DOYLESTOWN, PA (November 3, 2005) The Quigley Corporation (NASDAQ: QGLY),
announced today that the Company has retained New York-based Brocair Partners
LLC to provide assistance to management in evaluating various strategic options
for Quigley Pharma's QR-340 Scar Formula.
Brocair Partners will provide expertise in evaluating strategic options
including the potential sale, license, or internal commercialization of the
QR-340 Scar Formula for the improvement of the appearance of scars.
Quigley Pharma developed QR-340 through internal research and development. The
Company's core business development for its pharmaceutical subsidiary is to
focus on bringing its prescription pharmaceutical compounds through the
clinical trial process to commercialization. As a result, Brocair Partners
will assist The Quigley Corporation in evaluating initiatives to achieve the
commercialization of QR-340, which, as a product geared for the
over-the-counter (OTC) or cosmetic markets, may potentially be better achieved
by a firm that is focused on the branding and distribution of cosmetics and OTC
dermatology or skin care products.
"Over 50 Million Americans experience scarring from burns, injuries, and
surgeries each year. The estimated current market is $60 million for products
that can enhance physical appearance and minimize the appearance of scars. We
believe this is an opportunity for QR-340 and we look forward to exploring
various strategic options to best capitalize on this formulation," said
Guy J. Quigley, President of The Quigley Corporation.
About QR-340
The patent pending QR-340 Scar Formula is a blend of botanical-derived
ingredients delivered in an easily applied topical hydrophilic ointment. When
applied as directed, QR-340 has been shown to soften tissue to reduce the
fibrous appearance of scars.
A recent study showed that QR-340 helps reduce overall scar area post surgery
better than placebo or Mederma® in every assessment as measured by five
cosmetic evaluations. QR-340 was six times more effective then the placebo,
twice as effective as Mederma® for improving scar width and area appearance,
showed positive results earlier than placebo or Mederma®, and was shown to be
safe and well tolerated by the participants. Mederma® is a registered trademark
of Merz Pharmaceuticals.
About The Quigley Corporation
The Quigley Corporation (Nasdaq: QGLY, http://www.Quigleyco.com) is a
diversified natural health medical science company. Its Cold Remedy segment is
a leading marketer and manufacturer of the COLD-EEZE® family of lozenges, gums
and sugar free tablets clinically proven to cut the common cold nearly in half.
COLD-EEZE customers include leading national wholesalers and distributors, as
well as independent and chain food, drug and mass merchandise stores and
pharmacies. The Quigley Corporation has four (4) wholly owned subsidiaries.
Darius International markets health and wellness products through its wholly
owned subsidiary, InnerLight Inc. Quigley Manufacturing Inc. consists of two
FDA approved facilities to manufacture COLD- EEZE® lozenges as well as fulfill
other contract manufacturing opportunities. Quigley Pharma Inc.
(http://www.QuigleyPharma.com) conducts research in order to develop and
commercialize a pipeline of patented botanical and naturally derived
prescription drugs.
About Brocair Partners LLC
Brocair Partners LLC, based in New York, provides advice on mergers and
acquisitions, strategic partnerships, equity and debt financings, and
healthcare research and advisory projects to small and middle-market public and
private healthcare companies.
Brocair Partners' primary coverage focus is on companies that operate within
the following categories: Medical Technology, Biopharmaceuticals, Healthcare
Services, and Healthy Consumer Products. By focusing solely on healthcare,
Brocair has developed a strategic understanding of the industry and its nuances
that enables the firm to evaluate the needs of its clients more accurately. For
additional information on Brocair Partners please visit http://www.brocair.com.
The Quigley Corporation makes no representation that the US Food and Drug
Administration or any other regulatory agency will grant an Investigational New
Drug ("IND") or take any other action to allow its formulations to be
studied or marketed. Furthermore, no claim is made that potential medicine
discussed herein is safe, effective, or approved by the Food and Drug
Administration. Additionally, data that demonstrates activity or effectiveness
in animals or in vitro tests do not necessarily mean the formula test compound,
referenced herein will be effective in humans. Safety and effectiveness in
humans will have to be demonstrated by means of adequate and well-controlled
clinical studies before the clinical significance of the formula test compound
is known. Readers should carefully review the risk factors described in filings
the Company files from time to time with the Securities and Exchange
Commission.
Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995 and involve known and unknown risk, uncertainties and other factors
that may cause the company's actual performance or achievements to be
materially different from the results, performance or achievements expressed or
implied by the forward-looking statement. Factors that impact such
forward-looking statements include, among others, changes in worldwide general
economic conditions, changes in interest rates, government regulations, and
worldwide competition.
