Innovus Pharmaceuticals scored a portfolio of nine U.S. prescription products in the areas of dermatology, respiratory, and autoimmune diseases from Prospector Capital Partners II. The products are Zytopic, for atopic dermatitis; Coraz, for seborrhoeic dermatitis; Xylarid, for hemorrhoids; Zinx, for cough and cold; Extendryl, for congestion; Liquadd, for attention deficit disorder; Akurza, for psoriasis; Breeze pads, for acne; and Levall, for cough.
These nine products are currently not being marketed. Innovus is planning to set up the manufacturing capacities and reimbursement procedures needed to get the products on the market. The first product launch is projected to be in 2014.
"The acquisition of this portfolio of products is an important step toward building the global commercial pipeline of Innovus Pharma," Bassam Damaj, Ph.D., CEO of Innovus Pharma, said. "But it is only the first step of our growth strategy, which focuses on launching a range of products in many countries with a number of partners. We expect both to acquire more products and to work with our partners to get the products into as many markets as possible."
San Diego-based Innovus was formed in December of 2011, the result of a merger between FasTrack Pharmaceuticals and North Horizon. The company aims to build a pipeline with a range of products including arthritis pain relief product, Apeaz™, as well as product candidates across each phase of development such as its VAP-1 program for psoriasis and dermatitis.