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1"
Elis is the license holder of Vitaros for the Middle East
Health"Canada"&"European"Health"Authorities"granted"
marketing"approval"for"Vitaros®"as"a""
FIRST"LINE0THERAPY#FOR#ERECTILE#DYSFUNCTION##
for#entire#patient#population#including#non"PDE5#patients#
Topical Treatment for Erectile Dysfunction
Vitaros Marketed in the following countries
•  By Takeda in the United Kingdom - June 2014
•  By Novartis-S/ Hexal in Germany, Sweden & Belgium in 2014
•  By Majorelle Laboratory in France in 2015
•  By BRACCO in Italy in 2015
4"
Vitaros®#is"the"right"treatment"for"the"ED"
Unmet#Needs#
•  Cold Chain (2°C -8°)
•  7 Days Room Temp
•  Shelf Life 18 Month
health and dermatology. With a strong pipeline,
multiple late-stage product candidates, and operations
in both the US and Europe (France), Apricus Bio
generates revenues and value by developing and out-
licensing its pipeline products and promoting products
in France.
Apricus Biosciences, Inc. • 11975 El Camino Real, Suite 300, San Diego, CA 92130 • 858.222.8041 • www.apricusbio.com
Near-Term Value Drivers
Commence sales of Vitaros® in
Canada by Abbott Labs in the first
half of 2013
European approval decision of
Vitaros® expected in the first half
of 2013
Additional Vitaros® partnerships
for emerging markets
Regulatory and clinical design plan
communicated for Femprox® in
the US, Europe, and Canada in
first half of 2013
Key Assets
Vitaros® (alprostadil 0.3% topical cream) is approved
in Canada for the treatment of erectile dysfunction.
Vitaros® is a topically applied vasodilator that
increases blood flow to the penis, causing an erection
within minutes, much faster than can be achieved
from oral medications. Also unlike oral medications,
Vitaros® can be safely used by erectile dysfunction
patients with hypertension, diabetes, cardiovascular
issues, or patients on alpha blockers or beta blockers.
Erectile dysfunction affects approximately 140 million
men worldwide and represents an estimated $2.6
billion in annual revenue, excluding the US.
Femprox® (alprostadil 0.4% topical cream) is a product
candidate for the treatment of female sexual arousal
disorder (FSAD). Seven clinical studies have been
successfully completed to date, including one, 98-
subject Phase II study in the US and a nearly 400-
subject Phase III study in China. To date, no product
has been approved in the U.S. to treat FSAD, a
persistent or recurring inability to attain or maintain
adequate sexual excitement, causing personal distress.
Estimates of the FSAD market size put it on par with
erectile dysfunction in males, and possibly larger.
1As of 12 Feb 2013
2As of 31 Dec 2012
• Room Temperature
• Expected 24-36 month shelf life
• Key driver of market growth
and expansion
Second Generation
Room Temperature
Available in 2016
5
• "Topical"cream,"high"viscosity"""
• "Prostaglandin"E1,"potent"vasodilator"
• "Rapid"onset"(generally"5E30"minutes)""
• "Significant"efficacy,"including"difficult"to"treat"""""""
populations"
• "Diabetic#patients#
• #Hypertensive#patients#
• #Patients#with#cardiac#issues#
• #Patients#on#nitrates#and#alpha#blockers#
• #Prostatectomy#patients##
• #Sildenafil#(Viagra®)#failures#
•  Side"effects"are"generally"mild,"transient"
and"topically"related"
•  Studied"in"over"3,300"patients"
•  Offers" first" choice/" first" line" option" in"
discussion" of" alternatives" with" ED"
patients"
VITAROS
®##
# Topical#alprostadil/DDAIP##
for#the#Treatment#of#Erectile#Dysfunction##
Strong#IP#Estate:##
Issued" patents" through" 2026" and" patent"
applications" filed" for" extended" protection"
through"2032""
Vitaros is the first approved topical prescription drug for impotence
Award#Winner#
ESSM#2011#
6"
VITAROS
®
"Podium"Presentation"Named"Best#
Clinical# Presentation# Award" 2011" (Male"
Sexual"Disorder)"by"the"Scientific"Committee"
of" the" Congress" for" the" ESSM" European"
Society"of"Sexual"Medicine"Meeting"in"Milan.""
