Friday, December 16, 2005
Collagenex to buy SansRosa
Collagenex to acquire SansRosa. Congrats to the SansRosa guys.
Collagenex is buying a 51% stake initially for $750k cash with a further $4m to $6m for the purchase of the remaining shares if a successful product is developed and approved for sale.
Interesting. Collagenex are the company behind oracea as well as working on their own topical dermatological products and delivery systems.
"Shareholders could get up to an additional $4 million to $6 million if all milestones are met and a patented product is developed and approved for sale, Collagenex said."
This was an obvious route for SansRosa. They were always unlikely to carry on on their own; better to hook in with an established company with better financing, resources and knowledge of the approval process and the rosacea market. Collagenex will be doing all the product and clinical development from now onwards.
I think this is good news for rosaceans. The product is now much more likely to get to market - there is a lot of money riding on this happening and collagenex are serious about making this happen.
We have discussed SansRosa many times since we initially broke the news about this product:
A transcript of an interview with the SansRosa founder
Windover report on SansRosa
When will it be available?
Oracea, a derivative of PerioStat that Collagenex has been working on and is almost finished in the FDA approval process (phase III), is only going to start being marketed in 2006 Q3 (i.e. just less than one year from now). Educated guess but based on this, I wouldn't expect to see any sign of SansRosa until 2008 or later.
"CollaGenex said that pending regulatory approval, it hopes to start marketing Oracea in the 2006 third quarter."
MORE
Press release on Collagenex and SansRosa hookup here
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=CGPI&script=410&layout=-6&item_id=796181
Quote:
"Payment for shares of SansRosa will be made in installments tied to the achievement of various product development milestones. CollaGenex will be solely responsible for product and clinical development. "
...
"The acquisition of this technology is another important step in executing our strategy to become a leader in providing innovative products to the dermatology market," said Colin Stewart, president and chief executive officer of CollaGenex. "SansRosa is an excellent fit for CollaGenex. There are currently no effective treatments for the redness associated with rosacea and certain other dermatological conditions. If successfully developed and approved, a topical product based on SansRosa's technology would complement our existing pipeline, including Oracea(TM), which is currently under review by the FDA."
Dr. Klaus Theobald, Chief Medical Officer of CollaGenex, commented: "SansRosa's proposed technology offers an elegant approach that, if successfully developed, would address a largely unmet medical need."
"We are extremely pleased that CollaGenex will develop this exciting technology," said Jack DeJovin, Founder of SansRosa"
Collagenex is buying a 51% stake initially for $750k cash with a further $4m to $6m for the purchase of the remaining shares if a successful product is developed and approved for sale.
Interesting. Collagenex are the company behind oracea as well as working on their own topical dermatological products and delivery systems.
"Shareholders could get up to an additional $4 million to $6 million if all milestones are met and a patented product is developed and approved for sale, Collagenex said."
This was an obvious route for SansRosa. They were always unlikely to carry on on their own; better to hook in with an established company with better financing, resources and knowledge of the approval process and the rosacea market. Collagenex will be doing all the product and clinical development from now onwards.
I think this is good news for rosaceans. The product is now much more likely to get to market - there is a lot of money riding on this happening and collagenex are serious about making this happen.
We have discussed SansRosa many times since we initially broke the news about this product:
A transcript of an interview with the SansRosa founder
Windover report on SansRosa
When will it be available?
Oracea, a derivative of PerioStat that Collagenex has been working on and is almost finished in the FDA approval process (phase III), is only going to start being marketed in 2006 Q3 (i.e. just less than one year from now). Educated guess but based on this, I wouldn't expect to see any sign of SansRosa until 2008 or later.
"CollaGenex said that pending regulatory approval, it hopes to start marketing Oracea in the 2006 third quarter."
MORE
Press release on Collagenex and SansRosa hookup here
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=CGPI&script=410&layout=-6&item_id=796181
Quote:
"Payment for shares of SansRosa will be made in installments tied to the achievement of various product development milestones. CollaGenex will be solely responsible for product and clinical development. "
...
"The acquisition of this technology is another important step in executing our strategy to become a leader in providing innovative products to the dermatology market," said Colin Stewart, president and chief executive officer of CollaGenex. "SansRosa is an excellent fit for CollaGenex. There are currently no effective treatments for the redness associated with rosacea and certain other dermatological conditions. If successfully developed and approved, a topical product based on SansRosa's technology would complement our existing pipeline, including Oracea(TM), which is currently under review by the FDA."
Dr. Klaus Theobald, Chief Medical Officer of CollaGenex, commented: "SansRosa's proposed technology offers an elegant approach that, if successfully developed, would address a largely unmet medical need."
"We are extremely pleased that CollaGenex will develop this exciting technology," said Jack DeJovin, Founder of SansRosa"
