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:2/9/2016)... "Company") (NASDAQ: UNIS ; ASX: UNS), a developer and ... for the second quarter of fiscal 2016 (three months ended December ... Financial Results for the Second Quarter of Fiscal 2016 ... the second quarter of fiscal 2016 was $4.5 million, compared to ... customers for the second quarter of fiscal 2016 were $17.8 million, ...
(Date:2/9/2016)... 2016  Axovant Sciences Ltd. (NYSE:  AXON), a ... of dementia, today announced further details of three ... functional aspects of Lewy body dementia, a disease ... Two out of the three studies were recently ... later this quarter. In addition, the Company reported ...
(Date:2/9/2016)... Hearing protection devices refer to the barriers that reduce ... ear. Hearing protection devices include earplugs, uniform attenuation earplug, ... users exposed to noise levels of over 80 dB ... inserted in the ear canal to protect the ear. ... sound perception with the help of acoustic filters. Earmuffs ...
Breaking Medicine Technology:
(Date:2/9/2016)... ... February 09, 2016 , ... ... production of its newest mobility device, the StandUp Walker. Made entirely in the ... in the last 50 years. , StandUp Walker’s novel patent-pending design offers 2-in-1 ...
(Date:2/9/2016)... ... February 09, 2016 , ... ... LLC to help enterprises move workloads to the cloud. Cirracore provides a ... their cloud without traversing the Internet. Transformation Solutions (TSL Partners) provides a ...
(Date:2/9/2016)... ... February 09, 2016 , ... BioPlus Specialty Pharmacy (BioPlus), one ... ‘Pay It Forward’ program into 2016. BioPlus partners with several non-profit patient foundations ... , “Since our Pay It Forward program began, we are proud to have ...
(Date:2/9/2016)... ... ... On January 12, 2016 Paul McElwee, a CroppMetcalfe HVAC technician, visited a home ... any heat. Shortly after entering the home, Paul was able to identify the problem ... carbon monoxide into the home, at 2,000 parts per million in the flue. Anything ...
(Date:2/9/2016)... ... February 09, 2016 , ... The Bon-Ton Stores, Inc. ... department stores, announced it has raised $176,000 to benefit the Breast Cancer Research ... Center at the University of Iowa, The Lynn Sage Cancer Research Foundation, and ...
Breaking Medicine News(10 mins):