Last checked at 7 Jul 2014 07:00
Venture Life Group plc
("Venture Life" or "the Group")
New distribution agreement signed with existing partner
Bracknell, UK - 7 July 2014: 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 a second long-term distribution agreement with an existing partner for the distribution rights to NeuroAge™ NRG and NeuroAge™ Sleep, the Group's two new line extensions for the NeuroAge™ range.
The agreement has been signed with Elpen who already own the distribution rights to NeuroAge™ in Greece and who launched NeuroAge™ in Greece in 2013. Market launch of NeuroAge™ NRG and NeuroAge™ Sleep in Greece is expected in Q1 2015.
This follows the announcement on 25 June 2014 that the Group had signed its first distribution agreement for NeuroAge™ NRG and NeuroAge™ Sleep with another existing partner, MedMen, covering distribution of the products in Romania and Moldova.
Jerry Randall, Chief Executive Officer of Venture Life, commented:
"We are delighted that Elpen has signed a further distribution agreement for the two new line extensions to NeuroAge. The signing of this agreement by Elpen is not only an endorsement of our product development strategy but it also reflects the strong start that NeuroAge has achieved in Greece since its market launch."
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For further information please contact:
Venture Life Group PLC
Jerry Randall, Chief Executive Officer
James Hunter, Chief Financial Officer +44 (0) 1344 742870
Square1 Consulting
David Bick
Mark Longson +44 (0) 20 7929 5599
JW Communications
Julia Wilson +44 (0) 7818 430877
Notes to editors
About Venture Life
Venture Life is an international consumer self-care company focused on developing, manufacturing and commercializing products for the ageing population.
The Group's range of branded products currently includes food supplements for maintaining brain function, dermatology products 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. The Group's own branded products are currently sold or partnered in over 40 countries.
The Group also has a healthy new product development pipeline including products in areas such as cholesterol reduction, diabetes, cardiovascular health, cognitive function and skin ageing. Products coming from the pipeline will be expected to have intellectual property protection and be supported by independent clinical evidence of efficacy.
Through its topical development and manufacturing business, Biokosmes, the Group also provides development and manufacturing services to companies in the medical device and dermatology sectors.
About NeuroAge™
NeuroAge™ is a food supplement formulated to help support alertness, cognitive function and mental performance in a healthy brain. The key components have been extensively studied and these studies show their action in supporting cognitive function.
About NeuroAge™ NRG and NeuroAge™ Sleep
NeuroAge™ NRG and NeuroAge™ Sleep are new additions to the NeuroAge™ range. As well as supporting cognitive function, NeuroAge™ NRG has been specially formulated to maintain alertness and NeuroAge™ Sleep helps to promote sleep and reduce the time taken to fall asleep.