Plethora is an emerging specialty pharmaceutical company focused on the development and marketing of products for the diagnosis, treatment and management of urological disorders. Senetek is a healthcare technologies company targeting the creation of products for the anti-aging market worldwide.
Under the terms of the license agreement, Plethora assumes full responsibility for the drug regulatory process and for establishing the therapy in the key North America market, which represents some 40% of global sales of erectile dysfunction treatments. Plethora is also granted options on additional non-North American markets outside of the European Community.
Senetek will receive royalties on sales of the drug and predetermined milestone payments upon achievement of regulatory approvals and cumulative net sales targets.