and most comprehensive research in the urological field. ...
(Date:3/24/2017)... , March 23, 2017  Provectus Biopharmaceuticals, ... the "Company"), a clinical-stage oncology and dermatology biopharmaceutical ... Definitive Financing Commitment Term Sheet (the "Definitive Financing") ... group of the Company,s stockholders, who are referred ... in a Form 8-K filed with the Securities ...
(Date:3/23/2017)... , March 23, 2017 Mosaic Life Care, based in St. ... registration process across its network of 58 clinics, located in 22 cities, and its ... and innovative ways to improve the delivery of health care to its patients, including ... ... Mosaic Life Care St. Joseph Medical Center ...
Breaking Medicine Technology:
(Date:3/24/2017)... ... March 24, 2017 , ... In just ... EcoQube Frame vertical micro-veggies garden on Kickstarter . Surpassing the $100,000 milestone ... with nearly 2,000 consumers (and counting) already backing the campaign. , “We ...
(Date:3/24/2017)... ... March 24, 2017 , ... Viewers who like to educate themselves on ... cultural practices, goods, services, and societal issues tend to appreciate and love the "Informed" ... practice of utilizing running events for causes around the world. , Running ...
(Date:3/24/2017)... ... 2017 , ... “End Time GPS”: a dauntless and enlightened study of ... GPS” is the creation of published author, Wesley Gerboth, a World War II veteran, ... space-vehicle projects. Now, at age ninety-one, he shares the Wisdom God bestowed upon him ...
(Date:3/23/2017)... , ... March 23, 2017 , ... A recent report ... entry into teacher preparation programs. The NCTQ report suggests, based on a review of ... would significantly improve teacher quality in the U.S. It argues that this higher bar ...
(Date:3/23/2017)... ... , ... The IoT (Internet of Things) is revolutionizing the way the world ... businesses and individual consumers alike. Laboratories can maximize their profit margin by increasing ... $4 trillion to $11 trillion dollars by the year 2025. McKinsey expects the IoT ...
Breaking Medicine News(10 mins):