Last checked at 25 Jun 2014 07:00
Venture Life Group plc
("Venture Life" or "the Group")
New distribution agreements signed with two partners
Bracknell, UK - 25 June 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 new long-term distribution agreements with two distribution partners. The agreements cover the distribution of four Venture Life products in three territories:
· NeuroAge™ NRG and NeuroAge™ Sleep signed with an existing partner in Romania and Moldova;
· ZipClear™ signed with a new partner in Turkey; and
· Calm-eze™ signed with a new partner in Turkey.
Following the recent completion of development by the Group of NeuroAge™ NRG and NeuroAge™ Sleep - two new line extensions for the NeuroAge™ range - a new long-term distribution agreement has been signed with MedMen for these products. MedMen already owns distribution rights for NeuroAge™ in Romania and Moldova and has now acquired the rights for NeuroAge™ NRG and NeuroAge™ Sleep for distribution, also in Romania and Moldova.
The acquisition of the rights to these two line extensions confirms the initial success of the market launch of NeuroAge™ in 2013 and the market launch by MedMen of the first line extension is expected in Q1 2015.
Distribution agreements have also been signed for ZipClear™ and Calm-eze™ with GM-BAY, a fast-growing and ambitious distribution company, for these products to be distributed in Turkey, and market launch is expected in Q1 2015, following registration. Following the successful first commercialisation of Procto-eze™, Immobilice™, and Guma-eze™, announced on 23 April 2014, the commercialisation of ZipClear™ is further evidence of tangible synergies arising from the Biokosmes acquisition, which completed earlier in 2014.
Jerry Randall, Chief Executive Officer of Venture Life, commented:
"We are delighted that one of our existing distribution partners has signed a further distribution agreement for new line extensions from our expanding pipeline so soon after the completion of development. We believe that this is an endorsement of our product development strategy and reflects the success of the market launch of the NeuroAge™ brand in late 2013. The new distribution agreement for ZipClear™, a product that was originally developed by Biokosmes, demonstrates further benefits from our recent acquisition. Venture Life continues to grow the commercial partner base for its products and will continue to commercialise products from the Biokosmes portfolio, in line with its stated strategy."
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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 product range and pipeline currently include 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.
Through its manufacturing company, Biokosmes, the Group also provides development and manufacturing services to companies in the medical device and cosmetic sectors.
The Group's own branded products are currently sold or partnered in over 40 countries and currently include:
· food supplements to maintain brain function and memory;
· dermo-cosmetics for addressing the signs of skin ageing and hair loss, and
· medical devices for improving conditions such as minor aches and pains, dry eyes and itchy skin.
The Company has a healthy development pipeline including products in areas such as diabetes, cardiovascular health, obesity, 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.
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.
About ZipClear™
ZipClear™ helps to relieve symptoms associated with herpes simplex virus type 1 (otherwise called cold sores) commonly appearing around the mouth and lip area. ZipClear™ creates an invisible barrier to protect and soothe against symptoms of irritation and burning sensations. It helps to prevent the virus from spreading and helps keep the affected area clean.
About Calm-eze™
Calm-eze™ is indicated for the rapid relief of dry, itchy skin, a common problem amongst the ageing population. It is a non-greasy emollient expertly formulated with a triple action effect to cool, soothe and calm itchy skin, as well as to keep it hydrated.