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:6/24/2016)... , June 24, 2016 Research and ... Market for Companion Diagnostic Tests" report to their offering. ... for Companion Diagnostics The World Market for ... personalized medicine diagnostics. Market analysis in the report includes the ... Market (In Vitro Diagnostic Kits) by Region (N. America, EU, ...
(Date:6/24/2016)... , Belgium , June 24, ... VNRX), today announced the appointment of Dr. ... Directors as a Non-Executive Director, effective June 23, ... Audit, Compensation and Nominations and Governance Committees.  As ... Futcher will provide independent expertise and strategic counsel ...
(Date:6/23/2016)... June 23, 2016 Research and Markets ... Market - Forecast to 2022" report to their offering. ... method for the patients with kidney failure, it replaces the ... from the patient,s blood and thus the treatment helps to ... chloride in balance. Increasing number of ESRD ...
Breaking Medicine Technology:
(Date:6/26/2016)... (PRWEB) , ... June 27, 2016 , ... Quality metrics ... yet in many ways they remain in the eye of the beholder, according to ... a publication of The American Journal of Managed Care. For the full issue, ...
(Date:6/26/2016)... ... ... legally blind and certified personal trainer is helping to develop a weight loss fitness plan ... fix the two major problems leading the fitness industry today:, , ... They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library ... City Observer , brings up a new, often overlooked aspect of head lice: the parasite’s ... for fumigation is not a common occurrence, but a necessary one in the event that ...
(Date:6/25/2016)... ... June 25, 2016 , ... ... non-athletes recover from injury. Recently, he has implemented orthobiologic procedures as a method ... —Johnson is one of the first doctors to perform the treatment. Orthobiologics are ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may suffer ... unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid ... healthy coping following a traumatic event. , Trauma sufferers tend to feel a range ...
Breaking Medicine News(10 mins):