New distribution agreements

RNS Number : 3099S

Venture Life Group PLC

23 September 2014

 

Venture Life Group plc

("Venture Life" or "the Group")

Long-term distribution agreements signed with four new partners

Bracknell, UK - 23 September 2014: Venture Life Group plc (AIM: VLG), the international consumer self-care group addressing the needs of the ageing population, announces that it has signed long-term product distribution agreements with four new partners. The agreements give these distributors exclusive rights to sell certain Venture Life products across a total of nine European territories, including Germany.  Based on the contractual minimum purchase obligations of the partners, these four agreements combined should deliver minimum annual revenues of €0.24 million in year 1, rising to €0.59 million in year 5, and totalling €5.1 million over the ten year term of the agreements.

 

The agreements are with the following companies:

Distributor	Venture Life product	Territories	Expected first revenues for VLG
Valeant	Procto-eze cream	Six, including Germany	H1 2015
Lyfis	Procto-eze cream and cleanser	Iceland	H1 2015
Symphar	Procto-eze cream	Poland	H1 2015
Deltapharma	Original Bioscalin shampoo and capsules	Albania	H1 2015

In addition to these agreements, the Group has already signed a further seven product partnering deals during 2014, as well as four extension deals signed with existing partners for additional Venture Life products. The Group now has distribution agreements covering all 14 of its current branded products in a combined 42 territories worldwide, and its unbranded products manufactured by Biokosmes are sold in over 10 countries.

Jerry Randall, Chief Executive Officer of Venture Life, commented:

"We are delighted to broaden further our partner base in Europe, and to see further validation of our model and products through a long term agreement with Valeant, a global top 50 pharmaceutical company.  We are delivering increasing benefits from the merger with Biokosmes and are seeing gathering momentum in our branded portfolio as we broaden the distribution base of our branded products. We are particularly pleased with our first distribution deal in Germany, the fourth largest economy in the world and a major European territory".

- Ends -

For further information please contact:

Venture Life Group PLC

Jerry Randall, Chief Executive Officer

James Hunter, Chief Financial Officer                                   [phone]

Square1 Consulting

David Bick

Mark Longson                                                                         [phone]

JW Communications

Julia Wilson                                                                             [phone]

Notes to editors

About Venture Life

Venture Life is an international consumer self-care company focused on developing, manufacturing and commercializing products for the ageing population. The Group's product range and pipeline currently include food supplements for lowering cholesterol and maintaining brain function, dermo-cosmetics for addressing the signs of ageing, and medical devices for improving minor aches and pains, dry eyes and itchy skin. The products, which typically are recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies supplied by the Group's international distribution partners.

Through its topical development and manufacturing business, Biokosmes, the Group also provides development and manufacturing services to companies in the medical device and cosmetic sectors.

The Group's own branded products are currently sold or partnered in over 50 countries and currently include:

·     food supplements to maintain brain function and memory;

·     dermo-cosmetics for addressing the signs of skin ageing and hair loss, and

·     medical devices for improving conditions such as minor aches and pains, dry eyes and itchy skin.

The Company has a healthy development pipeline including products in areas such as diabetes, cardiovascular health, obesity, cognitive function and skin ageing. Products coming from the pipeline will be expected to have intellectual property protection and be supported by independent clinical evidence of efficacy.

About Procto-eze

Procto-eze helps relieve the discomfort caused by haemorrhoids.

About Original Bioscalin

Original Bioscalin helps control hair loss, promotes new hair growth and enhances the overall condition of hair.

 

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