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NEXMED CONFIRMS ACCEPTANCE OF NDS IN CANADA
East Windsor, NJ, March 5, 2008 -- NexMed, Inc. (Nasdaq: NEXM), a developer of innovative transdermal products based on its proprietary NexACT® drug delivery technology, today announced that Health Canada has accepted the New Drug Submission (NDS) for its topical erectile dysfunction (ED) treatment for review. Health Canada’s target is to complete review within three hundred (300) days for ninety percent (90%) of submissions.
Commenting on today’s news, Vivian Liu, President and Chief Executive Officer of NexMed, stated, “We are very pleased to reach another regulatory milestone. The acceptance of the NDS for review is a positive development for the discussions with potential commercialization partners in Canada.”
About NexMed
NexMed, Inc. is leveraging its proprietary NexACT drug delivery technology to develop innovative topical pharmaceutical products that address unmet medical needs. NM100060, a novel onychomycosis treatment exclusively licensed to Novartis, is currently in pivotal Phase 3 trials in the U.S. and Europe. In November 2007, NexMed’s New Drug Application for its alprostadil treatment for erectile dysfunction was accepted for review by the FDA and the Company signed a U.S. licensing agreement for the product with Warner Chilcott. NexMed's pipeline also includes a Phase 2 treatment for female sexual arousal disorder and an early stage treatment for psoriasis. For further information about NexMed, go to www.nexmed.com.
Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described, including, but not limited to, obtaining regulatory approval for its products under development, entering into partnering agreements, pursuing growth opportunities, and/or other factors, some of which are outside the control of the Company. # # #
Company Contact:
Mark Westgate, CFO
NexMed, Inc.
(609) 371-8123, ext: 159
mwestgate@nexmed.com
Investor Relations:
Paula Schwartz
Rx Communications Group, LLC
(917) 322-2216
pschwartz@rxir.com
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