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Apricus Biosciences, Inc. (Nasdaq:APRI) announced a definitive agreement to acquire Topotarget USA, Inc. (”Topotarget USA”), a subsidiary of Topotarget A/S, a public Danish company (”Topotarget A/S”). Topotarget USA owns Totect (Dexrazoxane HCl), the only drug approved by the FDA to treat a potentially serious complication of cancer therapy–the leakage of chemotherapy drugs from veins into surrounding tissues. This complication is known as anthracycline extravasation, and can lead to infections and tissue death.

To acquire Topotarget USA and its drug, Totect, Apricus Bio has agreed to purchase 100% of the outstanding common stock of that company in exchange for Apricus Bio common stock worth approximately $2 million in upfront payments and up to approximately $2 million more in Apricus common stock if certain milestones are achieved. Following the closing of the transaction contemplated by the Agreement, Apricus Bio, through Topotarget USA, will own all rights to Totect in the U.S. in North America and South America and the respective territories and possessions of the countries in North America and South America.



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