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CONTACT: Steven Powell of Plethora Solutions, +44(0) 20 3077 5400; or Dave Talen of Timm Medical Technologies, Inc.
Alongside this transaction, Plethora has amended and expanded the existing convertible debt facility with ETV Capital S.
In May 2007, Plethora signed an exclusive license agreement with Sciele to market PSD502 for premature ejaculation in the USA, which was amended in February 2009 subject to a satisfactory outcome of an FDA meeting scheduled for March 2009.
Under terms of the license agreement with Senetek, Plethora maintains full financial responsibility for the drug regulatory process for Invicorp(R) in North America and for establishing this breakthrough therapy in the North American market.
In February 2007, Plethora announced its intention to initiate the Phase III trial for Invicorp(R) and recent meetings with the FDA have confirmed the path to submission of the NDA for Invicorp(R) as a front-line therapy for erectile dysfunction (ED):
Chief Medical Officer of Sciele Pharma, said, "We are pleased with the progress Plethora has made with the development of PSD502, which addresses an unmet medical need that affects a significant number of adult males in all age groups.
Sciele") (NASDAQ:SCRX), a specialty pharmaceutical company, and Plethora Solutions Holdings PLC ("Plethora") (AIM:PLE), the specialist developer of products for the treatment and management of urological disorders, today jointly announced that they have initiated patient enrollment for the Phase III clinical trials in the U.
Plethora Solutions Assumes Full Regulatory Responsibility and Receives Option on Additional Territories; Senetek to Receive Royalties and Milestone Payments