SAN DIEGO, CA / ACCESSWIRE / September 3, 2015 / Innovus Pharmaceuticals, Inc., ("Innovus Pharma" or the "Company") www.innovuspharma.com (INNV) a company focusing on the commercialization of over-the-counter ("OTC") and consumer products for men's and women's health, vitality and respiratory diseases announced today that its partner Orimed received the first commercial shipment of EjectDelay(R) sold as Uxor(TM) for the Canadian market.
Dr. Bassam Damaj, President & Chief Executive Officer of Innovus Pharma, commented, "We are excited to have completed the first product shipment of EjectDelay(R) to Canada. The product will be sold under the Uxor(TM) name. With the commercial availability of Uxor(R) in Canada, Orimed is in a position to finalize its launch activities in an effort to be the first EjectDelay(R) commercial launch outside the United States and to offer to the Canadian patients a safe and efficacious on demand topical treatment for men with premature ejaculation."
In September 2014, Innovus and Orimed entered into an exclusive license agreement to market EjectDelay(R), Zestra(R), Zestra Glide(R) and Sensum+(R) in Canada. EjectDelay(R) received its Product License approval by Health Canada in December 2013. Under the agreement, Innovus received an upfront payment and is eligible to receive up to approximately $94.5 million Canadian dollars upon and subject to the achievement of sales milestones based on cumulative gross sales in Canada by Orimed plus certain double-digit tiered royalties based on Orimed's cumulative net sales in Canada.
As of today, Innovus has signed multiple commercial partners for its EjectDelay(R) product in multiple countries including:
1. Orimed in Canada
2. Ovation Pharma in Morocco
3. Tabuk Pharma in the MENA region
4. Elis Pharma in Turkey and select other countries
5. Oz Biogenics in Myanmar and Vietnam
About EjectDelay(R) and Premature Ejaculation
EjectDelay(R) is an over-the-counter ("OTC") U.S. Food and Drug Administration and Health Canada compliant proprietary topical treatment containing the drug benzocaine and indicated for treatment of premature ejaculation. The drug typically works within minutes of application to the glans. In clinical trials, the application of benzocaine has been shown to delay premature ejaculation by several minutes.
For more information visit www.ejectdelay.com and www.uxor.ca
Premature ejaculation ("PE") is the most common sexual dysfunction reported by men but is still under-diagnosed and under-treated. PE can happen at any age and its prevalence is consistent across all ages. In an article in The Journal of Sexual Medicine in 2007 Sex Med 2007, D.L. Patrick, D. Rowland and M. Rothman state, "Global studies consistently report that 20-30% of men experience PE worldwide. This means that PE is experienced at similar rates across the globe."
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 Zestra(R) for female arousal and EjectDelay(R) for premature ejaculation and has a total of five marketed products in this space, including Sensum+(R) for the indication of reduced penile sensitivity, (for sales outside the U.S. only), Zestra Glide(R), Vesele(R) for promoting sexual and cognitive health, Androferti(R) (in the US and Canada) to support overall male reproductive health and sperm quality and eventually FlutiCare(TM) 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.myadroferti.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, receiving patent protection for any of its products, receiving approval or to be compliant with the requirements of any relevant regulatory authority relating to such products such as EjectDelay(R), to successfully commercialize such products in Canada and in other countries and regions, and to achieve its other development, 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.
Vice President of Finance
SOURCE: Innovus Pharmaceuticals, Inc