TORONTO, ON--(Marketwired - November 07, 2016) - Easton Pharmaceuticals Inc. (OTC PINK: EAPH) and partner BMV Medica SA have received a preliminary proposal from a major multi-national pharmaceutical company for its regulatory approved, patented VagiSan (known as VS-Sense) woman’s diagnostic test Bacterial Vaginosis for Mexico and Ecuador. Negotiations with a second major pharmaceutical company for other Easton/BMV products has moved to contract phase.
The preliminary proposal comes after many months of negotiations and contains an upfront financial consideration for the Mexican Marketing Authorization, which was received in September. The proposal was received from a major, multi-national pharmaceutical company who possess products and sales in over 90% of the markets throughout the world and who understands the sales growth opportunities in Mexico and other parts of Latin America, which are some of the fastest growing territories in the world. The proposal is for the distribution of Easton / BMV’s patented VagiSan (VS-Sense) women’s diagnostic test through OTC (over the counter) channels. VagiSense (VS-Sense) is the same product Bayer Pharmaceuticals had licensed and launched in late 2015 in Europe under its brand, Canestest. Prestige Distribution is currently selling throughout the US under its brand, Monistat, with multi-million dollars in sales and growing. Due to population and demographics, Easton and others believe sales in Mexico and other Latin American countries including its recently announced distribution agreement with Windsor Pharmaceuticals can match and possibly exceed current sales in Europe and North America. Easton is unable to disclose any names at this point in time until a definitive agreement is executed but will provide updates as they become available.
Other News Developments
Easton Pharmaceuticals is also pleased to announce it has moved to contract phase with a second large Pharmaceutical company for other products held by Easton / BMV, following negotiations had throughout the past year.
Easton will shortly disclose positive updates regarding its Paclitaxel and Docetaxel cancer drug licensing initiatives for Mexico and possibly other Latin American markets which it secured rights to last year.
Easton is also announcing it has initiated negotiations and will be forwarding a proposal to acquire an ownership interest in an Ontario, Canada based medical marijuana company who have received a letter to build and are in the late stages under the MMPR system in Canada. Medical Marijuana has taken a positive step forward after the federal liberal government in Canada recently announced plans to legalize recreational medical marijuana use throughout the country of Canada, which is expected to be implemented in the spring of 2017.
Products Portfolio Overview
VagiSense (VS-Sense): is the current brand name of the BV (Bacterial Vaginosis) patented diagnostic test, planned for launch in Mexico and other larger markets in Latin America, but may be renamed depending on the outcome of partner discussions with multi-national pharmaceutical companies, initiated in late 2015 and early 2016. VagiSense (VS-Sense) is the same product Bayer Pharmaceuticals had licensed and launched in late 2015 in Europe under its brand, Canestest. Prestige Distribution is currently selling in the US under its brand, Monistat, with multi-million dollars in sales and growing.
Gynofit: European-Union approved natural treatment for Bacterial Vaginosis (BV), potentially eliminating the use of antibiotics in women with BV and promoting optimal vaginal health. BV is expected to affect the vast majority of women at some point in their lives. Easton/BMV are working toward a January 2017 launch with a multi-national Pharma partner.
AmnioSense (Al-Sense): patented amniotic fluid leak test will be marketed in two presentations to capture maximum market, and is a unique Point-of-Care diagnostic panty liner for women in late-stage pregnancy able to distinguish between urine and amniotic fluid (breaking of water).
In parallel, Easton/BMV expects to finalize discussions for Mexican Sales & Distribution with a multinational Pharma Company specialized in Women’s Health for launch in January / February of 2017. The lucrative Mexican market alone is eight times that of Central America.
Regulatory status: In Mexico all three products have been approved for sale in Mexico, so no delays are expected for launch once the Distribution Agreements are finalized.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical device and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton has partnered with BMV Medica and together own the exclusive distribution rights in Mexico and Latin America for patented women’s diagnostic products and two generic cancer drugs. Easton has made additional investments in the medical marijuana industry through AMFIL Technologies, a company involved in medical marijuana and other industries as well as advancing funds towards another Canadian medical marijuana initiative who has received a letter to build under the MMPR system in Canada. The company’s gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of other drugs and Cannabidiol extracts.
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Safe Harbor
This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The “Act”). In particular, when certain words or phrases such as “hope”, “positive”, “anticipate,” “pleased,” “plan,” “confident that,” “believe,” “expect,” “possible” or “intent to” and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals would be classified as speculative and may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company’s products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals, both domestic and foreign, or changes to proposed laws and other risks and uncertainties further stated in the company’s financial reports and filings.
Evan Karras
Tel: +1(416) 619-0291
Tel: +1(347) 284-0192
Email: info@eastonpharmaceuticalsinc.com
