Acrux signs CSL deal, waits to list

Acrux has signed an agreement with CSL for the distribution of Acrux's testosterone MDTS (metered dose transdermal spray) treatment in Australia and New Zealand.

Under terms of the deal, Acrux subsidiary FemPharm will receive an upfront payment, plus royalties on net sales in Australia and New Zealand once the product, which is used to treat low testosterone levels and associated sexual dysfunction in women, is on the market. Financial details were not disclosed.

Acrux CEO Dr Igor Gonda said he was very pleased to have come to an agreement with CSL.

"We couldn't get a better partner in Australia than CSL so we're very pleased with that," he said.

Earlier this year, Acrux secured a US$13 million deal with US company Vivus, giving Vivus the responsibility for completing the development and commercialisation of the testosterone MTDS treatment as well as an estradiol MTDS for hormone replacement therapy.

Australian Phase II clinical trials of the testosterone MTDS are ongoing, and results are expected in early 2005, with a US Phase III trial to be performed by Vivus after that.

Gonda said Vivus would be responsible for filing for approval with the FDA, while CSL will file for approval in Australia and New Zealand. Acrux currently retains rights to other international markets.

The company is also continuing to go forward with its plans to list on the ASX later this year, according to Gonda.

"It's no big secret," he said. "We're ... waiting for the markets to be receptive to an offering from Acrux."