SAN DIEGO--(BUSINESS WIRE)--
Innovus Pharmaceuticals, Inc. ("Innovus Pharma") (OTCQB Venture Market: INNV), today announced that it has received a Notice of Intention to Grant from the European Patent Office (“EPO”) to issue a European-wide patent entitled “Sensitization composition and method of use” for its Sensum+® product, for reduced penile sensitivity. On March 8, 2017, Innovus Pharma announced that it received the CPNP notification number required for commercialization of Sensum+® in all 28 member countries of the European Union.
“Receipt of the Notice of Intention to Grant from the EPO adds great value to the CPNP notification we received earlier in the month to market Sensum+® in Europe and is a testament to the innovation of our products and our continued ability to obtain patents that protect one of our best-selling products,” said Dr. Bassam Damaj, President and Chief Executive Officer of Innovus Pharma. “Having a patented product should increase our ability to enter into new commercial partnerships for Sensum+® in Europe.”
Sensum+® is a non-medicated cream which moisturizes the head and shaft of the penis for enhanced feelings of sensation and greater sexual satisfaction. It is a patent-pending blend of essential oils and ingredients generally recognized as safe that recently commenced marketing in the U.S. Innovus Pharma acquired the global ex-U.S. distribution rights to Sensum+® from Centric Research Institute. The safety and efficacy of Sensum+® was evaluated in two post-marketing survey clinical studies in circumcised and non-circumcised men. A total of 382 men used Sensum+® twice daily for 14 consecutive days followed by once daily for eight weeks and as needed thereafter. Study participants reported a ~50% increase in penile sensitivity with the use of Sensum+®.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging over-the-counter (“OTC”) consumer goods and specialty pharmaceutical company engaged in the commercialization, licensing and development of safe and effective non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases. Innovus Pharma delivers innovative and uniquely presented and packaged health solutions through its (a) OTC medicines and consumer and health products, which we market directly; (b) commercial partners to primary care physicians, urologists, gynecologists and therapists; and (c) directly to consumers through our on-line channels, retailers and wholesalers. The Company is dedicated to being a leader in developing and marketing new OTC and branded Abbreviated New Drug Application (“ANDA”) products. The Company is actively pursuing opportunities where existing prescription drugs have recently, or are expected to, change from prescription (or Rx) to OTC.
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, the Company’s need for additional equity or debt financing, to receive applicable regulatory approval for its products, successfully commercialize Sensum+® in Europe and other products in other countries 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.