Bentley Looks To Break Into U.S. Market With New Patent Portfolio

Bentley Pharmaceuticals Inc., a manufacturer of pharmaceutical products in Spain, has acquired from a private investor, the U.S. and international patents and related technology covering methods to enhance the absorption of drugs delivered to biological tissues by oral, dermal, ocular and other routes of administration. The Company will develop the penetration enhancement technology, which was acquired for a combination of common stock, warrants and cash, to enter the U.S. market for the first time.

"The acquired technology includes a series of compounds which enhance penetration and absorption of drugs via mucosal membranes, skin, oral, ocular, vaginal and rectal routes," explained James R. Murphy, president, CEO and chairman of Bentley. "We are particularly encouraged that one of our lead compounds is a GRAS (Generally Recognized As Safe) substance which will facilitate rapid and less expensive product development."

Assets acquired in the transaction include an FDA Drug Master File as well as patents issued in the U. S. and other major international markets. The patents cover a group of related chemicals that act as penetration enhancers to increase the absorption of drugs delivered through multiple routes of administration. All products will require NDA submission and FDA approval.

In addition to a cash payment of approximately $1.1 million, the Company issued 585,000 shares of common stock and ten-year warrants to purchase 450,000 shares of common stock for $1.625 per share for total consideration of approximately $2.25 million for these technologies. In addition, terms of the transaction call for certain royalty payments upon commercialization of products.

For more information: Michael D. Price, Bentley Pharmaceuticals Inc., telephone: 813-281-0961.