"
Efficacy# and# Safety" of" topical" alprostadil"
Cream" (Vitaros®)" in" hypertensive," diabetic"
and" cardiac" patients" with" male" erectile"
dysfunction"(ED)"
ESSM Career Award-Winner VITAROS®
Jacques Buvant
VITAROS
®##
#
AWARD#WINNER#
Canada#Approval##
VITAROS
®##
#
World’s#Approvals#
European#National#Phase#Approvals#in#
European#Decentralized#
Approval#(10#Countries)#
Sweden
United Kingdom
Aug. 2013
Aug. 2013
Netherlands
Aug. 2013
Aug. 2013
Ireland
Germany
Oct. 2013
Belgium
Jan. 2014
France
Italy
Nov. 2013
Dec. 2013
June 2013
HEALTH CANADA
Nov."2010"
Luxembourg
April 2014
Spain
April 2014
Also approved in August in Austria, Cyprus, the Czech Republic, Denmark, Finland,
Greece, Iceland, Norway, Poland, Portugal, Romania and the Slovak Republic
Apricus"Bio"(NexMed"USA)"
8"
VITAROS
®##
# Leading#Commercial#&##
Development#Partners#
Partnerships throughout the world of Vitaros®
Apricus"Bio"(NexMed"USA's"NexACT"Technology)"9" http://www.jurology.com/article/S0022-5347%2813%2903273-4/fulltext
Apricus"Bio"(NexMed"USA's"NexACT"Technology)"10"
PGE1s#Drugs;#side#effects#comparison##
http://canjurol.com/preview/update/2013/index.html#/32/zoomed
Apricus"Bio"(NexMed"USA's"NexACT"Technology)"11"
UKE - University Medical Center Hamburg-Eppendorf
Professor treated impotent men with sex cream FROM THE TUBE
Just#0.1#grams#of#cream#put#in#the#small#applicator.##
But#are#full#of#potency.##
The#new#ways#Vitaros#for#men.#
Target#Patient#Population#
12"
Vitaros®#is#a#non#PDE#5#treatment##
for#patients#who:#
•  Want"a"faster"acting"and"on"demand"treatment"
"
•  Patients" who" prefer" a" locally" acting" treatment"
instead"of"anEoral"treatment"
"
•  Are" contraindicated" due" to" medications" or"
concurrent"diseases"(18%1)"
"
•  Are" healthy" enough" to" take" the" PDE5" Inhibitors"
but" quit" taking" them" because" they" are" non"
responders"(20%1,3)"and"
"
•  Drop"out"after"initial"prescription"(31%2)"or"drop"
out"after"3"years"from"start"(48%2)"
1.  D2 Market Research, June 2007
2.  Sato Y et al, How long do patients with erectile dysfunction continue to use sildenafil citrate? International Journal of Urology. (2007) 14, 339-342
3. Carvalheira AA, Pereira NM, Maroco J, and Forjaz V. Dropout in the treatment of erectile dysfunction with PDE5: A study on
predictors and a Qualitative analysis of reasons for discontinuation. J Sex Med 2012;9:2361–2369
VITAROS
®##
#
49% of men with ED cannot be treated with PDE5
the world’s first topically applied prescription drug for impotence
49% of ED patients cannot be treated with PDE5
Apricus"Bio"(NexMed"USA's"NexACT"Technology)"13"
Market#Demand#
14"
Several"local"studies"showed"that"the"prevalence"of"ED"was">60%"among"Arab"men."Risk"
factors" and" medical" comorbidities" that" negatively" affect" the" cardiovascular" system,"
endothelial" function" and" ultimately" erectile" function" were" common" in" men" in" Arab"
countries." For" instance," at" least" five" Arab" countries" are" included" in" the" top" 10" countries"
worldwide"with"a"high"prevalence"of"diabetes"mellitus."The"global"statistics"showed"that"
other"risk"factors"such"as"obesity,"smoking,"hypertension"and"dyslipidaemia"are"also"very"
prevalent"in"Arab"countries."This"fact"can"explain"the"high"incidence"of"both"cardiovascular"
disease"and"ED"among"Arab"men."
