Palette Life Sciences and Nestl? Skin Health Enter into Global Licensing Agreement for Deflux, Solesta and Barrigel
Transaction creates a fully-integrated specialty pharmaceutical company focused on improving patient outcomes for urology & urogynecology disorders, colorectal conditions, radiot
herapy and interventional oncology procedures
STOCKHOLM,? Palette Life Sciences AB (formerly known as Pharmanest AB*) has entered into definitive agreements with Nestl? Skin Health to license worldwide commercialization and development rights for Deflux?, Solesta? and Barrigel?. Palette is currently developing Lidbree? for pain relief for gynecological applications.
Key highlights for the Nestl? Skin Health transaction include:
Palette Life Sciences is focused on providing a wide range of products and services that improve the quality of life for patients. Led by experienced healthcare executives, the initial company strategy is to transform applications of existing technologies to bring forward novel solutions for underserved conditions. Palette Life Sciences is headquartered in Stockholm, Sweden, with offices in Santa Barbara, California and Dallas, Texas. Learn more at www.palettelifesciences.com and www.pharmanest.se. Deflux?, Solesta?, Barrigel?, Restylane? and NASHA? are trademarks owned by Nestl? Skin Health. Lidbree? is a trademark owned by Palette Life Sciences AB. Palette Life Sciences Media Inquiries:
Shannon Severino
shannon@pascalecommunications.com
412-608-2393 Investment Inquiries:
Mattias Klintemar, Investment Director, The Baltic Sea Foundation
mattias.klintemar@ostersjostiftelsen.se
+46 (0) 70 932 64 67 SOURCE Palette Life Sciences
- Exclusive rights to fully develop and commercialize the three products:
- Deflux ? the only FDA-approved injectable treatment of vesicoureteral reflux (VUR), a malformation of the urinary bladder that affects 1% of children worldwide. VUR can cause severe infections of the urinary tract and lead to irreversible kidney damage.
- Solesta ? the only FDA-approved injectable treatment for fecal incontinence, which is also cleared for commercialization in Europe. Fecal incontinence is a debilitating health problem afflicting about 2% of people worldwide with four times more prevalence in women than men.
- Barrigel ? a biodegradable injectable treatment for protection of the rectal wall when treating prostate cancer with radiation. The product is approved in Europe and will be further developed for future market introduction in the US.
- Palette Life Sciences will focus immediately on commercialization activities for Deflux and Solesta, and will begin activities to enable worldwide commercialization of Barrigel.
- The license can enable future new products intended for management of urological and gastroenterological conditions, and protection of adjacent healthy organs and tissue during radiation therapy for cancer.
- The products are all based on the Nestl? Skin Health's well-known and widely utilized NASHA? technology. Millions of patients have been treated with NASHA based products for various medical conditions world-wide. The most well-known NASHA product marketed by Nestl? Skin Health is Restylane?, a leading dermal filler.
- Nestl? Skin Health will continue to manufacture the licensed products on behalf of Palette Life Sciences.
- As part of the transaction, Pharmanest AB will be renamed Palette Life Sciences AB with offices in Sweden and the US.
Palette Life Sciences is focused on providing a wide range of products and services that improve the quality of life for patients. Led by experienced healthcare executives, the initial company strategy is to transform applications of existing technologies to bring forward novel solutions for underserved conditions. Palette Life Sciences is headquartered in Stockholm, Sweden, with offices in Santa Barbara, California and Dallas, Texas. Learn more at www.palettelifesciences.com and www.pharmanest.se. Deflux?, Solesta?, Barrigel?, Restylane? and NASHA? are trademarks owned by Nestl? Skin Health. Lidbree? is a trademark owned by Palette Life Sciences AB. Palette Life Sciences Media Inquiries:
Shannon Severino
shannon@pascalecommunications.com
412-608-2393 Investment Inquiries:
Mattias Klintemar, Investment Director, The Baltic Sea Foundation
mattias.klintemar@ostersjostiftelsen.se
+46 (0) 70 932 64 67 SOURCE Palette Life Sciences