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Negotiating deals with contacts made through Pharmalicensing
Through its profile on Pharmalicensing, California based Cosmederm has been introduced to a number of new potential partners with whom it is now in discussions regarding possible business relationships. Sean Edwards, CEO at Cosmederm spoke to Pharmalicensing about the success he and his company have achieved by posting the company and its licensing details on the site ‘We have seen a significant amount of traction from our posts. Our profile on Pharmalicensing has especially opened a lot doors to foreign markets, which otherwise may have been hard for us to access.’
Cosmederm Technologies, which develops novel technologies for the dermatology field, first became aware of Pharmalicensing through a simple internet search. After seeing the other companies and postings on the site, Cosmederm began profiling some of its own products and technologies…. And has been pleased with the outcome.
‘Pharmalicensing has provided us with significant deal flow that we feel will help grow our Company’
After reviewing other similar sites, Mr Edwards decided on Pharmalicensing for posting Cosmederm’s licensing opportunities; he finds that the website is intuitive and has good functionality ‘It’s easy to access different areas of the site, and it allows me to quickly check the website on a periodic basis to look for any new opportunities or potential partners’ Mr Edwards told us. Cosmederm currently has two dermatology based licensing opportunities featured on the site; one for a potent OTC anti-itch product and another for an OTC medication for acne/rosacea. The Company is also developing a number of prescription topical drugs, cosmeceuticals and other OTC drugs based on its patented technology.
Cosmederm recently renewed its Pharmalicensing profile for another year. ‘When we were asked about renewing, it was what Americans refer to as a ‘no brainer’ (It basically required very little thought)’ Mr Edwards joked. ‘Pharmalicensing has provided us with not only a great deal of visibility with respect to our own technology but also knowledge of other opportunities that may fit within our business strategy. I would certainly recommend it to others that have a similar business model to ours.’
Wide spectrum of companies
One of the key highlights of Pharmalicensing for Cosmederm has been the quality and range of companies that visit the site. ‘We have had enquiries from global pharma and consumer products companies as well as smaller biotech companies and specialty pharmas.’ Mr Edwards told us, ‘This has yielded further discussions about tangential applications of our technology for which a company may have an interest or a need, but of which they weren’t aware of based on our current postings.’
Pharmalicensing is now used by over 90, 000 pharmaceutical executives per month and it seems its clients are most definitely benefiting.
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