MONTREAL, November 26, 2013 /PRNewswire/ --
KLOX Technologies Inc. ("KLOX") is pleased to announce an exclusive supply, distribution and licensing agreement with Sandoz Canada for KLOX's innovative and proprietary LumiCleanse™ System (also known as Lumigel Cleanse) for the treatment of acne vulgaris, and for its skin rejuvenation LumiBel™ System (also known as Fast & Mild Beauty System) in Canada.
Under the terms of the agreement, Sandoz Canada will be responsible for all commercial activities for the acne vulgaris LumiCleanse™ System and the skin rejuvenation LumiBel™ System in the Canadian market. KLOX will be responsible for the supply of both products to Sandoz Canada. The financial terms of the agreement include upfront and other milestone payments, as well as a profit share structure based on product sales.
"KLOX became aware of the new focus on the dermatology market for Sandoz International following their recent acquisition of Fougera. KLOX is pleased to work with Sandoz Canada, a well-established company in the pharmaceutical sector with the expertise and network required to bring our innovative products to patients and clients across the country. Still today the need for new, safe and efficacious products is large. Sandoz Canada is committed to building a strong, branded dermatology franchise and we are proud that our suite of innovative and effective dermatology products will serve as a flagship for this franchise in Canada," said Dr. Lise Hébert, President and Chief Executive Officer of KLOX.
Today's announcement of the licensing agreement for the acne and skin rejuvenation products follows two important approvals of KLOX's acne vulgaris products: first the CE marking this month in Europe of the company's LumiCleanse™ topical photo-converter gel as a Class IIa Medical Device and the approval of KLOX's acne vulgaris system by Health Canada in September of this year. With last week's announcement of the European CE mark approval, KLOX plans on concluding additional agreements to secure the global reach of its innovative and proprietary products to the rest of the world. Statistics show that acne vulgaris affects over 5 million people in Canada, and approximately 150 million people worldwide. It accounts for over 30% of dermatology visits and over 40% of those suffering from this disease are looking for treatments with a better safety and efficacy profile than what is currently available. In Canada alone, approximately 1.1 million skin rejuvenation procedures were conducted in 2012.
About the innovative and non-invasive LumiCleanse™ and LumiBel™ products
The LumiCleanse™ System for the treatment of acne vulgaris is comprised of a multi LED light, used in conjunction with the LumiCleanse™ photoconverter gel to achieve safe and efficacious results in the treatment of acne vulgaris. This is done by targeting the underlying problems that lead to acne vulgaris as well as stimulating collagen in traumatized skin. The system is designed to promote healing in both the epidermis and deeper in the dermis in a non-invasive manner. Completed within a 15-minute treatment cycle including preparation, the treatment requires applications twice a week for a six-week period. The technology is non-abrasive, non-thermal, and is comfortable for the patient. In a 90 patient pivotal trial, the LumiCleanse™ System demonstrated efficacy in acne patients and was clinically and statistically significant on all primary and secondary endpoints, with an extremely favourable safety profile. The three month extension study demonstrated a similar effectiveness and safety profile for the second treated hemiface and persistence of effect was maintained in 92% of the cohort that had met the primary endpoint with the first treated hemiface, demonstrating a persistence of effect of at least 6 months. The LumCleanse™ System is poised to be a first-in-class treatment for patients suffering from acne vulgaris.
The LumiBel™ System for skin rejuvenation is comprised of the multi-LED light used in conjunction with the LumiBel™ photoconverter gel to efficiently achieve full face conditioning and improvement of wrinkles. In the KLOX clinical trial, patients were treated once a week for four weeks and demonstrated results lasting for many weeks following the last treatment. Each session is completed within a 15-minute treatment cycle.
About KLOX Technologies: Leveraging a light-based biophotonic platform
KLOX is focused on the development and commercialization of a unique, non-invasive biophotonic technology using a primary device consisting of a multiple LED light that interacts with an oxygen-rich gel containing light-trapping molecules. KLOX's cosmetics and medical devices are destined for the rapidly growing cosmetic, dental, dermatological and medical markets.
Forward Looking Statements
Certain statements contained in this presentation, other than statements of fact that are independently verifiable at the date hereof, may constitute forward-looking statements. Examples of such forward looking statements include those regarding cosmetics and medical devices and medical applications and clinical trials and the status and related results thereto, as well those regarding continuing and further development efforts. Such statements, based as they are on the current analysis and expectations of management, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond KLOX Technologies Inc.'s control.
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SOURCE Klox Technologies Inc.