Venture Life Group PLC Licensing and distribution agreements (0114M)
January 09 2023 - 2:00AM
UK Regulatory
TIDMVLG
RNS Number : 0114M
Venture Life Group PLC
09 January 2023
9(th) January 2023
VENTURE LIFE GROUP PLC
("Venture Life" "VLG" or the "Company")
License agreement secured of internally developed oral care
asset
New exclusive long term international distribution agreements
secured for Gelclair & Pomi-T
Venture Life (AIM: VLG), a leader in developing, manufacturing
and commercialising products for the self-care market, is pleased
to announce the licensing of an internally developed oral care
range to an existing long term customer and that it has signed a
further distribution agreements for Gelclair & Pomi-T.
Oral care asset
VLG has licensed a range of its own internally developed mouth
ulcer products (the "Products") to a long term and existing
customer for certain key EU and other markets. The Products were
developed at VLG's facilities in Italy and will be made at the
factory going forward. The Products are currently undergoing
registration for the new Medical Device Regulations in the EU.
The total license fee to be received by VLG is EUR1.35 million,
which will be paid on certain milestone events over the next 24
months with an option to extend the licence to include additional
territories for a further license fee of up to EUR200,000.
Gelclair
Furth er to the signing of Gelclair in Brazil in December, the
Company is pleased to announce it has signed a further two new
exclusive long-term agreements in Canada and Vietnam.
The Canadian partner is one of Canada's fastest growing
independent pharmaceutical companies. It is focused on
commercialising products that provide a distinguishable benefit to
patients and their healthcare providers and is known for its
ability to effectively and efficiently introduce new products to
the Canadian market. With presence in pharmacies and hospitals
throughout Canada, they will promote Gelclair to doctors,
pharmacists and other healthcare professionals in all ten of
Canada's provinces. The launch will take place in 2023 following
registration.
The Vietnam partner focuses on the import and distribution of
pharmaceuticals, dietary supplements, active pharmaceutical
ingredients and cosmetics. Their reach extends to c.20,000 OTC
pharmacies as well as 700 hospitals, which represents approximately
50% of the total number of hospitals in Vietnam. This new agreement
will enable Gelclair to be marketed and sold through both their
pharmacy and hospital channels.
Pomi-T
The Company has signed a long-term distribution agreement for
Pomi-T in Peru. Our Peruvian partner has expertise detailing to
oncologists and healthcare professionals and the launch is expected
to take place in H2 2023.
Gianluca Braguti, Chief Manufacturing and Development Officer
commented : "I am delighted to license these new products to an
existing significant long term partner of the Group. We have a very
innovative and active development team in Biokosmes, and this
license transaction demonstrates the significant value this team
creates for both ourselves and our customers".
Jerry Randall, CEO of Venture Life, commented "The mouth ulcer
market is not a target for our own brands, and value is better
achieved for us by licensing this to an existing long term partner,
which will sell it under their own brand. This transaction
demonstrates the skillset of our team at Biokosmes to innovate and
develop and our ability to exploit these internal capabilities.
Also, further to the acquisition of Gelclair last year, we are
pleased to have appointed another two important new partners in
both Canada and Vietnam, thus continuing to build the value of the
acquired asset. We are confident that Gelclair will be properly
marketed, promoted and managed by both new partners, which will
allow a clinically proven solution to an unmet need in each
market".
For further information, please contact:
Venture Life Group PLC +44 (0) 1344 578004
Jerry Randall, Chief Executive Officer
Daniel Wells, Chief Financial Officer
+44 (0) 20 7397
Cenkos Securities plc (Nomad and Joint Broker) 8900
Michael Johnson/Russell Kerr (Sales)
Stephen Keys/Camilla Hume (Corporate Finance)
+44 (0) 20 7496
Singer Capital markets (Joint Broker) 3000
Jonathan Dighe (Sales)
Shaun Dobson/Alaina Wong (Corporate Finance)
About Venture Life ( www.venture-life.com )
Venture Life is an international consumer self-care company
focused on developing, manufacturing and commercialising products
for the global self-care market. With operations in the UK, Italy,
The Netherlands and Sweden, the Group's product portfolio includes
some key products such as the UltraDEX and Dentyl oral care product
ranges, the Balance Active range in the area of women's intimate
healthcare, the Lift and Glucogel product ranges for hypoglycaemia,
products for fungal infections and proctology, and dermo-cosmetics
for addressing the signs of ageing. Its products are sold in over
90 countries worldwide.
The products, which are typically recommended by pharmacists or
healthcare practitioners, are available primarily through
pharmacies and grocery multiples. In the UK and The Netherlands
these are supplied direct by the company to retailers, elsewhere
they are supplied by the Group's international distribution
partners.
Through its two Development & Manufacturing operations in
Italy and Sweden, the Group also provides development and
manufacturing services to companies in the medical devices and
cosmetic sectors.
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