Venture Life Group: New UltraDEX Distribution Partner
Venture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, announces the signing of a new long term distribution agreement for its UltraDEX range across four new markets. In addition to this, the European Patent Office has granted an EU patent over the UltraDEX sensitive range, and a patent application is now pending on the new MycoClear product for onychomycosis.
Venture Life announces it has entered into a partnership with Karo Pharma AB (Sweden), a publicly listed company for its UltraDEX range of products. This long term distribution agreement covers Norway, Sweden, Denmark and Finland. This marks the start of a collaboration between both parties as Venture Life continues to grow the brand internationally and build on the success the Group is seeing in the UK market with the UltraDEX brand.
Peter Blom, CEO of Karo Pharma AB said: “We are delighted to partner with Venture Life and we look forward to sharing the success they have seen in the UK market, in the Nordic region in the coming years.”
The Company also announces that it has received notification from the European Patent Office that it has been granted a patent for the UltraDEX Sensitive range across Europe. The UltraDEX Sensitive product is specifically designed for users who experience increased tooth sensitivity. This patent adds to the existing portfolio of patents granted for this product covering the USA, Japan, Mexico, Indonesia, Australia and New Zealand.
CEO Jerry Randall, said:
“Karo Pharma AB becomes our latest international partner for the UltraDEX brand and we are delighted to partner with such a well- established public company in four new markets. The extension of our patent portfolio into Europe also strengthens the brand’s value and opportunity for further international partner opportunities.”
Venture Life also announces that it has filed a patent with the Italian Patent Office on its new MycoClear product for Onychomycosis (fungal nail infection). MycoClear has been developed to deal with both the aesthetic issue of the condition and the underlying infection, which causes discoloured, misshapen nails on both the hands and feet. The European market alone for Onychomycosis products is €85m and this product brings innovative design to an area where current products often have low levels of efficacy. As previously announced, the product is already approved as a Class IIa medical device and since that approval, the Company has begun a clinical programme to strengthen the package of data around this product. Early indications from potential partners show a high level of interest in MycoClear and the Company expects to see partnering deals from this product in the next twelve months.
Other International Developments
The Company has received registration approval in Jordan for Procto-eze cream and cleanser together with the new Benecol ‘once a day’ liquid sachet. The commercial launch for these products is expected late H2 2017/early H1 2018. Procto-eze is a highly absorptive light cleanser and cream for the treatment of anal irritation and Benecol®* ‘once a day’ liquid sachet has been developed for lowering LDL cholesterol. The Company has also signed a further two long term distribution agreements in Israel for Procto-eze and Vonalei with Taro Pharmaceutical Industries Ltd.
*Benecol is a registered trademark of Raisio Nutrition Ltd
Jerry Randall, said: “The Group made good progress in the first half of the year and I’m pleased to report on continuing partnership deals, patent and product approval activity. I am confident we have the right team in place to unlock the full potential of UltraDEX both domestically and internationally and also promote our other key products.”