Apricus Biosciences Announces Approval of Vitaros(R) for the Treatment of Erectile Dysfunction in Lebanon

This is the twenty-third country in which the product has been approved, including Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland and the United Kingdom.

"We are very pleased that Vitaros has received its first approval in the Middle East," said Richard Pascoe, Chief Executive Officer of Apricus. "Moreover, we look forward to Elis' launch of Vitaros in Lebanon, and additional launches this year by other commercial partners in countries where the product has been approved, but is not currently marketed."

In January 2011, Apricus signed an exclusive license agreement with Elis to market Vitaros in the Gulf States and part of the Middle East, including Lebanon, Syria, Jordan, Iraq and Yemen. Under the terms of the agreement, Apricus has received an upfront payment of $100,000 from Elis. Apricus is eligible to receive a regulatory milestone payment of $100,000 as the result of this approval, which the Company expects to receive this quarter, as well as up to $1.9 million in milestone payments on future sales, plus tiered double-digit royalties in the low to high teens based on Elis' net sales of the product.

About Apricus Biosciences, Inc .

Apricus Biosciences, Inc. (APRI) is a biopharmaceutical company advancing innovative medicines in urology and rheumatology. Apricus' commercial product, Vitaros ^® , for the treatment of erectile dysfunction, is approved in Europe and Canada and is being commercialized in several countries in Europe. In September 2015, Apricus in-licensed the U.S. development and commercialization rights for Vitaros from Allergan. Apricus' marketing partners for Vitaros include Recordati Ireland Ltd. (Recordati S.p.A.), Ferring International Center S.A. (Ferring Pharmaceuticals), Laboratoires Majorelle, Bracco S.p.A., Mylan NV and Elis Pharmaceuticals Ltd.  Apricus currently has one active product candidate, RayVa ^(TM) , its product candidate for the treatment of the circulatory disorder Raynaud's phenomenon.

For further information on Apricus, visit http://www.apricusbio.com.

    Matthew Beck
    mbeck@troutgroup.com
    The Trout Group
    (646) 378-2933