Acrux gains FDA approval

As you may be aware Cogentum's client Acrux (ASX:ACR) yesterday announced that the FDA has approved its Axiron product for marketing in the US.

This announcement is a watershed moment for the Australian Biotech sector and marks a significant milestone in one of the biggest licensing deals in Australian Biotech history. From the announcements you will see that this is a truly superb result!

Cogentum worked closely with Acrux to mitigate the market risk involved in bringing Axiron to market. Cogentum's work allowed Acrux to indentify the unmet needs in the market, develop a prioritised list of opportunities for value delivery, undertake a competitive assessment of the existing solutions and develop a strategy for positioning the product in the market that would drive the acceptance and adoption of Axiron with US based Physicians and Patients.

Ensuring that the company had US based objective evidence to support the proposition that Axiron was a highly attractive opportunity played a critical part in building a compelling business case for investors, regulators and of course, Eli Lily & Company. As Acrux CEO Dr Richard Treagus commented previously about the work undertaken by Cogentum, "Your results have elevated our negotiating position exponentially." We are thrilled to see the very real evidence of this now being reflected in the returns that Acrux and its shareholders are enjoying!

Acrux has proven that a market orientated and evidence led commercialisation strategy delivers results. Cogentum would like to congratulate the entire Acrux team, led by Dr Richard Treagus on an outstanding result!