SAN FRANCISCO-Urigen Pharmaceuticals, Inc. (OTC BB: URGP), a specialty pharmaceutical company focused on the development of treatments for urological disorders and pain, announced today that it is pursuing strategic alternatives to maximize the value from its two proprietary platform technologies. The Company is currently in discussions with various pharmaceutical companies to license or engage in a joint venture for its two lead platforms, URG 101 and URG 301. URG101 is a proprietary combination of approved drugs that is instilled into the bladder, targeting painful bladder syndrome, which affects approximately 10.5 million men and women in North America. URG301 is the Company’s proprietary dosage form of an approved drug that is locally delivered to control urinary urgency, targets acute urgency in females diagnosed with an overactive bladder, another major un-met need that is insufficiently managed by presently available overactive bladder drugs. The Company is also considering mergers, acquisitions or investments from strategic partners.
“We are seeing interest from leading pharmaceutical companies that would like to partner with the Company to capitalize on our technology platform to meet a large un-met medical need,” said Urigen CFO Martin Shmagin. “Painful bladder syndrome, urethritis and overactive bladder effect the quality of life of millions of Americans, and we feel that our technology offers hope to many of these people. We look forward to securing a partner to help bring this technology to market. We believe that the Company is highly undervalued. Given the current state of the capital markets, we are also considering combinations with other companies and partners who could provide capital or developmental expertise. ”
Forward-Looking Statement
This press release may contain forward-looking statements. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. Urigen has based these forward-looking statements on current expectations, assumptions, estimates and projections. While Urigen believes that these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. Given these risks and uncertainties, investors and security holders are cautioned not to place undue reliance on such forward-looking statements. Urigen does not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments.
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