Bassam Damaj, president and chief executive officer of NexMed, said: “Our Bio-Quant business has experienced continuous growth during the past five years, including an increase of over 20% in revenues in 2009, alone. This has been achieved, in part, through a prior diversification of our service capabilities and entrance into new geographical markets. The ongoing expansion of our facilities is in response to the rising demand for the specialized services that we offer.”

Based in San Diego, NexMed is the specialty CRO for providing in vitro and in vivo pharmacology services and research models. The company’s goal is to generate revenues from the growth of its Discovery Pre-clinical CRO business, while seeking to monetize its NexACT drug delivery technology through out-licensing agreements with pharmaceutical and biotechnology companies, worldwide.

Reportedly, at the same time, NexMed is actively pursuing partnering opportunities for its NexACT-based treatments for onychomycosis, psoriasis, sexual dysfunction and cancer.

Bio-Quant is a CRO that offers in vitro and in vivo pharmacology services and research models specializing in oncology, inflammation, immunology, and metabolic diseases.