SAN DIEGO, CA / ACCESSWIRE / September 3, 2015 / Innovus Pharmaceuticals, Inc., ("Innovus Pharma" or the "Company") www.innovuspharma.com (OTCQB: INNV)
a company focusing on the commercialization of over-the-counter ("OTC")
and consumer products for men's and women's health, vitality and
respiratory diseases announced today that its partner Orimed received the first commercial shipment of EjectDelay(R) sold as Uxor(TM) for the Canadian market.
Dr. Bassam Damaj, President & Chief Executive Officer of Innovus Pharma, commented, "We are excited to have completed the first product shipment of EjectDelay(R) to Canada. The product will be sold under the Uxor(TM) name. With the commercial availability of Uxor(R) in Canada, Orimed is in a position to finalize its launch activities in an effort to be the first EjectDelay(R) commercial launch outside the United States and to offer to the
Canadian patients a safe and efficacious on demand topical treatment for
men with premature ejaculation."
In September 2014, Innovus and Orimed entered into an exclusive license agreement to market EjectDelay(R), Zestra(R), Zestra Glide(R) and Sensum+(R) in Canada. EjectDelay(R) received its Product License approval by Health Canada in December 2013. Under the agreement, Innovus
received an upfront payment and is eligible to receive up to
approximately $94.5 million Canadian dollars upon and subject to the
achievement of sales milestones based on cumulative gross sales in
Canada by Orimed plus certain double-digit tiered royalties based on Orimed's cumulative net sales in Canada.
As of today, Innovus has signed multiple commercial partners for its EjectDelay(R) product in multiple countries including:
1. Orimed in Canada
2. Ovation Pharma in Morocco
3. Tabuk Pharma in the MENA region
4. Elis Pharma in Turkey and select other countries
5. Oz Biogenics in Myanmar and Vietnam
About EjectDelay(R) and Premature Ejaculation
EjectDelay(R) is an
over-the-counter ("OTC") U.S. Food and Drug Administration and Health
Canada compliant proprietary topical treatment containing the drug benzocaine
and indicated for treatment of premature ejaculation. The drug
typically works within minutes of application to the glans.
In clinical trials, the application of benzocaine has been shown to delay premature ejaculation by several minutes.
For more information visit www.ejectdelay.com and www.uxor.ca
Premature ejaculation ("PE") is the most common sexual dysfunction
reported by men but is still under-diagnosed and under-treated. PE can
happen at any age and its prevalence is consistent across all ages. In
an article in The Journal of Sexual Medicine in 2007 Sex Med 2007, D.L.
Patrick, D. Rowland and M. Rothman
state, "Global studies consistently report that 20-30% of men experience
PE worldwide. This means that PE is experienced at similar rates
across the globe."
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma
is an emerging leader in OTC and consumer products for men's and
women's health and vitality. The Company generates revenues from its
lead products Zestra(R) for female arousal and EjectDelay(R) for premature ejaculation and has a total of five marketed products in this space, including Sensum+(R) for the indication of reduced penile sensitivity, (for sales outside the U.S. only), Zestra Glide(R), Vesele(R) for promoting sexual and cognitive health, Androferti(R) (in the US and Canada) to support overall male reproductive health and sperm quality and eventually FlutiCare(TM) OTC for Allergic Rhinitis, if its ANDA is approved by the U.S. FDA.
For more information, go to www.innovuspharma.com, www.zestra.com; www.ejectdelay.com; www.myvesele.com; www.sensumplus.com; www.myadroferti.com
Innovus Pharma's Forward-Looking Safe Harbor
Statements under the Private Securities Litigation Reform Act, as
amended: with the exception of the historical information contained in
this release, the matters described herein contain forward-looking
statements that involve risks and uncertainties that may individually or
mutually impact the matters herein described for a variety of reasons
that are outside the control of the Company, including, but not limited
to, receiving patent protection for any of its products, receiving
approval or to be compliant with the requirements of any relevant
regulatory authority relating to such products such as EjectDelay(R),
to successfully commercialize such products in Canada and in other
countries and regions, and to achieve its other development,
commercialization, financial and staffing objectives. Readers are
cautioned not to place undue reliance on these forward-looking
statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read
the risk factors set forth in the Company's most recent annual report on
Form 10-K, subsequent quarterly reports filed on Form 10-Q and other
filings made with the SEC. Copies of these reports are available from
the SEC's website or without charge from the Company.
Contact:
Reuven Rubinson
Vice President of Finance
rreubinson@innovuspharma.com
858.964-5123
SOURCE: Innovus Pharmaceuticals, Inc