The"current"Middle"Eastern"ED"market"exceed"10,000,000"unit"sold"per"year"from"the"PDE5"
drugs"including"Viagra,"Levitra,"Cialis,"Snafi"as"well"as"generic"to"serve"the"PDE5"inhibitors"
responders," patients" represent" 51%" of" the" total" ED" patients;" the# unmet# need# counter"
indicated#and#non#responders#to#PDE5#medicines#represent#49%#still#need#to#be#served.##
Middle East
Global#ED#market#estimated#at#$5.5#billion##
IMS Health 2013
33,929,316
29,018,626
24,699,818
21,960,358
9,368,283
7,329,643
4,831,233
3,625,310 3,376,262
2,171,975
1,336,254
-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
Iraq Saudi
Arabia
Yemen Syria UAE Jordan Lebanon Oman Kuwait Qatar Bahrain
15"
Total population in the Concerned Countries
141,647,078 people
Markets#Demographics#
"3,732,225""
"3,192,049""
"2,716,980""
"2,415,639""
"1,030,511""
"806,261""
"531,436""
"398,784"" "371,389""
"238,917"" "146,988""
"E""""
"500,000""
"1,000,000""
"1,500,000""
"2,000,000""
"2,500,000""
"3,000,000""
"3,500,000""
"4,000,000""
"Iraq" "Saudi"
Arabia"
"Yemen" "Syria" UAE" "Jordan" "Lebanon" "Oman" "Kuwait" "Qatar" "Bahrain"
#
Market##Demand#
16" 15,581,179 Men suffering from ED
The prevalence of ED in the world; Men-Age over 40
is 50% and >60% among Arab men
Markets#Demographics#
ED prevalence rate is growing based on demographic trends
1,679,501
1,436,422
1,222,641
1,087,038
463,730
362,817
239,146
179,453 167,125
107,513
66,145
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
Iraq Saudi
Arabia
Yemen Syria UAE Jordan Lebanon Oman Kuwait Qatar Bahrain
17" Over 7 million men are the direct potential clients for Vitaros
"49%"of"the"total"ED"patients"still"need"to"be"
treated;""over"7 million"men"will"benefit"from"
Vitaros"in"Elis"territory"
Markets#Demographics##
ED#Untreated#Market#
Apricus"Bio"(NexMed"USA's"NexACT"Technology)"18"
Considering the following:
•  Vitaros is a new dosage form
•  Vitaros is a topical treatment with high safety profile
•  Vitaros application offers better patient convenience
•  ED market is lacking new innovations
•  ED market is lacking new launch since 10 years
•  Vitaros pricing related to topical ED treatment
products
•  New innovation is the price driver
Core market
POTENTIAL##POSITIONING#
VITAROS
®
""
Provides"Significant"Value"to"Untreated"Population""
!  who"want"onEdemand"fast"action"with"minimal"side"effects"
!  who"don t"want"to"worry"about"food"effect"
!  who"can t"or"prefer"not"to"take"PDE5"Inhibitors"
!  who"don t"respond"satisfactorily"to"PDE5""inhibitors"""
!  who"have"had"a"prostatectomy"
!  who" have" diabetes" and" prefer" an" onEdemand" topical" to" lessen"""""
systemic"exposure"to"a"drug"
19"
Vitaros®"is"an"easily"administered""
Topical#First"line#Treatment#for#all#ED#Patients#
patients"and"has"demonstrated"Efficacy#and#Safety"in"large"clinical"trials.""
VITAROS
®##
#
Ideal 1st Choice Option for Patients
20
Topical#alprostadil/DDAIP##
!  Vitaros®"is"a"topically"delivered"formulation"(cream)"of"alprostadil""
(a" vasodilator)" supplied" in" a" single" dose" dispenser" (AccuDose™)," for" the" treatment" of"
erectile"dysfunction"(ED)."It"is"delivered"with"Dodecyl"2EN,"NE(dimethylamino)Epropionate"
hydrochloride"(DDAIP"HCl),"Apricus'"proprietary"NexACT®"delivery"technology."
