ACRUX signs historic deal with Eli Lily

Cogentum client Acrux today announced one of the biggest licensing deals in Australian Biotech history. The deal with Eli Lilly ranks up there as one of the biggest outcomes for an Australian biotech. From the announcements you will see that this is a superb result for any Australian company seeking to license it’s technology. Cogentum worked closely with Acrux through the Axiron development stage to validate the US markets acceptance and adoption of the Axiron product by US based physicians and patients. Ensuring that the company has sound and objective evidence to support their proposition that Axiron was an attractive and compelling product formed a critical part of building the case to investors, regulators and of course potential licensees. As Acrux CEO Dr Richard Treagus commented previously, "Your results have elevated our negotiating position exponentially." Cogentum would like to congratulate the entire Acrux team, lead by Dr Richard Tregaus on the seamless execution of a breakthrough strategy that sets a new benchmark for Australian biotech. Cogentum Director Michael Johnson commented: “Acrux shows a clear way forward for Australian Biotech companies seeking to commercialise their technology. A rational market orientated approach to validating market need and creating strong alignment between this need and clinical and business development activities delivers results to investors. It is a sensational achievement. We are thrilled for both the Acrux team and their investors as this is just reward for their focus and diligence in executing the strategy.”