REG - Venture Life Group - Licensing and distribution agreements

Venture LifeAnnouncement

09/01/2023 07:00

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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 €1.35 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 €200,000.

 

Gelclair

Further 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

 Cenkos Securities plc (Nomad and Joint Broker)      +44 (0) 20 7397 8900
 Michael Johnson/Russell Kerr (Sales)

 Stephen Keys/Camilla Hume (Corporate Finance)

 Singer Capital markets (Joint Broker)               +44 (0) 20 7496 3000
 Jonathan Dighe (Sales)

 Shaun Dobson/Alaina Wong (Corporate Finance)

About Venture Life (www.venture-life.com (http://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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