PUBLIC NOTICE OF TRUSTEE-ASSIGNEE SALE: Elorac, Inc

NOTICE OF TRUSTEE-ASSIGNEE’S SALE

Chicago, IL – Robert Handler is the Trustee-Assignee for the Benefit of Creditors of Elorac, Inc., a pharmaceutical company best known for developing and marketing drugs and dietary supplements primarily in dermatology, but also in the areas of pain, neurology, oncology, and ophthalmology. Elorac is no longer in business and all company assets are available for sale.

Qualified bidders are now invited to participate in a competitive sale process. Additional details, including the full marketing package, are available here.

Upon execution of a non-disclosure agreement (NDA), qualified parties will gain access to key materials, including:

• Previous years’ tax returns
• Financial statements
• Detailed information on products and technologies

Corporate assets available for acquisition include:

• Marketed prescription dietary supplement for acne: NicAzel FORTE
• NDA-approved and previously marketed prescription drug for actinic keratoses with no generic competitor
• Two commercial-ready dietary supplements with clinical and non-clinical data and consisting of proprietary GRAS ingredient complexes
  •  – Heprotect® for liver protection
  •  – Elimune for inflammatory conditions such as psoriasis, psoriatic arthritis, and rheumatoid arthritis
• Three analgesic drug products de-risked through Phase II and requiring only one or two Phase III studies for US NDA approval:
  •  – Topical cream for osteoarthritis that is NDS-approved and commercial- ready in Canada
  •  – Topical patch for post-herpetic neuralgia with orphan drug designation in the US
  •  – Intranasal solution for episodic cluster headache, which also has positive Phase II clinical data in dry-eye disease
• Two prescription products under development for itching conditions:
  •  – A novel, patent-protected drug for pruritus associated with atopic dermatitis that is de-risked in terms of safety and has demonstrated remarkable proof-of-concept efficacy based on non-clinical studies
  •  – A drug with orphan drug designation in the US and EU for pruritus associated with cutaneous T-cell lymphoma
• Patents, trademarks, technology, clinical and non-clinical data, regulatory filings and correspondence, know-how, and trade secret formulas
• 190 gigabytes of electronic data comprising about 218,000 files, and approximately 400 boxes of hard copy files
• Experienced operational leadership open to remaining with the business

Sale Timeline & Key Details:

• Opening bid: USD$150,000 or best offer
• Bid Submission Deadline (Sealed Bids Due): 5:00 PM CST on September 10 2025
• If necessary, a live final sale for top 3 bidders: 1:00 PM CST on September 17, 2025
• Deposit Requirement: A USD$25,000 deposit is required for participation (due at bid submission)
• Proof of Funds: All bidders must submit proof of financial capability with their bids
• Sale is subject to the Trustee-Assignee’s approval

This is a Trustee-Assignee’s Sale. All assets will be sold “as-is, where-is” with no representations or warranties. Purchaser will be responsible for pick-up of product, titles and supporting material at Purchaser’s expense.

To request an NDA, or schedule a call with the Trustee-Assignee, please contact: [email protected]

To seller’s knowledge, the corporate assets do not include any individual’s protected health information (PHI). Buyer will be required to represent that should any PHI be discovered among the corporate assets, that Buyer will destroy such PHI per the regulations under the Health Insurance Portability and Accountability Act (HIPAA).