(MENAFN- ProactiveInvestors - N.America) Edesa Biotech has licensed the rights to dermatology company Cipher Pharmaceuticals Inc''s (NASDAQ:CPHR; TSE:CPH) ASF-1096 for use in disorders relating to the anus and rectum
ASF-1096 is a phase II product candidate that Cipher is investigating as a treatment for selected inflammatory skin disorders. Cipher acquired the global rights to the product in February 2015, and under the terms of this agreement with Edesa, Cipher will retain all rights to ASF-1096 for dermatological conditions.
"Given its novel anti-inflammatory properties, we believe ASF-1096 has promise as a compound to treat a range of anorectal disorders, and we''re pleased to partner with Edesa to move the clinical development forward for these indications while we remain focused on dermatology," said Shawn O''Brien, president & chief executive officer of Cipher.
"We will continue to pursue opportunities to monetise our commercial products and product candidates in regions and indications that are not on our strategic road map," he added.
Cipher shares were up 0.4% at C$7.10 in early deals in Toronto.
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