TORONTO, Feb. 1, 2018 /CNW/ - Delivra Corp. (TSXV: DVA - "Delivra" or the "Company") announced today that it has signed a non-exclusive distribution agreement with NKS Health Ltd. ("NKS"), granting NKS the right to compound, distribute, promote, market and sell new unique pharmaceutical compounded product formulas developed by Delivra. The goal of the agreement is to build a partnership to both grow awareness and increase volume of sales for the Company's pharmaceutical pipeline.
NKS will promote Delivra's cream-base therapeutics to physicians, hospitals and clinics in Canada through its network. Delivra has developed a suite of compounded products for pain, anxiety and diabetic foot ulcers. These products include: cannabis-like molecules (nabilone), opioids (buprenorphine), celebrexTM, neuropathic molecules like gabapentin for nerve related pain and the antibiotic doxycycline for diabetic foot ulcers. The agreement is effective until December 2019.
"This agreement is consistent with our strategy to repurpose existing and globally accepted pharmaceutical drugs for new indications using our proprietary transdermal technology platform through an expanded network. Pharmacy compounding, a multi-billion-dollar industry, is the formulation of personalized medications into topical creams for patients. At Delivra, we took this significant opportunity and we have formulated an innovative cream-base therapeutic, better known as the new class of topical delivery system platform. Unlike other topical delivery platforms, Delivra's emollient bases are targeted, specific and safe. We have already received many favorable case studies from both patients and clinicians with the use of these multiple actives, without the usual significant side-effects that are common with oral medication," said Dr. Joseph Gabriele, CEO of Delivra. "This agreement is a significant step to extend the benefits of Delivra's prescription products to a greater number of patients in Canada. In addition to our leading diabetic neuropathy product sold under the LivReliefTM Nerve Pain Cream brand in pharmacies across Canada, our technology can create a strong suite of prescription treatment options for diabetes, chronic pain and anxiety. We believe that NKS speciality pharmacy is a perfect partner as they have a great breadth of physicians in areas of pain-related disorders like rheumatologists, neurologists and physiatrists."
As our population is aging exponentially and deals with a number of chronic illnesses that require medication, demand for compounded pharmaceuticals has risen significantly. More specifically, patients have used compounded prescriptions to access medications in alternative dosages, routes of administration, and ingredients (due to patient allergies), versus pharmaceutical pill formatted drugs that were commercially available. In addition, the shortage or termination of prescriptions from drug manufacturers' product portfolio has stimulated demand for compounded prescriptions. According to the Pharmaceutical Research and Manufacturers of America, approximately 3.6 billion prescriptions are dispensed in the United States each year. The US Pharmacopeia Convention estimates that 30 million to 40 million of those prescriptions are compounded medications. Over the past five years, numerous trends have increased patient utilization rates of compounded medications.
ABOUT DELIVRA CORP.
Delivra Corp. is a specialty biotechnology company that has a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules through the skin, in a targeted specific manner. Delivra manufactures and sells a growing line of natural topical creams with the proprietary transdermal delivery system platform under the LivReliefTM brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and under the LivSportTM brand for sports performance. LivReliefTM products are available in pharmacies, grocery chains, and independent health food stores across Canada, including, but not limited to, Shoppers Drug Mart, Walmart, Loblaw, Rexall, Pharmasave, London Drugs, and on-line at www.livrelief.com. In parallel with its consumer products business, Delivra also has a mandate to license its patent-pending, proprietary transdermal delivery technology platform to pharmaceutical companies globally, for the repurposing of pharmaceutical molecules transdermally to treat a broad range of conditions, along with licensing its over-the-counter products globally. Delivra is headquartered in Hamilton, Ontario and has a research and development laboratory in Charlottetown, PEI.
ABOUT NKS HEALTH LTD
NKS Health is a specialty pharmacy including personalized compounding medications, in home training – medication reviews and counselling, nutrition and supplementation expertise, compliance services, insurance/third party coverage/government plans; tailored prescription forms & easy ordering forms and high-level customer service delivery. NKS Health focuses on several core areas: biologic medications, therapeutic use of botulinum toxin, pain management, bone density, migraine, multiple sclerosis, HIV and hepatitis. NKS Health offers the highest level of customer service – our dedicated team of customer service personnel ensure accurate and timely delivery of medications to hospitals, clinics and patients throughout Canada with locations in satellite Toronto, London and Ottawa. NKS Health offers new levels of support for physicians and patients with "point of care" active drug level testing, as well as inflammation marker testing to help physicians monitor a patient's response to their medications.
Further information on NKS can be found at www.nkshealth.ca.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute "forward-looking statements", which are not comprised of historical facts. Forward-looking statements may be identified by such terms as "believes", "anticipates", "intends", "expects", "estimates", "may", "could", "would", "will", or "plan", and similar expressions. Specifically, forward-looking statements in this news release include, without limitation, statements regarding: the Company's drug research and development plans; the timing of operations; and estimates of market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of Delivra to differ materially from those anticipated or implied in such forward-looking statements. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management's expectations. In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting Delivra will continue substantially in the ordinary course and will be favorable to Delivra, that clinical testing results will justify commercialization of the Company's drug candidates; that Delivra will be able to obtain all requisite regulatory approvals to commercialize its drug candidates, that such approvals will be received on a timely basis, and that Delivra will be able to find suitable partners for development and commercialization of its products and intellectual property on favourable terms. Although these assumptions were considered reasonable by management at the time of preparation, they may prove to be incorrect. Factors that may cause actual results to differ materially from those anticipated by these forward-looking statements include: uncertainties associated with obtaining regulatory approval to perform clinical trials and market products; the need to establish additional corporate collaborations, distribution or licensing arrangements; the ability of the Company to generate sales and profits; the Company's ability to raise additional capital if and when necessary; intellectual property disputes; increased competition from pharmaceutical and biotechnology companies; changes in equity markets, inflation, and changes in exchange rates; and other factors as described in detail in Delivra's public filings, all of which may be viewed on SEDAR (www.sedar.com). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, Delivra disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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.
SOURCE Delivra Corp
For further information: Dr. Joseph Gabriele, Chief Executive Officer, 905-561-5014; or Investor Relations: Joanna Longo, [email protected], 416-238-1414 x 233