[By NBC-1TV H. J Yook]Apricus Biosciences, Inc. (Nasdaq:APRI) and Takeda Pharmaceuticals International GmbH jointly announced today that they have entered into an exclusive license agreement to market Vitaros®, a treatment for erectile dysfunction, in the UK.

Under the terms of the agreement, Takeda will pay NexMed (U.S.A.), a wholly owned subsidiary of Apricus Biosciences, an undisclosed upfront payment, and milestone payments of up to €35 million. According to IMS Health, the erectile dysfunction market in the United Kingdom was worth approximately €202 million in 2011.

Dr. Bassam Damaj, President and Chief Executive Officer of Apricus Bio commented, “We look forward to expanding the reach of our Vitaros® product for erectile dysfunction in the UK, the second largest ED market in Europe. Takeda is a research-based global pharmaceutical company and a well-known and trusted name in the industry. This partnership further demonstrates our commitment to our commercialization strategy to make Vitaros® available to patients worldwide.”

“This is a great opportunity for Takeda UK,” said Yasuhiro Fukutomi, Managing Director, Takeda UK. “Takeda is committed to providing novel and innovative treatments that make a real difference to patients' lives. Vitaros® is an innovative new product that offers the potential to provide men with a new first line or alternative treatment option. Vitaros® has been shown in clinical trials to provide rapid, on-demand efficacy together with convenient local administration that is well tolerated.1,2 Takeda UK envisages that Vitaros® will be a significant addition to our urology franchise.”