Sales and Distribution Agreem

RNS Number : 6916I

ValiRx PLC

17 March 2010

 



ValiRx Plc ("ValiRx")

ValiRx announces SELFCheck kit range sales and distribution agreement for North America

ValiRx is pleased to announce that ValiMedix, its sales and marketing division, has concluded a sales and distribution license agreement for its SELFCheck range of products with Eternity Healthcare Inc ("Eternity"). The agreement grants Eternity exclusive distribution rights in Canada and non-exclusive rights in the US. Eternity is part of the Global Ventures Group (the "Group") and will be able to access the Group's knowledge and experience to build awareness of the SELFCheck brand in the pharmacy sector in both territories.

Under the terms of the agreement, ValiMedix receives an immediate signing fee and will supply products to Eternity at agreed prices. Eternity will pay ValiMedix a royalty on all sales. The licensee has an obligation for a minimum yearly purchase quota and will bear the cost of the promotional activities within the territories.

In the UK, the SELFCheck range is continuing its steady growth and customer numbers and sales in other territories of the EU are now expanding.

ValiMedix has the exclusive rights to its SELFCheck products and has an established strong supplier base for their production. The SELFCheck range of kits consists of 9 products for the early stage detection of health problems. These include a Prostate Specific Antigen test (PSA) an early indicator of prostatic growth, and a test for colorectal problems.

Dr Satu Vainikka, CEO commented:

"ValiRx is pleased to have partnered with Eternity to commercialise our SELFCheck product range. At-home diagnostic tests may provide valuable information and enable patients to consult their doctors earlier, preventing complications downstream The agreement with Eternity will provide additional sales and distribution channels for our existing and complementary pipeline of products in one of the biggest health care markets and takes us closer to our goal of building a commercial biopharmaceutical company."

Patrick Kirby, MD, ValiMedix said:

"The partnership with Eternity at this stage is an opportunity to establish a strong market presence in North America The agreement will allow us to maximise the experience and track record that exists in the healthcare and pharmacy sectors in Canada and the US, invaluable in further building the SELFCheck brand."

Enquiries:

ValiRx plc Dr. Satu Vainikka	Tel: [phone]
WH Ireland Limited - Nominated Adviser Robin Gwyn	Tel: [phone]

 

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