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8-K - FORM 8-K - INNOVUS PHARMACEUTICALS, INC. | innv8k_may172017.htm |
Exhibit 99.1
Innovus Pharma Signs Exclusive License and Distribution
Agreement
with Luminarie in Australia, New Zealand and the Philippines for
Zestra® for Female Sexual Arousal Disorder and Zestra
Glide® for Female Lubrication
San
Diego, Calif., May 22, 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
Luminarie Pty Ltd (“Luminarie”), a company based in
Australia for the commercialization of Zestra®
and Zestra Glide® in Australia, New
Zealand and the Philippines.
“Part of our plan to increase revenues from our international
distributors is to expand into the Asia-Pacific region,” said
Innovus Pharma CEO, Dr. Bassam Damaj. “We are very happy to
be teaming-up with Luminarie in Australia, New Zealand and the
Philippines to market our Zestra® and Zestra Glide®
products. Luminaire is now our 16th distribution
partner for our products outside the United States and we look
forward to expanding our sales into these important countries with
them,” continued Dr. Damaj.
“We
are delighted to be working with Innovus Pharma on the
commercialization of their Zestra® and Zestra Glide®
products into Australia, New Zealand and the Philippines,”
said Hemant Gulhane, CEO of Luminarie. “We love the fact that
these products represent a well-known brand with extensive clinical
trials. We believe each product will be well received in these
countries and will meet a large unmet patient
need.”
About Zestra®
Zestra®
is currently exclusively partnered with Orimed Pharma, the OTC
subsidiary of Jamp Pharma in Canada, Densmore Pharmaceutical
International in France and Belgium, 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®
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®: Canada, Morocco, South
Korea, certain European countries and Hong Kong in addition to the
United States as its biggest market.
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 statistical significant manner the arousal, desire
and sexual satisfaction in FSI/AD women. To the Company’s
knowledge, 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 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®, please
visit www.zestra.com.
About Zestra Glide®
Zestra Glide® is currently exclusively partnered with Orimed
Pharma in Canada, Sothema Labs in the Middle East and North Africa,
Elis Pharma in Turkey and certain select markets, Oz Biogenics in
Myanmar and Vietnam, and KLabs in India.
Zestra Glide® is currently approved in 32 countries and
marketed and sold in three countries, including the United States,
Canada and Morocco.
About Zestra Glide® and the Lubricant Market
Zestra Glide® is the only water-based clinically tested
lubricant with high viscosity. Increased viscosity usually
translates into longer effects. The lubricant market is estimated
to be around $200 million in the U.S. (Symphony IRI Group Study,
2012). For more information on Zestra
Glide®, please visit www.zestra.com/glide.
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 Luminarie Pty Ltd
Luminarie
is an innovative healthcare company, operating in Australia, New
Zealand, the Philippines, China and Canada, bringing to market new
unique products within the consumer healthcare and pharmaceutical
space. With an experienced team of pharmaceutical industry
professionals, Luminaire is building a portfolio of brands
that consumers will come to recognize and love.
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®, Zestra
Glide® and other products in Australia, New Zealand and the
Philippines 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 filing on Form S-1, 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.
# #
#
Contact:
James
S. Painter III
Emerging
Markets Consulting, LLC
Tel: +1
321-206-6681
jamespainter@emergingmarketsllc.com