!  Vitaros®" is" applied" directly" to" the" penis" and" absorbed" locally," instead" of" being"
administered" orally." This" topical" application" provides" men" who" are" unable" to" take"
existing"oral"medication"with"a"patientEfriendly"alternative."Vitaros®"has"been"studied"
in"over"3,300"patients3"including"difficult"to"treat"populations"(diabetes,"cardiac"issues,"
sildenafil"failures,"prostatectomies,"patients"on"nitrates"and"alpha"blockers).1"Vitaros®"
demonstrates"clinical"efficacy"and"a"favorable"safety"profile"versus"currently"approved"
oral"medication."
Vitaros® Rapid onset (generally 5 30 minutes) #"
VITAROS
®##
#
Alprostadil##
!  Synthetic"form"of"naturally"occurring"PGE1"
!  Released"from"penile"neurons"
!  Mediates"generation"of"cyclic"adenosine""
"""""""""""monophosphate"(cAMP)""
!  Causes"smooth"muscle"relaxation"
!  Allowing"blood"to"enter"the"penis"
Apricus"Bio"(NexMed"USA)"
21"
VITAROS
®##
#
"Mechanism"of"Action"
NexACT®#
!  Patented"NCE"patents"based"on"proprietary"permeation"enhancers"that"are"biodegradable,"
biocompatible,"safe"excipients"
!  Effective""Enables"rapid"absorption"of"high"concentrations"of"drug"directly"to"target"site"or"systemically"
into"blood"stream"
!  Safe"Excellent"preEclinical"and"clinical"safety"dossiers"through"thousands"of"patient"exposures"
!  Versatile"""Effective"with"wide"range"of"drugs"classes"and"different"routes""
•  Small"molecules,"peptides,"proteins,"SiRNA,"antiEsense,"and"antibodies"
•  Transdermal,"Oral,"SubEQ,"Buccal,"Rectal,"Nasal,"Ophthalmic"
Apricus"Bio"(NexMed"USA)"
22"
VITAROS
®##
#
Chemical"structure"of"DDAIP"HCl"(Dodecyl"2E(N,"N"dimethylamino)Epropionate)"
Multi"Route#Drug#
Delivery#Technology"
"
The"NexACT"multiEroute"drug"delivery"platform"consists"of"more"than"100"different"skin"permeation"enhancer"
molecules"that"could"be"used"in"drug"formulation"to"increase"permeation"and"achieve"higher"bioavailability."
NexACT" is" a" multiEroute" drug" delivery" technology"
that"has"been"confirmed"in"clinical"studies."It"makes"
use"of"patented"highly"effective,"novel"excipients"or"
"penetration" enhancers"" to" radically" improve" a"
drug’s"absorption"and"bioavailability.""
##########################################################
DDAIP###########
Apricus"Bio"(NexMed"USA)"
23"
VITAROS
®##
# NexACT®
Novel#Penetration#Enhancer
Schematic" representation" of" how" permeation"
enhancers" can" temporarily" change" the" permeation"
dynamics" of" the" lipid" bilayer" and" loosen" the" tight"
junctions" between" the" cells," which" enables" an"
increased" absorption" of" drug" into" the" systemic"
circulation" or" an" increase" in" local" absorption."
Scanning"electron"micrographs"of"human"skin."
