LONDON (Alliance News) - Plethora Solutions Holdings PLC Tuesday said it has got marketing approval for its premature ejaculation treatment from the European Commission, a key step in its long-lasting efforts to commercialize the treatment.
The pharmaceutical company was founded in 2004 to develop the treatment, known as PSD502 or Prilocaine Lidocaine Plethora. Two years ago, it won back the right to regulatory and commercial development of PSD502 in Europe and other territories from Japanese pharmaceutical company Shionogi & Co. Ltd and in August, it announced an agreement with Shionogi's U.S. arm, Shionogi Inc., to pursue the regulatory approval for PSD502 globally.
It expects to file for marketing approval from the US Food and Drug Administration early in the New Year.
Its hopes rest on the success of the treatment. It currently has no other revenue streams.
Plethora Solutions shares were up 4.1% at 17.30 pence Tuesday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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