26 Mar 2018 07:00
Update on US distribution of Silhouette Instalift™
and notice of full year results
London, 26 March 2018. Further to the announcement on 22 February 2018 regarding the termination of the contract with ThermiGen LLC ("Thermi"), Sinclair Pharma plc (AIM:SPH.L) ("Sinclair" or the "Group") confirms it will regain the full US distribution rights for Silhouette InstaLift™, Silhouette Refine™ and Silhouette Lift® on 31 March 2018.
Sinclair is in advanced discussions to secure a new distribution agreement for Silhouette Instalift™ in the US and Sinclair expects to conclude these discussions in the coming weeks. As previously announced, Sinclair has agreed to buy back Thermi's remaining inventory and from 31 March 2018 interim measures have been put in place to supply customers until such time as the alternative arrangement has been agreed.
Sinclair also announces it is in advanced discussions for an extended debt facility which management expects to provide greater flexibility than the current arrangement and will provide the Group with additional cash resources at a more competitive rate than the existing facility.
Sinclair intends to report its full year results for the year ended 31 December 2017 on 30 April 2018 which will be accompanied by an update on the Group's US strategy.
Ends
For further information please contact:
Sinclair Pharma plc | Tel: +44 (0) 20 7467 6920 |
Chris Spooner | |
Alan Olby | |
Andy Crane |
Peel Hunt LLP (NOMAD and Joint Broker) | Tel: +44 (0) 20 7418 8900 |
James Steel | |
Oliver Jackson |
RBC Capital Markets (Joint Broker) | Tel: +44 (0) 20 7653 4000 |
Marcus Jackson | |
Laura White |
Media enquiries
FTI Consulting | Tel: +44 (0) 203 727 1000 |
Ben Atwell | |
Brett Pollard | |
Stephanie Cuthbert |
Notes to Editors:
About Sinclair Pharma plc - www.sinclairpharma.com
Sinclair Pharma plc is an international company operating in the fast growth, high gross margin, global aesthetics market. Sinclair has built a strong portfolio of differentiated, complementary aesthetics technologies, which are experiencing significant growth, targeting unmet clinical needs for effective, high quality, longer duration, natural looking and minimally-invasive treatments. Sinclair is planning entry to multiple new geographic markets and line extension launches over the next few years. The Group has an established sales and marketing presence in the leading EU markets and Brazil, and a network of international distributors.
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward‐looking statements, as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward‐looking statements due to a variety of factors.