Mechanism" of" enhanced" permeation." RealEtime"
confocal" microscopy" of" the" DDAPI" on" uptake" of"
Green"Nucleic"Acid"Stain"compared"with"control"
Demonstration"of"AlprostadilENexAct"Penetration"to"the"penis"blood"flow"
Alprostadil Prostaglandin
Vitaros a combination of Alprostadil
with NexACT-DDAIP a lipophilic
enhancer
DDAIP temporarily loosens tight
junctions present in skin epithelial
cells
Thus improves the diffusion of
Alprostadil through the skin allowing
quick penetration of the skin
Alprostadil is then readily absorbed into the corporos
spongieosum and rapidly works by relaxing certain muscles in
the penis and widening blood vessels, which increases blood
flow to the penis and helps to cause an erection
Demonstration"of"AlprostadilENexAct"Penetration"to"the"penis"blood"flow"
More erectile tissue
Allow more blood to enter the penis and
enlarge the spaces in the erectile tissue
Demonstration"of"AlprostadilENexAct"Penetration"to"the"penis"blood"flow"
Alprostadil is delivered to the penis blood capillaries and causing
vasodilation, blood flow and erection
Demonstration"of"AlprostadilENexAct"Penetration"to"the"penis"blood"flow"
Dosing Instructions
Single Dose (0.1ml cream) Dispenser
To"be"dispensed"to"tip"of"penis"in"drop"wise#manner,""
Not#inserted#
#
#
Convenient#Topical#Delivery#
Apricus"Bio"(NexMed"USA)"
28"
VITAROS
®##
#
!  Easy"application"to"the"urethral"meatal"region"
"
"
!  PGE1"unlike"MUSE®""penetrates"rapidly"through"the"
communicating"veins"into"the"corpus"cavernosum"does#
not#need#to#be#instilled#in#the#urethra.#
"
!  Tumescence"of"the"entire"penis"and"full"erection"with"
sexual"stimulation"
Apricus"Bio"(NexMed"USA)"
29"
The#Dynamics#of##VITAROS®#
#Induced#Erection#"
VITAROS
®##
#
"
!  """VITAROS
®
"demonstrated"significant"efficacy""
""""""""""across"a"broad"range"of"ED"severities"and"coEmorbidities"
!  """"VITAROS
®
"presents"an"excellent"safety"profile"
"  No"serious"side"effects"
"  Most"adverse"events"were"localized"to"the"site"of"application"but"were"mild,"short"
in"duration"and"well"tolerated"
!  """"VITAROS
®
"shows"the"potential"for"treating#difficult##to#treat#ED"patients"such"as"
those"with""""diabetes,"cardiac"comorbity,"hypertension,"prostatectomies"or""who"were"
non"responsive"to"Viagra
®"
#
Phase#3#Clinical#Program##
Conclusions#
#
Apricus"Bio"(NexMed"USA)"
30"
VITAROS
®##
#
•  Effective"from"first"dose""
•  Fast"onset"on"demand""
•  NonEinvasive"
•  No"food"effect"
•  Systemically"and"locally"well"tolerated"
•  Effective"and"safe"in"difficult"to"treat"patients"
•  No"interference"with"sexual"spontaneity"
SUMMARY##
OF#PRODUCT#CHARACTERISTICS#
Apricus"Bio"(NexMed"USA's"NexACT"Technology)"
31"
QUALITATIVE AND QUANTITATIVE COMPOSITION
Each single use container contains 300 micrograms of alprostadil in 100 mg of cream (3 mg/g).
PHARMACEUTICAL FORM
Cream
Vitaros is a white to off-white cream supplied in AccuDose, a single dose container. AccuDose is
a container consisting of a plunger, barrel, and protective cap provided in a protective sachet.
Therapeutic indications
Treatment of men ≥ 18 years of age with erectile dysfunction, which is the inability to achieve or
maintain a penile erection sufficient for satisfactory sexual performance.
Posology and method of administration
Vitaros is applied to the tip of the penis. Vitaros is available in two dosage strengths of 200 and 300
mcg alprostadil in 100 mg of cream. Vitaros should be used as needed to achieve an erection. Each
Vitaros AccuDose container is for single use only and should be properly discarded after use.
The onset of effect is within 5 to 30 minutes after administration. The duration of effect is
approximately 1 to 2 hours. The maximum frequency of use is no more than 2-3 times per week and
only once per 24- hour period.
20
40
47
52
10
57
0
10
20
30
40
50
60
70
80
90
100
Placebo 100 mcg 200 mcg 300 mcg
PercentPatientImprovement
32
Global"Assessment"Question"
When"using"the"study"medication,"did"you"feel"your"erections"improved?""""
Phase"3"Pivotal"Clinical"Studies"
Integrated"Efficacy"Analysis"–"Intent"to"Treat"Population"
Vitaros®
p<0.001
Vitaros®
p<0.001
Viagra®
50 mgs and 100 mgs
Source:#Viagra#PI;"Patients"were"started"on"50"mg"and"allowed"to"adjust"the"dose"up"to"100"mg"or"down"to"25"mg"of"VIAGRA;"all"patients,"however,"were"receiving"50"
mg"or"100"mg"at"the"end"of""the"study."On"a"global"improvement""question,"57%"of"VIAGRA"patients"reported"improved"erections"versus"10%"on"placebo."
