Salt Lake City, Utah, April 19, 2010 ? Lipocine Inc. (www.lipocine.com)
announced today the receipt of a $2 million development milestone payment from
Abbott under the terms of its Licensing Agreement to develop and commercialize
an oral testosterone product for hypogonadism, also known as low testosterone (low T).
Lipocine licensed a patented investigational oral testosterone product to Solvay
Pharmaceuticals (now part of Abbott, the global health care company) in May 2009.
Under the terms of the Agreement, Abbott is to make milestone payments and pay
royalties to Lipocine based upon product sales. Abbott is responsible for all
development expenses associated with this program, which is currently in Phase I development.
“We are pleased with the progress of the joint development program and look forward to a productive
relationship with Abbott. An oral product has the potential to be the next major innovation in
the management of low testosterone,?said Dr. Mahesh Patel, President and CEO, Lipocine Inc. “Through
improved patient compliance an oral testosterone product is expected to significantly expand options
for doctors and patients in management of low testosterone.?
It is estimated that hypogonadism, also known as low testosterone, affects more than 13 million men in
the United States age 45 and older. Because signs and symptoms of low testosterone are subtle and often
overlap with other common medical conditions, low testosterone is frequently undiagnosed.
As evidenced by the substantial recent expansion of testosterone market nearing $1B in the US there is
an increased awareness of hypogonadism. Signs and symptoms of low testosterone may include low sex drive,
erectile dysfunction, fatigue, depressed mood, reduced muscle mass and strength, increased fat body mass
and decreased bone mineral density.
About Lipocine Inc.
Lipocine Inc. is a pharmaceutical company leveraging its proprietary drug delivery technologies to
commercialize pharmaceutical products. Lipocine improves established drugs to enable products with patient
friendly attributes. Lipocine is currently focused on developing innovative oral versions of several hormones
for use in men and women’s health. Lipocine is also developing several respiratory products for out-licensing.
For more information, visit www.lipocine.com.
CONTACTS:
Jerry Simmons
Corporate and Business Development Officer
Lipocine Inc.
(801) 994-7383 x2110
gts@lipocine.com
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