North American expansion and committed funding to drive medium term growth.
LONDON, June 26, 2015 /CNW/ - Pro Bono Bio, the world's leading nanotechnology company offering health and lifestyle products, has launched its North American operations with headquarters based in Toronto, Canada and secured US$15M in funding to accelerate the global launches of FLEXISEQ™ and SEQUADERMA™ as well as help fund its ambitious research and development programs that continue to place Pro Bono Bio at the forefront of nanotechnology healthcare development.
In the last three years, Pro Bono Bio has successfully launched and grown FLEXISEQ™ and FLEXISEQ SPORT™ across the UK and other global markets including Europe, Asia and Africa where it has addressed the growing need for a highly effective, drug-free, topical biolubricant treatment for joint-pain due to osteoarthritis and sports injuries. Along with the FLEXISEQ™ product range, the company intends to launch its derma-cosmetic range of products, SEQUADERMA™, to treat a wide range of skin conditions that incorporate the same leading nanotechnology.
Entering the North American market represents a major international milestone for Pro Bono Bio in the company's pursuit of commercializing its innovative health and lifestyle products. Pro Bono Bio has recently appointed a North American CEO, Jason Flowerday, to build-out the North American operations and set its strategy for entering both the Canadian and US markets over the next three quarters. One of the first strategic decisions Pro Bono Bio took was the selection of Knight Therapeutics Inc. (TSX: GUD) as its distribution partner for some of its key products across parts of Canada and Israel and $15M in funding that Knight Therapeutics Inc. has injected into Pro Bono Bio.
John Mayo, Chairman and CEO of Pro Bono Bio, said "We are delighted to have Jason leading our launch into North America and to have quickly identified Knight Therapeutics as the preferred distribution partner in Canada as well as a strategic funding partner for our company that understands how investments in innovation drive business growth."
Pro Bono Bio will launch FLEXISEQ™, FLEXISEQ SPORT™ and SEQUADERMA™ as its lead product offerings into Canada and the US over the coming year and the company is already in active discussions with retailers to establish an extensive distribution network across each market. The osteoarthritis market alone affects over 30m adults in North America and over 1 billion people worldwide, while the skin care market in North America exceeds US$20B annually and each continues to grow year over year.
The agreement between Pro Bono Bio and Knight Therapeutics Inc. provides Knight Therapeutics Inc. with the immediate and exclusive distribution rights to FLEXISEQ™, FLEXISEQ SPORT™ and SEQAUDERMA within the province of Quebec and Israel, as well as the exclusive rights to Pro Bono Bio's pipeline of haematology and diagnostic device products across all of Canada and Israel.
Jonathan Ross Goodman, President and CEO of Knight Therapeutics Inc., commented that "We are thrilled to help fuel Pro Bono Bio's global expansion and we are excited by this new strategic partnership." Knight Therapeutics Inc. is a leading speciality pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets.
FLEXISEQ™ is a topically applied drug-free gel which is clinically proven to safely relieve the pain and improve the joint stiffness associated with osteoarthritis (OA). There is extensive clinical data available from a number of randomised, double-blind clinical trials and FLEXISEQ™ is approved as a medical device for the treatment of all joints affected by OA.
FLEXISEQ™ is unique - it lubricates your joints to address joint damage. Pain is relieved and joint function improved because it lubricates away the friction and associated wear and tear on a user's joints.
SEQUADERMA™ Dermatology Products are a unique range of active dermatology solutions specifically designed to address the symptoms and, in some cases, the causes of the targeted conditions, leading to reduced recurrence.
SEQUADERMA™ Dermatology Products are suitable for long term use and can be used on their own or in between drug treatments to reduce exposure to adverse events; they will not compromise any other medication and are suitable for those with multiple conditions.
About Pro Bono Bio:
Pro Bono Bio plc is the world's leading nanotechnology company offering health and lifestyle products, headquartered in London with presence in Europe, Africa and Asia and now launching in North America.
About Knight Therapeutics Inc.:
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutic Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.gud-knight.com or www.sedar.com.
Pro Bono Bio and Flexiseq are trademarks of the Pro Bono Bio Group.
SOURCE Pro Bono Bio Inc
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