KLOX Technologies has announced the sale of its professional in-dentists-office whitening kit and teeth-whitening pen businesses to Valeant Pharmaceuticals International, which will be managed by its dental affiliate OraPharma (Valeant).
The acquisition will enable Valeant to expand its commercial capabilities within the dental market segment.
The deal includes an upfront payment and a double-digit royalty stream, based on product sales during the next 10 years.
KLOX Technologies president and CEO Lise Hebert said Valeant has conveyed its commitment towards taking the company’s product lines to the full potential through commercial capabilities in the US and around the world.
"This is a very exciting opportunity for all of us and at KLOX we will continue building our value-creation strategy and invest in our innovation and development for the advancement of medical solutions in the fields of dermatology, dentistry and tissue repair," Hebert added.
"Our European registration trial to treat moderate-to-severe acne is scheduled to complete in a few weeks and the evaluation of the safety and efficacy of our devices to treat unresponsive chronic wounds in America and Europe is underway.
"The next 24 months will be important for KLOX in the delivery to the market of brand new solutions to address what still today remain unmet medical needs in the treatment of acne and the advanced wound care fields."
OraPharma senior vice-president Steven sembler said, "We immediately want to build upon those capabilities and use both our commercial organization and network of partners to leverage them into attractive product propositions and to create additional value for both patients and clinicians."
Valeant is planning to launch the products in the US in early 2013.