18 August 2021 - - Canada-based commercial dermatology company Crescita Therapeutics Inc. (TSX: CTX) (OTC US: CRRTF) and German specialty pharma, generics and consumer healthcare group Stada Arzneimittel AG's STADA MENA DWC-LLC subsidiary have inked an exclusive commercialization and development license agreement for the exclusive rights to the topical anaesthetic cream Pliaglis, in 15 countries in the Middle East and North Africa region, the companies said.

The countries covered comprises Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Qatar, Bahrain, Jordan, Lebanon, Egypt, Algeria, Morocco, Tunisia, Iraq, Libya and Yemen.

Under the terms of the Agreement, Stada will be responsible for commercializing Pliaglis in the Territories utilizing its experienced sales force.

Crescita will be eligible to receive an upfront payment and will be the exclusive supplier of Pliaglis at a defined price per unit. Crescita will also provide regulatory support to Stada for seeking approval for Pliaglis in the Territories.

Stada said it expects to submit the requisite regulatory filings in the Territories as soon as practicable.

Crescita (TSX: CTX) (OTC US: CRRTF) is a growth-oriented, innovation-driven Canadian commercial dermatology company with in-house R and D and manufacturing capabilities.

The company offers a portfolio of non-prescription skincare products and early to commercial stage prescription products.

In addition, it owns multiple proprietary transdermal delivery platforms that support the development of patented formulations that facilitate the delivery of active ingredients into or through the skin.

Stada Arzneimittel AG is headquartered in Bad Vilbel, Germany. The company focuses on a three-pillar strategy consisting of generics, specialty pharma and non-prescription consumer healthcare products. Worldwide, Stada Arzneimittel AG sells its products in approximately 120 countries.

In financial year 2020, STADA achieved group sales of EUR 3,010.3 m and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 713.3m.

As of December 31, 2020, STADA employed 12,301 people worldwide.

Pliaglis is a topical local anaesthetic cream that provides safe and effective local dermal analgesia on intact skin prior to superficial dermatological procedures.

The formulation contains a eutectic mixture of 7% lidocaine and 7% tetracaine that utilizes Crescita's proprietary phase-changing topical cream Peel technology.

The Peel technology consists of a drug-containing cream which, once applied to a patient's skin, dries to form a pliable layer that releases drug into the skin.