ViaDerma, Inc. Announces Expansion of its Current Licensing Agreement and Provides Additional Company Updates
Dr. Chris Otiko will be traveling to Dubai this month to finalize a 10-year, $12 million contract
LOS ANGELES, June 02, 2021 (GLOBE NEWSWIRE) -- ViaDerma, Inc., (“Company”) (OTC Pink: VDRM), is pleased to announce they have expanded their current licensing agreement with a home health wound care network. Per the agreement, ViaDerma receives $5000 per month for each state in which the licensee is doing business. The licensee has just added two new states to the agreement increasing its total from six states to eight states. As a result of the two additional states ViaDerma’s royalties for the agreement will increase to $40,000 per month beginning this month. The licensee expects to double the current number of states to sixteen by year end. Based on that assumption, ViaDerma’s revenues would increase to $80,000 per month for this agreement, making the contract worth a minimum of $960,000 in annual revenues due in 2022.
Additionally, the Company is announcing their licensed wound care products will begin to be utilized in a treatment protocol which is part of a new nationwide limb salvage campaign aimed at decreasing the limb amputation rate among high-risk populations. This is expected to generate about $600,000 in annual revenues for ViaDerma which should begin within 90 days.
The Company is also announcing that later this month ViaDerma President, Dr. Chris Otiko will be traveling to Dubai for a June 25th meeting to finalize another licensing agreement. The contract is structured for a term of ten years and will be worth more than $12.5 million over the life of the agreement. The initial payment of $600,000 to ViaDerma will be due upon finalizing the agreement with another $600,000 payment expected by year end.
About ViaDerma, Inc.
ViaDerma, Inc. (OTC: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative technology to current leaders in the pharmaceutical industry in a wide variety of therapeutic areas. For more information, visit: www.viadermalicensing.com
Any forecast of future performance is a "forward looking statement" under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment.