Innovus Pharmaceuticals, Inc. (“Innovus Pharma”) (OTCQB: INNV) announced today it has entered into its second exclusive license and distribution agreement with Elis Pharmaceuticals, Ltd. (“Elis Pharma”). Under the agreement Innovus Pharma granted to Elis an exclusive license to market and sell Zestra® for female arousal and desire in Lebanon. Innovus Pharma is eligible to receive up to $2.25 million in sales milestone payments plus an agreed-upon transfer price.
Bassam Damaj, President and Chief Executive Officer of Innovus Pharma, commented, “We are very excited about this second commercial partnership collaboration with Elis. Zestra® was commercialized in Lebanon by Semprae Labs prior to being acquired by Innovus Pharma. We look forward to working with Elis Pharma to re-establish market presence of Zestra® in Lebanon. We continue to be focused on executing on our goals of making our products commercially available in markets outside of the United States and achieving our goal of profitability in 2017.”
“This second partnership highlights our excitement about Innovus Pharma’s unique and innovative products,” said Mr. Rashed Assouma, CEO of Elis Pharmaceuticals. “In this region Elis Pharma has over 1,000 products, including the exclusive license to Vitaros® for erectile dysfunction licensed from Apricus Biosciences, and we have a dedicated sales force targeting urologists and gynecologists in Lebanon. Zestra® is a well-respected and known brand in Lebanon by gynecologists and consumers, and we look forward to getting the required government approval to re-launch Zestra® in the near future.”
Zestra® is currently commercialized in the U.S. by Innovus Pharma, in Canada by Orimed Pharma, in Africa by Sothema Labs, in Hong Kong by PT Laras Bumi Resources, and in select European countries by Danalife.
Zestra® has also received approval in India and the United Arab Emirates.
About Zestra ® and FSI/AD
Zestra® is a patented blend of natural oils clinically proven in double-blind, placebo-controlled clinical trials in 276 women to increase in a statistically significant manner the arousal, desire and sexual satisfaction in FSI/AD women. Zestra® is the first NHP product to receive approval for the indication of FSI/AD in Canada. To date, no product has been approved to treat FSI/AD, a persistent or recurring inability to attain or maintain adequate sexual excitement until the completion of a sexual activity. The diagnosis can also refer to an inadequate lubrication-swelling response normally present during arousal and sexual activity, causing personal distress. Published papers on the FSI/AD market size estimate it to be equal to or larger than the market for erectile dysfunction in males, and possibly larger.
About Elis Pharmaceuticals, Ltd.
Elis Pharmaceuticals markets and distributes over 1,000 branded and generic pharmaceuticals and under-licensed products. Established in the United Arab Emirates, Elis Pharmaceuticals’ fast growth has allowed it to become a global company, with a strong focus on the Middle East and North Africa and Turkey. Elis Pharmaceuticals serves over 40 markets and has strengthened its presence by collaborating with multinational companies.
For more information, visit Elis Pharmaceuticals’ website at www.elispharmaceuticals.com.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging commercial stage pharmaceutical company delivering over-the-counter medicines and consumer care products for men's and women's health and respiratory diseases. The Company generates revenues from its lead products (a) BTH® Testosterone Booster, (b) BTH® Human Growth Agent, (c) Zestra® for female arousal and (d) EjectDelay® for premature ejaculation, and has an additional five marketed products in this space, including (e) Sensum+® to help with reduced penile sensitivity, (f) Zestra Glide®, (g) Vesele® for promoting sexual health, (h) RecalMax™ for promoting brain and cognitive health, (i) Androferti® (in the US and Canada) to support overall male reproductive health and sperm quality, (j) BTH Vision Formula, (k) BTH Blood Sugar, among others, and eventually FlutiCare™ OTC for allergic rhinitis, if its ANDA is approved by the U.S. FDA.
For more information, go to www.innovuspharma.com, www.zestra.com, www.ejectdelay.com, www.myvesele.com, www.sensumplus.com, www.myandroferti.com, www.beyondhumantestosterone.com, www.getbeyondhuman.com, www.trybeyondhuman.com, www.recalmax.com, www.urivarx.com.
Innovus Pharma's Forward-Looking 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, results from the above pre-clinical and clinical trial, projected revenues, projected online subscribers, estimated market for its products, and statements about achieving its other development, growth, commercialization, financial and staffing objectives. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161108005331/en/Business Wire
Last updated on: 08/11/2016
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