MONTREAL, March 24, 2022 /CNW Telbec/ - Lumiera Health Inc. (TSXV: NHP) (the "Company" or "Lumiera "), a company specializing in the development and commercialization of natural health products, is pleased to announce the signing of a distribution agreement with Fideschem International Ltd., a Singapore-based company that will enable Awaye™ to access the Vietnamese market which has a population of approximately 100 million people and a pain relief market forecasted to grow at >11.24% annually for the foreseeable future.
"In addition to our recent announcements that the U.S. Food & Drug Administration (FDA) has published final registration of the Company's National Drug Code (NDC) allowing Awaye™ to be sold as an OTC drug across the US, a market of approximately 330 million people with a pain relief category of US$6 billion, we are working to further expand the market potential for Awaye™. We are very pleased to be working with the Fideschem team in the Vietnamese market which is a market of approximately 100 million people. Based on the market dynamics and the trend to more natural health products and natural pain relief products, the Fideschem team has forecasted tremendous success for Awaye™" says Carlos Ponce, CEO of Lumiera Health.
"We strongly believe that Awaye™ has the potential to capture significant market share in Vietnam. Awaye™ is perfectly positioned to leverage the growing demand for natural, non-addictive pain management solutions combined with consumer trust towards Canadian products." says Nguyen Minh Hieu, Managing Director at Fideschem International Ltd.
As a part of the agreement, Fideschem will first obtain and maintain all regulatory requirements to allow the sales of Awaye™ in Vietman and then manage all sales and marketing initiatives. Based on the regulatory process to commercialize health products in Vietnam, Fideschem and Lumeira forecast sales to begin in 12 months.
"Awaye™ truly is a great product that naturally helps people manage their pain, and we continue to receive positive feedback from people that are trying and buying Awaye™. With confidence and conviction in our product, we are executing our accelerated growth plans. We are still very early in our execution; we launched Awaye™ in April 2021 and we are seeing tremendous growth with limited distribution. We are focused on increasing market access, then building distribution and trial. In 12 months, with the launch in Vietman in addition to our distribution focus in Canada and the US, Awaye™ will be available to more the 465 million people. We look forward to continuing to expand distribution and to accelerate the number of people that try and buy Awaye™ within our rapidly growing market potential." says Carlos Ponce, CEO of Lumiera.
About Awaye™
Awaye™ provides a new generation of relief from acute and chronic pain by exploiting the CB2 receptors of the endocannabinoid system, the body's built-in pain and inflammation defense system. Awaye™ is a unique Health Canada approved topical cream that provides relief from pain through complimentary mechanisms of action not found in any other product currently available on the market.
For more information about Awaye™ products, visit www.awaye.ca
About Fideschem International Inc.
Singapore-based Fideschem International PTE Ltd is a private company whose specializes in the retail sale of pharmaceutical and medical products in Southeast Asia. It also provides trade support services such as import and export declarations, shipping authorization applications, and commercial registration applications. Their portfolio includes pharmaceutical finished formulations, medical devices, dietary supplements and cosmetics, distributed in Vietnam through their local company, Medpharm Pharma JSC.
About Lumiera Health
Lumiera specializes in the development and commercialization of consumer products for the natural health industry. The Company sells herbal tonics and natural supplements through its Holizen Laboratories division, with a diverse portfolio including a line of innovative sleep aids. The Company is also commercializing a unique topical product line acting on the endocannabinoid system, without the use of cannabis, that provides an innovative solution for chronic pain and inflammation. A pioneer in the natural health innovation space, the Lumiera brand is rooted in the core values of science, nature and compassion. Our goal is to make people's lives better by developing natural health and wellness products that are effective, safe and trustworthy.
For more information visit: www.lumiera.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions indicate such "forward-looking information" as they relate to Lumiera. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Lumiera' current views and intentions with respect to future events, and current information available to Lumiera, and are subject to certain risks, uncertainties and assumptions. Such risks and uncertainties include, among others, the risk factors included in Lumiera' annual management's discussion and analysis for the year ended November 30, 2021, which is available under the issuer's SEDAR profile at www.sedar.com. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Lumiera in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Lumiera does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Lumiera undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Related Links: www.lumiera.ca
SOURCE Lumiera Health Inc.
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