Last checked at 31 Mar 2016 07:00
Venture Life Group PLC
("Venture Life" or the "Company")
First long term distribution deals on the new Benecol 'once a day' liquid sachet
Bracknell, UK - 31st March 2016: Venture Life Group PLC (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, announces that it has signed two long term distribution deals for its newly developed Benecol once-a-day liquid sachet. The active ingredient in the Benecol products, plant stanol ester, has been clinically proven to reduce LDL cholesterol. The sachet has been developed by Venture Life under Benecol licence from Raisio Group.
1. Turkey - long term agreement for the distribution of the Benecol once-a-day liquid sachet. The partner is a well-established company distributing into the pharmacy channel in Turkey. The sachet will require registering in Turkey, and will be launched in the market as soon as registration approval is granted.
2. Jordan - long term agreement for the distribution of both the Benecol once-a-day liquid sachet and the Benecol capsules. The capsules had previously been registered in Jordan by the Group's former distribution partner there and the consumer launch is now expected to take place during 2016, whilst the sachet progresses through the registration process.
Jerry Randall, Chief Executive Officer of Venture Life, commented: "I am delighted that we have concluded distribution agreements for our new Benecol once-a-day liquid sachet in these two important territories. We initially developed the Benecol capsules in 2014 and the successful development of our innovative liquid sachet format now gives our distribution partners the opportunity also to sell a once-a-day product that is expected to achieve better compliance with consumers. Like the capsules, the sachet has a two year shelf life and will be marketed through the pharmacy channel. The development of the sachet shows the ability of Venture Life to rapidly develop and bring to market innovative products that meet consumer needs. The Benecol products have been developed by Venture Life under licence from Raisio Group."
For further information please contact:
Venture Life Group PLC
Jerry Randall, Chief Executive Officer +44 (0)1344 742 870
James Hunter, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated Adviser and Broker) Freddy Crossley +44 (0) 20 7886 2500
Peter Steel
Duncan Monteith Corporate Finance
Tom SalvesenCorporate Broking
Square1 Consulting
David Bick +44 (0)20 7929 5599
Brian Alexander
About Venture Life
Venture Life is an international consumer self-care company focused on developing, manufacturing and commercialising products for the ageing population. The Group's product range and pipeline currently includes food supplements for lowering cholesterol and maintaining brain function, dermo-cosmetics for addressing the signs of ageing, and medical devices for improving minor aches and pains, dry eyes and itchy skin. The products, which typically are recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies supplied by the Group's international distribution partners.
About Benecol
The Benecol® ingredient is the innovation of Raisio Group. Benecol products are available in some 30 countries. The efficacy and safety of the Benecol ingredient plant stanol ester has been verified in more than 70 published clinical trials. The sachet has been developed by Venture Life under licence from Raisio Group to develop and commercialise Benecol in certain forms of food supplement in certain territories. The capsules and sachet will be registered as food supplements.