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Acrux Limited (ASX:ACR) Positive European opinion for first animal health product

POSITIVE EUROPEAN OPINION FOR ACRUX’S FIRST ANIMAL HEALTH PRODUCT
 
Melbourne, 10 May 2011: Acrux (ASX: ACR) announced today that the Committee for Medicinal Products for Veterinary Use (CVMP) of the European Medicines Agency (EMEA) has adopted a positive opinion recommending the granting of a Marketing Authorisation for the veterinary product Recuvyra™ transdermal solution for dogs in Europe; the first animal health product using Acrux’s drug delivery technology.
 
Recuvyra™, which contains the active ingredient Fentanyl, is for the control of pain associated with orthopaedic and soft tissue surgery in dogs. The product was developed under license by Elanco, the animal health division of Eli Lilly and Company.
 
Upon Marketing Authorisation, Acrux will receive from Lilly a milestone payment of $0.5 million, followed by royalties on sales of the product. Lilly has an exclusive worldwide licence to develop and commercialise animal health products utilising Acrux’s technology to deliver drugs through the skin.
 
“We are delighted that Lilly’s development efforts have been rewarded with this positive opinion for the Marketing Authorisation of Recuvyra™, the first of a range of potential veterinary products utilising the Acrux transdermal technology. It is expected that Marketing Authorisation of Recuvyra™ will follow within the next 90 days”, said Acrux CEO Richard Treagus.
 
“Following the recent launch by Lilly of Axiron® in the United States, this adds further momentum to Acrux’s partnership with Lilly”, he added.
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