Photocure establishes US subsidiary to build speciality dermatology business

06-Aug-2010 - USA

PhotoCure announced the establishment of its US subsidiary, Photocure Inc, and the appointment of Terry Conrad as President to build its specialty dermatology business in the US.

Terry Conrad has over 23 years experience in the pharmaceutical industry and has held senior marketing, sales and business development positions at a number of multinational pharmaceutical companies including Lederle Laboratories, Bayer AG and Parke-Davis (a division of Warner Lambert now owned by Pfizer). He was most recently President and CEO of Merz Pharmaceuticals GmbH-US division. During his time at Merz, Terry was responsible for managing US commercial operations and building the dermatology franchise while also preparing for two new business units.

The establishment of Photocure Inc follows the Company's strategic decision in November 2009 to build its own specialty dermatology business in the US. Photocure is using its proven photodynamic technology (PDT) and expertise to develop innovative dermatology products. PDT is a well established procedure in the dermatology field, and Photocure has been a leader in developing effective PDT products to serve that market.

Photocure is developing Allumera(TM), a novel PDT-based solution for improving the appearance of skin. Allumera is currently undergoing a pilot consumer trial in the US. Results from this consumer trial are expected in the fourth quarter 2010. Based on results from previous clinical trials, the company believes Allumera(TM) will be well accepted by the dermatology community. Photocure is planning to launch Allumera in 2011.

Also, Photocure is developing Visonac(TM), an exciting new option for treating moderate to severe acne. Visonac is currently in Phase II development.

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