Aspargo Laboratories, a New Jersey-based pharmaceutical company, announced Tuesday that it has teamed up with Spanish pharmaceutical company Farmalider to acquire the international patent rights to Sildenafil Oral Spray for five million common shares.
Sildenafil Oral Spray is an oral liquid suspension of a prescription drug called sildenafil citrate, which is administered via a spray pump that dispenses the drug.
In May, Aspargo announced the results of its pre-Investigational New Drug (pre-IND) meeting with the U.S. Food and Drug Administration (FDA), for the treatment of Erectile Dysfunction.
The FDA supported a single dose bioequivalent study comparing Aspargo’s Sildenafil Oral Spray with Viagra pills.
Aspargo Founder and CEO Michael Demurjian said, “The acquisition of global rights to Sildenafil Oral Spray represents a significant opportunity for Aspargo.”
“The erectile dysfunction market is one of the most expansive categories in the healthcare industry, as men continue to seek a more efficient and convenient solution to address their condition,” he added. “Following our recent successful completion of a $7.5 million financing, Aspargo has transformed into a rapidly growing global specialty pharmaceutical company.”
Sildenafil Oral Spray is a new and convenient route of administration for men with erectile dysfunction. The oral suspension of sildenafil citrate has been approved for use in nine European nations in a liquid dosage form and in Spain in the spray dosage form,
Erectile dysfunction, or ED, also known as impotence, is one of the most common types of male sexual dysfunctions characterized by the inability to achieve and sustain an erection hard enough to have sexual intercourse.
Some of the common causes of ED include heart disease, atherosclerosis, high cholesterol, hypertension, obesity, diabetes, Parkinson’s disease, Multiple Sclerosis, and bad effects of certain medications. Psychological conditions that are responsible for causing ED are stress, anxiety, or depression.
Aspargo has been focused on developing an oral spray formulation of sildenafil citrate. It is the US and international licensee of the patent rights covering Sildenafil Oral Spray from Farmalider. The company’s leadership team has a proven background, with a record of accomplishment in successful drug product development, FDA approval, and commercialization.
