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8-K - FORM 8-K - INNOVUS PHARMACEUTICALS, INC. | innv8k_may102017.htm |
Exhibit 99.1
Innovus Pharma Signs Exclusive License and Distribution
Agreement
with Densmore for Zestra(R) for Female Sexual Arousal
Disorder
in France and Belgium
San Diego, Calif., May 16,
2017 – Innovus Pharmaceuticals, Inc. ("Innovus
Pharma" or the “Company”) (OTCQB Venture Market: INNV),
an emerging over-the-counter (“OTC”) consumer goods and
specialty pharmaceutical company engaged in the commercialization,
licensing and development of safe and effective non-prescription
medicine and consumer care products to improve men’s and
women’s health and vitality and respiratory diseases,
announced today the signing of an exclusive license and
distribution agreement with Densmore Pharmaceutical International
(“Densmore”), a company based in Monaco for the
commercialization of Zestra(R) in France and
Belgium.
“We are pleased to expand the commercialization market for
Zestra(R) in the European Union to France and Belgium,” said
Innovus Pharma CEO, Dr. Bassam Damaj. “Densmore is our
15th
distribution partner for our products outside the United States and
is very important for us to compete in one of the largest markets
in Europe” said Innovus CEO Dr. Bassam Damaj. “This
partnership is one more step towards achieving our 2017 corporate
goals for revenue and profitability from our international
distributors,” continued Dr. Damaj.
“We
are excited to commercialize Zestra for the French and the Belgium
market as it will fulfill a large unmet medical need. Zestra is a
very well-studied project with strong placebo controlled clinical
trials and we believe it will provide a strong natural solution for
women” said Dr. Philippe Caron, CEO of Densmore and an
authority on women’s health products in the French
market.
Zestra(R)
is currently exclusively partnered with Orimed Pharma, the OTC
subsidiary of Jamp Pharma in Canada, DanaLife ApS in select
European markets, Sothema Laboratories for the Middle East and
North Africa, Elis Pharmaceuticals in Turkey and certain select
markets, Oz Biogenics for Myanmar and Vietnam, BioTask in Malaysia
and J&H Co. LTD in South Korea, and non-exclusively to PT
Resources in Hong Kong and certain select Asian
markets.
Zestra(R)
is approved in Canada, the 28 countries of the European Union,
India, Hong Kong, the United Arab Emirates (“UAE”),
United Kingdom and Morocco. Innovus currently generates revenues
from the following markets for Zestra(R): Canada, Morocco, certain
European countries and Hong Kong in addition to the United States
as its biggest market.
About Zestra(R) and
FSI/AD
Zestra(R)
is a patented blend of natural oils clinically-proven in
double-blind placebo-controlled clinical trials in 276 women to
increase in a statistical significant manner the arousal, desire
and sexual satisfaction in FSI/AD women. To the Company’s
knowledge, Zestra(R) 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 or larger
than the market for erectile dysfunction in males, and possibly
larger.
Approximately
43% of women in the United States age 18 to 59, or ~50 million,
experience some form of Female Sexual Dysfunction
(“FSD”) according to a published study. (Laumann, E.O.
et al. Sexual Dysfunction in the United States: Prevalence and
Predictors. JAMA, Feb. 10, 1999. vol. 281, No. 6.537-542) and
(http://www.indexmundi.com/south_korea/demographics_profile.html).
The FSD market in the United States is estimated to be more than $1
billion per year. For more information on Zestra(R) visit
www.zestra.com.
About
Innovus Pharmaceuticals, Inc.
Headquartered
in San Diego, Innovus Pharma is an emerging over-the-counter
(“OTC”) consumer goods and specialty pharmaceutical
company engaged in the commercialization, licensing and development
of safe and effective non-prescription medicine and consumer care
products to improve men’s and women’s health and
vitality and respiratory diseases. Innovus Pharma delivers
innovative and uniquely presented and packaged health solutions
through its (a) OTC medicines and consumer and health products,
which we market directly, (b) commercial partners to primary care
physicians, urologists, gynecologists and therapists, and (c)
directly to consumers through our on-line channels, retailers and
wholesalers. The Company is dedicated to being a leader in
developing and marketing new OTC and branded Abbreviated New Drug
Application (“ANDA”) products. The Company is actively
pursuing opportunities where existing prescription drugs have
recently, or are expected to, change from prescription (or Rx) to
OTC.
For
more information, go to www.innovuspharma.com,
www.zestra.com;
www.ejectdelay.com;
www.myvesele.com;
www.sensumplus.com;
www.myandroferti.com;
www.fluticare.com;
www.beyondhumantestosterone.com;
www.getbeyondhuman.com;
www.trybeyondhuman.com;
www.prostagorx.com
About
Densmore Pharmaceutical International
Densmore is based in Monaco and has been in operation since 1946.
Its research and development center has about 70 years of expertise
in vitamin therapy and micro-nutrition formulas. Since the early
2000's, Densmore has acquired new skills in drugs, medical devices
and cosmetics. It received two innovations and research awards for
the entire range. In addition to its presence in France, Densmore
is exported to many countries in Europe and north Africa.
Densmore’s aim is to make available to all, the medical
professions and patients, innovative products that combine safety,
security and easy to use to meet the health needs and well-being in
everyday life. See www.densmore.mc.
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, receiving patent protection for any
of its products, to successfully commercialize Zestra(R) and other
products in France, Belgium and in other countries in the European
Union, the U.S. and internationally and to achieve its other
development, 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, and other filings
made with the SEC. Copies of these reports are available from the
SEC's website or without charge from the Company.
# #
#
Contact:
James
S. Painter III
Emerging
Markets Consulting LLC
321-206-6681
jamespainter@emergingmarketsllc.com