Paladin Labs has entered into a licensing and distribution agreement with Dynamiclear Australia, under which Paladin receives the exclusive rights to market and sell cold sore treatment Dynamiclear Rapid in Canada. Paladin also received an option to acquire rights to Dynamiclear’s antiviral formulation for Herpes Simplex Virus-2 infections, which is currently under development. Financial terms were not disclosed.
“We are pleased to add Dynamiclear Rapid to our OTC portfolio. Cold sores are one of the most common viral diseases in humans. We believe that Canadian sufferers will prefer Dynamiclear Rapid for the convenience of its single application treatment as well as the speed and efficacy of the relief it delivers,” said Mark Beaudet, interim president and chief executive officer of Paladin. “Dynamiclear Rapid will complement our growing OTC business, which already includes well known consumer brands like Plan B, Tempra, and Zincofax.”
“We are very excited to partner with Paladin in Canada,” said Dr. John Spurge, executive director of Dynamiclear. “This is a major event for Dynamiclear and we have confidence in the market potential of Dynamiclear Rapid in Canada given the continued strong sales in Australia. Paladin has a proven track record and the ability to maximize the commercial potential of Dynamiclear Rapid.”