Seelos Therapeutics Inc (SEEL)

[DavenCT]

From the Recordati half-year report:

COMPANY DEVELOPMENT NEWS
In February an exclusive license agreement was entered into with Apricus Biosciences Inc., a pharmaceutical
company based in San Diego, U.S.A., for the marketing and sales of Vitaros® (alprostadil), an innovative topical
product for the treatment of erectile dysfunction, in certain W. European countries including, among others,
Spain, EU member countries in Central and Eastern Europe, Russia, Ukraine and the Commonwealth of
Independent States (C.I.S.), Turkey and certain African countries. Vitaros® is approved for the treatment of erectile
dysfunction by a number of European health authorities and by Health Canada. Vitaros® is a topically-applied
cream formulation of alprostadil, a vasodilator, which directly increases blood flow to the penis, causing an
erection. Alprostadil is an alternative to the PDE-5 inhibitors for difficult to treat patients and Vitaros® offers a
patient-friendly form versus other alprostadil dosage forms.

At 30 June 2014 the net financial position shows a net debt of € 211.0 million compared to net debt of € 261.0
million at 31 December 2013. During the period a residual amount of € 2.7 million was paid for the acquisition of
the Spanish company Casen Fleet, € 1.8 million were paid up-front to Apricus for the Vitaros® license agreement,
an initial payment of € 4.3 million was made for the acquisition of a further 23% of the share capital of Opalia
Pharma S.A. and dividends were distributed for a total of € 22.3 million.

And here's the link:
http://www.recordati.com/~/media/Files/R/Recordati-V2/investors/reports/2014/2014-07-29ir.pdf