DGAP-News: Apricus Biosciences Appoints Steve Martin as Senior Vice President and Chief Financial Officer

Apricus Biosciences, Inc.

02.06.2011 18:00
—————————————————————————

SAN DIEGO, 2011-06-02 18:00 CEST (GLOBE NEWSWIRE) —
Apricus Biosciences, Inc. (–Apricus Bio–) (Nasdaq:APRI) today announced that
Steve Martin has been appointed Senior Vice President and Chief Financial
Officer, replacing Mark Westgate, who will serve as a consultant to the Company
during a transition period.

Mr. Martin, a certified public accountant, brings over 25 years of financial
leadership to Apricus Bio, with significant expertise in growing public
companies in a variety of industries, including the life sciences. Since 2008,
Mr. Martin served as Senior Vice President and Chief Financial Officer of
BakBone Software, a publicly-traded software company. Mr. Martin also served as
Interim CEO over the final 10 months with BakBone and through the successful
sale of the company that was completed in January of 2011. From 2005 to 2007,
Mr. Martin served as Chief Financial Officer of Stratagene Corporation, a
publicly-traded company specializing in the development, manufacture and
marketing of specialized research and clinical diagnostic products. Mr.
Martin–s experience also includes the position of Controller with
publicly-traded Gen-Probe Incorporated, a life sciences company, as well as 10
years with the public accounting firm of Deloitte&Touche.

Mr. Martin holds a B.S. in Accounting from San Diego State University. In 2011,
Mr. Martin was awarded the San Diego Business Journal–s –CFO of the Year Award–
for Medium Public Companies. He is also the former President and a member of
the Board of Directors of the Financial Executives International San Diego
Chapter.

–I am pleased to welcome Steve to Apricus Bio and I am sure we will benefit
from his vast public company life science experience, as we move the Company to
the next level,– said Dr. Bassam B. Damaj, Chairman, Chief Executive Officer
and President of the Company. –We continue to grow our executive team and I
look forward to working with Steve to build Apricus Bio into a commercial stage
biopharmaceutical company by increasing the reach of our product partnerships
and drug development collaborations.–

–I would also like to thank Mark for the many years of service he has provided
to NexMed and to the Company–s transition to Apricus Bio in San Diego. I wish
him well in his future endeavors,– continued Dr. Damaj.

About Apricus Biosciences, Inc.

Apricus Bio, a San Diego based revenue-generating pharmaceutical company, has
leveraged the flexibility of its clinically-validated NexACT(r) drug delivery
technology to enable multi-route administration of new and improved compounds
across numerous therapeutic classes.

Revenues and growth are driven from out-licensing of this technology for the
development and commercialization of such compounds to pharmaceutical and
biotechnology companies worldwide. In addition, the Company is seeking to
monetize its existing product pipeline, including its first product, Vitaros(r),
approved in Canada for the treatment of erectile dysfunction, which is
currently expected to be available on the Canadian market in 2011, as well as
compounds in development from pre-clinical through Phase III, currently focused
on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain,
Anti-Infectives, Diabetes and Cosmeceuticals among others.

For further information on Apricus Bio, visit http://www.apricusbio.com and for
information on its subsidiaries please visit www.nexmedusa.com or
www.bio-quant.com. You can also receive information at
http://twitter.com/apricusbio and http://facebook.com/apricusbio.

Apricus Bio–s Forward-Looking Statement Safe Harbor

Statements under the Private Securities Litigation Reform Act, as amended: with
the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risks
and uncertainties that may individually or mutually impact the matters herein
described for a variety of reasons that are outside the control of the Company,
including, but not limited to, its ability to further development products and
product candidates, have such products and product candidates approved by
relevant regulatory authorities, to successfully commercialize such products
and product candidates and to achieve its other development, commercialization
and financial goals. Readers are cautioned not to place undue reliance on these
forward-looking statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read the risk
factors set forth in the Company–s most recent annual report on Form 10-K,
subsequent quarterly reports filed on Form 10-Q and other filings made with the
SEC. Copies of these reports are available from the SEC–s website or without
charge from the Company.

CONTACT: Apricus Biosciences, Inc.
Edward Cox, V.P.
Corporate Development&Investor Relations,
Apricus Biosciences, Inc.
(858) 848-4249
ecox@apricusbio.com

Apricus Bio Investor Relations
Paula Schwartz
Rx Communications Group, LLC
(917) 322-2216
pschwartz@rxir.com
News Source: NASDAQ OMX

02.06.2011 Dissemination of a Corporate News, transmitted by DGAP –
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP–s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

—————————————————————————

Language: English
Company: Apricus Biosciences, Inc.

United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901429525
WKN:

End of Announcement DGAP News-Service

—————————————————————————