SAN DIEGO--(BUSINESS WIRE)--Innovus Pharmaceuticals, Inc., (“Innovus Pharma” or the “Company”) (OTCQB Venture Market:INNV) an emerging commercial stage pharmaceutical company delivering over-the-counter medicines and consumer care products for men’s and women’s health and respiratory diseases, announced today an exclusive licensing agreement with Seipel Group (SG) for the rights to market Urox® Formulation using the Company’s Beyond Human Platform.
“This will be our 14th product that Innovus will launch before the end of the year and we expect it to be a contributor to our growing revenues”
Urox® is a specialized patented herbal supplement. It has been clinically proven to reduce urinary urgency, accidents and both day and night frequency in Overactive Bladder (OAB) and Urinary Incontinence (UI) patients. Innovus will market the product under the name UriVaRx™ using its Beyond Human Platform.
Under the exclusive agreement, Innovus Pharma will pay SG an upfront payment and will commit to a yearly supply of product. Innovus Pharma’s marketing goal is to triple the sales of the supplement from $1 million in 2015 to close to $3 million per year.
Urox® has undergone multiple double blind and comparative trials in both male and female OAB and UI patients. The clinical results include:
- Reduction of ~56% in Urge Incontinence
- Reduction of ~66% in Stress Incontinence
- Reduction of ~61% in Urinary Urgency
- Reduction of ~33% in Urinary Frequency meaning the total average urinary frequency was in the normal/ideal range after two months of use
- Reduction of ~46% in Nocturia
The immediate benefits to Innovus Pharma of the Urox® transaction include:
- The expectation of tripling the product’s annual revenues to close to $3.0 million
- Moving the Company faster to profitability
- Offering the product to Innovus Pharma’s over 1.5 million current subscribers and users of its current products
“This will be our 14th product that Innovus will launch before the end of the year and we expect it to be a contributor to our growing revenues,” said Dr. Bassam Damaj, President & CEO of the Company.
“Overactive Bladder and Urinary Incontinence are major medical issues that affect millions of people in the US and around the world and we believe it is important to offer a natural, yet clinically tested alternative,” continued Dr. Damaj.
“We invested years of research and clinical trials for our Urox® product and we chose Innovus Pharma to launch the product under UriVaRx™ due to their strong direct-to-consumer marketing using their Beyond Human Platform,” said Dr. Tracey Seipel, Managing Director of SG.
According to the Simon Foundation, Urinary Incontinence affects 26 million Americans with a total market size of $1.1 billion (Source: Medical Devices Inc.).
The NAFC (National Association for Continence) estimated that over 33 million Americans suffer from Overactive Bladder with a market size over $2.1 billion (Source: IMS Health).
The active ingredients in UriVaRx™ are CratevoxTM stem bark, Horsetail herb, and Lindera aggregata root.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging leader in OTC and consumer products for men’s and women’s health and vitality. The Company generates revenues from its lead products (a) BTH® Testosterone Booster, (b) BTH® Human Growth Agent, (c) Zestra® for female arousal and (d) EjectDelay® for premature ejaculation and has an additional five marketed products in this space, including (e) Sensum+® to help with reduced penile sensitivity, (f) Zestra Glide®, (g) Vesele® for promoting sexual health, (h) RecalMax™ for promotion brain and cognitive health, (i) Androferti® (in the US and Canada) to support overall male reproductive health and sperm quality, (j) BTH Vision Formula, (k) BTH Blood Sugar, among others and eventually FlutiCare™ OTC for Allergic Rhinitis, if its ANDA is approved by the U.S. FDA.
For more information, go to www.innovuspharma.com, www.zestra.com; www.ejectdelay.com; www.myvesele.com; www.sensumplus.com; www.myandroferti.com; www.beyondhumantestosterone.com; www.getbeyondhuman.com; www.trybeyondhuman.com; www.recalmax.com; www.urivarx.com.
Innovus Pharma’s Forward-Looking Safe Harbor:
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, projected revenues from the UriVaRx™ product, projected online subscribers, estimated market for its products, and statements about achieving its other development, growth, commercialization, financial and staffing objectives. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC’s website or without charge from the Company.
Chesapeake Group
Kevin Holmes, 410-825-3930
info@chesapeakegp.com
