Licensing and distribution agreements

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

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		[phone]
Jerry Randall, Chief Executive Officer Daniel Wells, Chief Financial Officer
Cenkos Securities plc (Nomad and Joint Broker)		[phone]
Michael Johnson/Russell Kerr (Sales) Stephen Keys/Camilla Hume (Corporate Finance)
Singer Capital markets (Joint Broker)		[phone]
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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