Aqua Pharmaceuticals Acquires Verdeso Foam

West Chester-based Aqua Pharmaceuticals has acquired the U.S. rights to and re-launch of Verdeso® Foam from Stiefel, a GSK company. Aqua Pharmaceuticals is a portfolio company of RoundTable Healthcare Partners, an operations-oriented private equity firm.

PRESS RELEASE

West Chester-based Aqua Pharmaceuticals today announces the acquisition of U.S. rights to, and re-launch of, Verdeso® (desonide) Foam, 0.05% from Stiefel, a GSK company (“GSK”). Verdeso® Foam is the only low-potency corticosteroid foam indicated for the topical treatment of mild to moderate atopic dermatitis in patients 3 months of age and older. The emollient-based and ethanol-free Verdeso® Foam is unavailable in generic form. Aqua will assume control of all manufacturing and distribution, as well as promotion of the product through its own national dermatology-specialty sales force.

“I would also like to acknowledge the important role RoundTable Healthcare Partners played in this acquisition. Their transaction expertise and relationship with GSK were key elements in completing this deal”
“Verdeso® is the perfect complement to our already robust dermatology line,” said Craig Ballaron, Chief Executive Officer of Aqua. “Our portfolio has products formulated in a variety of vehicles: Monodox® Capsules, Xolegel® Gel, Fluoroplex® Topical Cream and Cordran® Cream and Lotion. We were missing a foam formulation in our product offering, and we believe Verdeso® Foam will give physicians more prescribing options.”

“I would also like to acknowledge the important role RoundTable Healthcare Partners played in this acquisition. Their transaction expertise and relationship with GSK were key elements in completing this deal,” said Ballaron.

Atopic dermatitis is a chronic, inflammatory, pruritic skin disorder that occurs most frequently in children and adolescents, but is also seen in adults. The condition affects an estimated 3 percent of the total U.S. population and often follows a relapsing course. Left untreated, atopic dermatitis can have significant physical, emotional and social effects.

Important Safety Information Regarding Verdeso® (desonide) Foam, 0.05%

Treatment should not exceed 4 consecutive weeks as the safety and efficacy of Verdeso® Foam has not been established beyond 4 weeks of use.
Verdeso® Foam has been shown to produce reversible HPA axis suppression. Systemic effects of topical corticosteroids may also include manifestations of Cushing’s syndrome, hyperglycemia, facial swelling, glycosuria, withdrawal syndrome, and growth retardation in children.
Pediatric patients are at greater risk for HPA-axis suppression and Cushing’s syndrome when treated with topical steroids.
The most common adverse reactions observed in clinical trials were upper respiratory tract infection, cough, application site burning, headache, viral infection, and increased blood pressure. In post-marketing reports, the most common adverse reactions were application site irritation followed by application site erythema.
Do not dispense directly on the face. Avoid contact with the eyes or other mucous membranes.
The propellant in Verdeso® Foam is flammable. Avoid fire, flame, or smoking during and immediately following application.
About Aqua Pharmaceuticals

West Chester, Pennsylvania-based Aqua Pharmaceuticals is a rapidly growing specialty pharmaceuticals company focusing on acquiring, developing and marketing prescription dermatology products. Aqua is a portfolio company of RoundTable Healthcare Partners, an operations-oriented private equity firm.

About RoundTable Healthcare Partners

RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.9 billion in capital, including three equity funds totaling $1.5 billion and two subordinated debt funds totaling $400 million.

Contacts

Aqua Pharmaceuticals
Lisa Wilk, 610-644-7000