• POH signs a license agreement with Integrated Animal Health for access to the United Kingdom and the Republic of Ireland
• Integrated Animal Health to sign a distribution agreement with UK-based Denis Brinicombe Group
• Agreement is subject to the purchase of minimum quantities of TPM® and royalties.
25 March 2015, Melbourne: Australian drug delivery company, Phosphagenics Limited (ASX: POH; OTCQX: PPGNY), announced that it has granted Integrated Animal Health (IAH) a four year exclusive license to manufacture and sell animal nutrition products that incorporate the Company’s proprietary vitamin E phosphate technology (TPM®). The products, which will be marketed under IAH’s Feed-Mate™ brand, target reductions in the signs associated with mastitis in dairy cows, and are intended to decrease antibiotic use and increase the quality of milk. The products are also believed to provide general improvements to herd health associated with heat stress and fertility difficulties.
The license applies to the United Kingdom and the Republic of Ireland. IAH already has a licensing arrangement for these products in Australia and New Zealand.
IAH intends to appoint the Denis Brinicombe Group Pty Ltd as its distributor for these products. The Denis Brinicombe Group is a UK-based family company, and is a significant manufacturer and distributor of animal feed products in UK and Ireland.
IAH is required to purchase minimum quantities of TPM® annually to maintain exclusivity. The minimums in the first year of the launch total approximately $550,000 in revenue to Phosphagenics and they climb to around $1.8 million for the final year of the exclusivity arrangement. In addition to these minimum purchases, IAH is required to pay Phosphagenics royalties on sales to its distributor.
Phosphagenics and IAH have demonstrated in a number of trials that the use of TPM® in animal feeds imparts numerous benefits for animal health generally, and in the reduction of the symptoms of mastitis in particular. Rob Neely, CEO of IAH, said: “IAH has relocated and established its global headquarters in the USA. This deal with Phosphagenics is an important next step in IAH’s expansion. The deal represents the first agreement with Phosphagenics for animal health products for dairy cows outside of Australia and New Zealand. The distributor, Brinicombe Group is a prominent player in the animal health market in the UK. We have great confidence that this arrangement will contribute significant revenues to both IAH and Phosphagenics.”
Ross Murdoch, Phosphagenics’ CEO, said: “We are optimistic that the arrangements with IAH and UK industry specialist Denis Brinicombe Group will open the door to similar commercial agreements for other territories. This commercial arrangement is a tangible outcome of Phosphagenics’ strategy to actively exploit its technology for near-term revenue growth.”
Enquiries
David Segal
Phosphagenics Limited
+61 3 9565 1119
About Phosphagenics
Phosphagenics Limited is a drug delivery company that is commercialising various products within the pharmaceutical, cosmetics and animal health sectors, using its proprietary drug delivery system called TPM® (Targeted Penetration Matrix). TPM® is a patient friendly and cost effective system, based on Vitamin E, that enhances the topical or transdermal delivery of active molecules. The lead products advancing through clinical trials are oxymorphone and oxycodone patches for the relief of chronic pain.
Phosphagenics' shares are listed on the Australian Securities Exchange (POH) and its ADR – Level 1 program in the US is with The Bank of New York Mellon (PPGNY).
Inherent Risks of Investment in Biotechnology Companies
There are a number of inherent risks associated with the development of pharmaceutical products to a marketable stage. The lengthy clinical trial process is designed to assess the safety and efficacy of a drug prior to commercialisation and a significant proportion of drugs fail one or both of these criteria. Other risks include uncertainty of patent protection and proprietary rights, whether patent applications and issued patents will offer adequate protection to enable product development, the obtaining of necessary drug regulatory authority approvals and difficulties caused by the rapid advancements in technology.
Forward-looking Statements
Certain statements in this announcement may contain forward-looking statements regarding Company business and the therapeutic and commercial potential of its technologies and products in development. Any statement describing Company goals, expectations, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the process of discovering, developing and commercialising drugs that can be proven to be safe and effective for use as human therapeutics, and in the endeavour of building a business around such products and services.
www.phosphagenics.com
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• Integrated Animal Health to sign a distribution agreement with UK-based Denis Brinicombe Group
• Agreement is subject to the purchase of minimum quantities of TPM® and royalties.
