Innovus Pharma signs exclusive license and distribution agreement with Bio Task for Malaysia
Friday, December 04, 2015
Innovus Pharmaceuticals, Inc., announced it has entered into an exclusive license and distribution agreement with Bio Task SND BHD, a Malaysia company ("Bio Task"). Pursuant to the agreement, Innovus Pharma granted to Bio Task an exclusive license to market and sell Innovus Pharma's products: Zestra®, Zestra Glide®, EjectDelay®, Sensum+® and Vesele® in Malaysia. Under the agreement, Innovus Pharma will receive an upfront payment and is eligible to receive up to $34 million dollars in sales milestone payments plus an agreed-upon transfer price.
Bassam Damaj, President and Chief Executive Officer of Innovus Pharma commented, "We are very excited about this major commercial partnership collaboration with Bio Task for our products. We believe that these types of products are in high demand in Malaysia and are expected by Bio Task to be very competitive as the "first in class product" in their fields in Malaysia. Bio Task visits all 850 gynecologists in Malaysia and we believe it is a great partner to introduce our products to this country. This partnership is the eleventh commercial partnership for the Company and its products. One of our goals for 2015 was to sign commercial partnerships for the sale of our products in 40 countries, and I am very proud of our team at Innovus to have bypassed our goal so far with the signing of partnerships in 61 countries."
The products included are
1) Zestra® for increasing arousal and desire in women which is currently commercialized in the US and in Canada by Orimed Pharma, in the United Kingdom by Tramorgan, Middle East and Africa by Sothema Labs, Myanmar and Vietnam by Oz Biogenics, Turkey by Elis Pharma and select European countries by Danalife.
2) EjectDelay® for treating premature ejaculation which is currently commercialized in the U.S. by Innovus and in Canada under the name "Uxor™" by Orimed Pharma. It is partnered in Morocco by Ovation Pharma, in the rest of the Middle East and North Africa by Tabuk Pharma, in Myanmar and Vietnam by Oz Biogenics and in Turkey by Elis Pharma.
3) Sensum+® for increasing penile sensitivity is currently commercialized in the U.S by CRI and the UK by Tramorgan and in Morocco by Ovation Pharma. It is partnered in the Middle East and North Africa by Tabuk Pharma, in Myanmar and Vietnam by Oz Biogenics and in Turkey by Elis Pharma.
4) Vesele® for increasing sexual and cognitive health is currently commercialized in the U.S. by Innovus, in the U.K. by Tramorgan. It is partnered in Myanmar and Vietnam by Oz Biogenics, in Turkey by Elis Pharma and in the Middle East and North Africa by Tabuk Pharma.
5) Zestra Glide® is currently commercialized in the U.S., in Canada by Orimed Pharma, in the Middle East and Africa by Sothema Labs. It is partnered in Myanmar and Vietnam by Oz Biogenics and in Turkey by Elis Pharma.
innovuspharma.com
