Navigation Links
The Quigley Corporation Licenses Naturally Derived Compound For Scar Improvement; License Requires Payments Totaling $1.1 Million To The Quigley Corporation Over A Five Year Period For Exclusive Ownership
Date:2/24/2009

DOYLESTOWN, Pa., Feb. 24 /PRNewswire-FirstCall/ -- The Quigley Corporation (Nasdaq: QGLY) www.quigleyco.com, today announced that it has signed a license with assignment of ownership agreement for its patented formulation QR-340 developed by its wholly owned subsidiary, Quigley Pharma Inc. The compound has been clinically tested and shown to improve the appearance of scars in a comparative study. The Agreement is with Levlad, LLC/Natures Gate, www.natures-gate.com, a manufacturer and marketer of personal care products based on botanicals.

The general terms of the agreement allow the assignee to further refine, develop and commercialize the product with exclusivity and eventual full ownership of the patent within five years, beginning January 2009. The agreement is based on required royalty payments totaling $1.1 million to The Quigley Corporation over the time period. Under the terms of the agreement, if the minimum payments and terms are not met within the five year period, Quigley retains full rights and ownership of the property. However, Levlad can continue to pay per unit royalties beyond five years for a non-exclusive license.

The cosmetic and skin care market is not a focus of The Quigley Corporation. The patented QR-340 formulation had demonstrated potential consumer benefits in a double blind clinical trial, (Press Release, April 18, 2005, http://www.quigleyco.com/news/nr/041805.php), and a decision was made to realize a return on the investment in the technology through a sale of the asset to a successful company that had an established presence, identity and proven success in cosmetics and skin care. Quigley Pharma research has demonstrated that this compound showed an improvement in the visual appearance of scars in a comparative study versus a category leading OTC national brand name scar cream.

Dr Richard Rosenbloom MD, PhD, Exec VP, and COO of Quigley Pharma stated: "It is gratifying to see one of our patented and positively tested formulations come closer to benefiting the consumer and providing a return on our investment."

About The Quigley Corporation

The Quigley Corporation (Nasdaq: QGLY, http://www.Quigleyco.com) is a diversified natural health medical science company. Its Cold Remedy segment is a leading marketer and manufacturer of the COLD-EEZE(R) lozenges, clinically proven to cut the common cold nearly in half. COLD-EEZE customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies. The Quigley Corporation has wholly owned subsidiaries; Quigley Manufacturing Inc. consists of two FDA approved facilities to manufacture COLD- EEZE(R) lozenges as well as fulfill other contract manufacturing opportunities and Quigley Pharma Inc. (http://www.QuigleyPharma.com) conducts research in order to develop and commercialize a pipeline of patented botanical and naturally derived potential prescription drugs.

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risk, uncertainties and other factors that may cause the Company's actual performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.

    CONTACT:    Media                            Investor Relations
                Karen Pineman                    Carl Hymans
                G.S. Schwartz & Co.              G.S. Schwartz & Co.
                212.725.4500                     212.725.4500
                kpineman@schwartz.com            carlh@schwartz.com

'/>"/>
SOURCE Quigley Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Quigley Anti-Viral Compound QR448(a) Successfully Prevents Transmission of Infectious Bronchitis in Chickens
2. Quigley Announces Successful Poultry Study of Chickens With Infectious Bronchitis; Plans to Approach the Poultry Industry for Potential Commercialization
3. The Quigley Corporation Reports Third Quarter Results, Increases Investment in Pharmaceutical R&D for Diabetic Neuropathy
4. CEL-SCI Corporation Releases Letter to Shareholders
5. Chemstar Corporation Offers Comprehensive Deep Cleaning Programs to Combat Salmonella, Listeria, and E. coli in Retail Supermarkets
6. Christie Cookie Recalls Certain Lots of Peanut Butter Cookie Dough Due to Expanded Recall by Peanut Corporation of America
7. AGA Medical Corporation Launches Web-Based Stroke Education and Awareness Program Featuring Professional Football Player Tedy Bruschi
8. MannKind Corporation to Review Positive Results From Final Two Pivotal Phase 3 Clinical Studies in Type 1 and Type 2 Diabetes
9. PDS Biotechnology Corporation Progresses Development of Nanotechnology Cancer Therapies
10. Genaera Corporation Reports Phase 1 Data for Trodusquemine (MSI-1436) at the North American Association for the Study of Obesity Annual Meeting
11. Chemstar Corporation Announces a New Powerful, One-Step Product That Effectively Controls Listeria, Salmonella, E. coli and Fly Larvae in Floor Drains
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/10/2017)... Calif. , Oct. 10, 2017  NDS received FDA 510(k) ... — a medical-grade battery-powered display stand specifically designed for endoscopy environments. ... transform technology into a clinical solution to support the improvement of ... Innovative Design ... Mobile Wireless Solution ...
(Date:10/7/2017)... Texas , Oct. 6, 2017   Provista, ... with more than $100 billion in purchasing power, today ... news and information. The Newsroom is the ... and industry trends, infographics, expert bios, news releases, slideshows ... having access to a wealth of resources at their ...
(Date:10/4/2017)...  South Korean-based healthcare product Development Company I.M. Lab ... Kickstarter. The device will educate the user about ,proper, ... efficiency compared to the dated and pricey CPR training ... of the compression for a more informed CPR training. ... raise $5,000. cprCUBE ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... , ... Lori R. Somekh, founder of the Law Office of Somekh ... law and special needs planning attorneys. “Membership in ElderCounsel helps our office remain up ... network with elder law attorneys nationwide,” said Somekh. , ElderCounsel was ...
(Date:10/13/2017)... ... October 13, 2017 , ... Ellevate Network, the leading ... to advocate for action towards gender equality at their inaugural Summit in New York ... globe, and reached a social audience of over 3 million. To watch the Mobilize ...
(Date:10/13/2017)... , ... October 13, 2017 , ... ... and Agile Software Development, has been awarded a contract by the Center for ... Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies in a ...
(Date:10/12/2017)... ... October 12, 2017 , ... CitiDent and ... apnea using cutting-edge Oventus O2Vent technology. As many as 18 million Americans ... frequent cessation in breathing. Oral appliances can offer significant relief to about 75 ...
(Date:10/12/2017)... ... October 12, 2017 , ... The American College of Medical Informatics (ACMI) ... FACMI, during the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s ... Morris F. Collen, a pioneer in the field of medical informatics, this prestigious award ...
Breaking Medicine News(10 mins):