The parent company of Augusta-based Osbon Medical Systems has announced a joint venture with Las Vegas-based Harvard Scientific to develop and distribute a new treatment for impotence.
Osbon will partner with Harvard Scientific, a pharmaceutical company working on the use of the drug prostoglandin E-1 to treat impotence.
Newport Beach, Calif.-based UROHEALTH Systems acquired Augusta-based Osbon Medical Systems a year ago. Osbon already markets other products, including a noninvasive vacuum device and an implant device, plus an injection therapy that requires needle and syringe, all for treatment of impotence.
"By entering into the pharmaceutical arena, Osbon will now provide all three of the primary treatments for impotence, from the least to most invasive," said Jack Pahl, vice president of new product development and an architect of the deal.
Osbon will be responsible for worldwide sales and distribution when it receives approval from the FDA. Clinical trials are scheduled to begin this month, and the companies expect to introduce the product within two years.
"The method is fast-acting, less invasive and has fewer side effects than existing drug therapies," because it uses a tiny flexible applicator, Osbon said in its announcement.