Vitaros®
p<0.001
Placebo
(Viagra®
study)
Vitaros
N=394
Vitaros
N=408
Vitaros
N=392
Vitaros
N=398
Placebo
(Vitaros®
study)
VITAROS
®##
# Key#Conclusion:######
#Vitaros®##300#mcgs/100#ml#dose#strength#is#comparable##
to#Viagra®#50#mgs#dose#strength#
(alprostadil/DDAIP)""
For"the"Treatment"of"Erectile"Dysfunction"
Apricus"Bio"(NexMed"USA's"NexACT"Technology)"33"
VITAROS
®##
#
VITAROS
®##
34
Comparison"of"Vitaros"and"the"leading"PDE5s"
Brand#
(molecule)#
Company#
Form#
(doses#
available)#
Strengths## Weaknesses#
Vitaros®#
(alprostadil)#
NexMed"USA"
"""""Topical""
(200"mcgs/"100"
ml"and"300"
mcgs/"100"ml)"
No"food"effect"
Quick"onset"of"action:"
10E30"minutes"
Efficacy"demonstrated"in"patient"types,"that"are"
either"contraindicated"for"PDE5s,"or"do"not"show"
efficacy:"
o ""Diabetes,""
o ""Prostatectomy,""
o ""Cardiac"History,"
o ""Viagra"History"and"
o ""Hypertension"
""
Viagra®#
(sildenafil)""
Pfizer"
Oral"(25mg,"
50mg"
and"100mg)"
Effective"30–60"minutes"after"administration"and"
maintained"for"up"to"12"hours"
Efficacy"reduced"after"large"fatty"
meals.""
Contraindicated"for"patients"on"
nitrate"therapy."50mg"or"100mg"of"
sildenafil"should"not"be"taken"within"
4"hours"following"treatment"with"an"
alphaEblocker."
Cialis®#
(tadalafil)""
Eli"Lilly"
Oral"(10mg"and"
20mg)"
Effective"from"30"minutes"after"administration,"with"
peak"efficacy"after"about"2"hours."Efficacy"is"
maintained"for"up"to"36"hours"and"is"not"affected"by"
food"intake."
Contraindicated"for"patients"on"
nitrate"therapy"and"in"patients"taking"
alphablockers."
Levitra®#
(vardenafil)""
Bayer"
Schering/"
GlaxoSmith"
Kline"
Oral"(5,"10"and"
20mg)"
Effective"from"30"minutes"after"administration.""
"
Coadministration"
of"vardenafil"with"tamsulosin"is"not"associated"with"
clinically"significant"hypotension."
Efficacy"is"reduced"after"large"fatty"
meals."
"
Contraindicated"for"patients"on"
nitrate"therapy"
Source: Vitaros PIII Clinical Trial; PDE5 Package Inserts
Key"Conclusion:"
Vitaros®"demonstrated"significant"efficacy"across"a"broad"range"of"ED"severities"and"coEmorbidities"
35
%#of#Patients#
Drug#
Discontinuation#
#Rate# Headaches# Flushing#
Rhinitis/Nasal#
Congestions# Back#Pain# Dyspepsia# Abnormal#Vision#
Vitaros®# 0# 0# 0# 0# 0# 0# 0#
Viagra®# 2# 16# 10# 7# >2# 7# 11#
Cialis®# 3.1# 15# 3# 3# 6# 10# ##
Levitra®# 3.4# 15# 11# 3# 2# 5# ##
Discontinuation#Due#to#Serious#Adverse#Events:##Orals#vs.#Vitaros®#
Source: Vitaros PIII Clinical Trial; PDE5 Package Inserts
Key"Conclusions:"
# Vitaros®"presents"an"excellent"safety"profile"
#  No"serious"side"effects"
#  Most"adverse"events"were"localized"to"the"site"of"application"but"were"mild,"short"in"
duration"and"well"tolerated"
#  Rate"of"patient"discontinuation"from"the"Phase"III"Integrated"Safety"Analysis":"
o #"Penile"burning"(1.2%)"
o ""Genital"pain"(0.9%)"
o ""Penile"erythema"(0.2%)"
o ""Vaginal"burning"(0.2%)"
o ""Other"(0.5%)"
VITAROS®
Comparison#of#Vitaros®#and#the#leading#PDE5s#
36"
Vitaros®
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VITAROS
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