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In November 2007, BioSante licensed the exclusive, world-wide rights for the use of its patented calcium phosphate nanotechnology (CaP) as a facial filler (BioLook™) in the field of aesthetic medicine to Medical Aesthetics Technology Corporation (MATC). MATC is responsible for continued development of BioLook including required clinical trials, regulatory filings and all manufacturing and marketing associated with the product. In exchange for this license, BioSante has taken an ownership position in MATC and is eligible to receive milestone payments and royalties, and a share of payments if MATC sublicenses the technology. MATC is a privately held and engaged in the research and development of novel products in the field of aesthetic medicine. MATC has assembled a team of accomplished professionals out of Harvard and MIT with expertise in aesthetic medicine as well as technology development.
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In June 2007, BioSante and Teva Pharmaceuticals USA, Inc. agreed to amend a December 2002 license and development agreement, thereby reinitiating their development of a male testosterone therapy product, Bio-T-Gel™ for the U.S. market. Teva is responsible for the continued development of Bio-T-Gel, including required clinical trials, regulatory filings and all manufacturing and marketing associated with the product. In addition to receiving $1.5 million upfront, BioSante is eligible for certain milestone payments, along with royalties if and when the product is commercialized.
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In May 2007, BioSante signed an exclusive agreement with Pantarhei Bioscience B.V. for the development and marketing of an oral contraceptive, The Pill-Plus™ in the United States. BioSante will co-fund the early development of The Pill-Plus, up to $1.0 million while Pantarhei will be responsible for all other expenses to develop and market the product. In addition to receiving $1.0 million upfront, BioSante will be eligible to receive certain development and regulatory milestone payments, along with royalty payments on the sales of The Pill-Plus in the U.S. Further, if the product is sublicensed by Pantarhei to another company, BioSante will receive a percentage of any and all payments received by Pantarhei from a third party.
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In November 2006, BioSante signed an exclusive agreement with Bradley Pharmaceuticals for the marketing of Elestrin™, (estradiol gel), in the United States. Bradley, through its Kenwood Therapeutics division, markets Elestrin and targets estrogen prescribing physicians who treat women who suffer from menopausal symptoms. To date, BioSante has received payments totaling $14 million and is eligible to receive milestone payments that could bring the total to more than $54 million, in addition to royalties. Also see www.elestrin.com
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