25 March 2015, Melbourne: Australian drug delivery company, Phosphagenics Limited (ASX: POH; OTCQX: PPGNY), announced that it has granted Integrated Animal Health (IAH) a four year exclusive license to manufacture and sell animal nutrition products that incorporate the Company’s proprietary vitamin E phosphate technology (TPM®). The products, which will be marketed under IAH’s Feed-Mate™ brand, target reductions in the signs associated with mastitis in dairy cows, and are intended to decrease antibiotic use and increase the quality of milk. The products are also believed to provide general improvements to herd health associated with heat stress and fertility difficulties.
The license applies to the United Kingdom and the Republic of Ireland. IAH already has a licensing arrangement for these products in Australia and New Zealand.
IAH intends to appoint the Denis Brinicombe Group Pty Ltd as its distributor for these products. The Denis Brinicombe Group is a UK-based family company, and is a significant manufacturer and distributor of animal feed products in UK and Ireland.
IAH is required to purchase minimum quantities of TPM® annually to maintain exclusivity. The minimums in the first year of the launch total approximately $550,000 in revenue to Phosphagenics and they climb to around $1.8 million for the final year of the exclusivity arrangement. In addition to these minimum purchases, IAH is required to pay Phosphagenics royalties on sales to its distributor.
Phosphagenics and IAH have demonstrated in a number of trials that the use of TPM® in animal feeds imparts numerous benefits for animal health generally, and in the reduction of the symptoms of mastitis in particular. Rob Neely, CEO of IAH, said: “IAH has relocated and established its global headquarters in the USA. This deal with Phosphagenics is an important next step in IAH’s expansion. The deal represents the first agreement with Phosphagenics for animal health products for dairy cows outside of Australia and New Zealand. The distributor, Brinicombe Group is a prominent player in the animal health market in the UK. We have great confidence that this arrangement will contribute significant revenues to both IAH and Phosphagenics.”
Ross Murdoch, Phosphagenics’ CEO, said: “We are optimistic that the arrangements with IAH and UK industry specialist Denis Brinicombe Group will open the door to similar commercial agreements for other territories. This commercial arrangement is a tangible outcome of Phosphagenics’ strategy to actively exploit its technology for near-term revenue growth.”
Enquiries
David Segal
Phosphagenics Limited
+61 3 9565 1119
About Phosphagenics
Phosphagenics Limited is a drug delivery company that is commercialising various products within the pharmaceutical, cosmetics and animal health sectors, using its proprietary drug delivery system called TPM® (Targeted Penetration Matrix). TPM® is a patient friendly and cost effective system, based on Vitamin E, that enhances the topical or transdermal delivery of active molecules. The lead products advancing through clinical trials are oxymorphone and oxycodone patches for the relief of chronic pain.
Phosphagenics' shares are listed on the Australian Securities Exchange (POH) and its ADR – Level 1 program in the US is with The Bank of New York Mellon (PPGNY).
Inherent Risks of Investment in Biotechnology Companies
There are a number of inherent risks associated with the development of pharmaceutical products to a marketable stage. The lengthy clinical trial process is designed to assess the safety and efficacy of a drug prior to commercialisation and a significant proportion of drugs fail one or both of these criteria. Other risks include uncertainty of patent protection and proprietary rights, whether patent applications and issued patents will offer adequate protection to enable product development, the obtaining of necessary drug regulatory authority approvals and difficulties caused by the rapid advancements in technology.
Forward-looking Statements
Certain statements in this announcement may contain forward-looking statements regarding Company business and the therapeutic and commercial potential of its technologies and products in development. Any statement describing Company goals, expectations, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the process of developing technology and in the process of discovering, developing and commercialising drugs that can be proven to be safe and effective for use as human therapeutics, and in the endeavour of building a business around such products and services.
www.phosphagenics.com
Help employers find you! Check out all the jobs and post your resume.
