TORONTO, Jan. 25, 2018
/CNW/ - Delivra Corp. (TSXV: DVA - "Delivra" or the "Company")
announced today the Company has signed a joint venture agreement
using Delivra's revolutionary, proprietary topical therapeutic
platform (Delivra™). The Delivra™ topical base cream can
accommodate hundreds of molecules that can be used for the human
and animal health sectors.
"This anxiety product combines safe, natural products, with our
transdermal delivery system that makes administration easy by pet
owners; offering a unique and particularly powerful advantage in
the current animal anxiety treatment market. Given the companion
animal market is estimated to exceed $65
billion in sales in the United
States alone with medical product sales representing
approximately 20% of total market sales, we see an enormous
opportunity for revenue generation through leveraging our
proprietary transdermal delivery system in the animal health
market," said Dr. Joseph Gabriele,
CEO of Delivra.
Under the agreement, Delivra and Intervivo Solutions
("Intervivo") have developed a therapeutic topical cream for sleep,
anxiety and separation anxiety for companion animals, as well as
transdermal delivery of therapeutics for osteoarthritic pain.
Delivra's expertise in formulation using its innovative delivery
system platform combined with Intervivo's success in demonstrating
pharmacokinetic, safety and efficacy data in clinically relevant
canine and feline models provides a unique platform for rapid
development of transdermal commercial products for the veterinary
market. The Humane Society reported in 2016 that 30-40% of
relinquished pets are given up due to behavior problems such as
anxiety.
The Company also announces that it has issued an aggregate of
1,800,000 incentive stock options (the "Options") to officers,
directors and consultants of the Company. The Options are
exercisable at $0.45 per share for a
period of five years from the date of grant, expiring on
January 24, 2023. The Options vest
50% on the first anniversary date and 50% on the second anniversary
date. The options have been granted under and are governed by the
terms of the Company's incentive stock option plan.
ABOUT DELIVRA CORP.
Delivra Corp. is a specialty biotechnology company that has a
proprietary transdermal delivery system platform that can shuttle
pharmaceutical and natural molecules through the skin, in a
targeted specific manner. Delivra manufactures and sells a growing
line of natural topical creams with the proprietary transdermal
delivery system platform under the LivRelief™ brand, for
conditions such as joint and muscle pain, nerve pain, varicose
veins, wound healing, and under the LivSport™ brand for
sports performance. LivRelief™ products are available in
pharmacies, grocery chains, and independent health food stores
across Canada, including Shoppers
Drug Mart, Walmart, Loblaws, Rexall, Pharmasave, London Drugs, and
on-line at www.livrelief.com. In parallel with its consumer
products business, Delivra also has a mandate to license its
patent-pending proprietary transdermal delivery technology platform
to pharmaceutical companies globally, for the repurposing of
pharmaceutical molecules transdermally to treat a broad range of
conditions, along with licensing its over-the-counter products
globally. Delivra is headquartered in Hamilton, Ontario and has a research and
development laboratory in Charlottetown, PEI.
Further information on Delivra can be found at
www.delivracorp.com, www.livrelief.com for Canada and www.livrelief.com/us for
the United States.
ABOUT INTERVIVO SOLUTIONS
InterVivo is a Canadian-based preclinical contract research
organization with a mission to develop and provide translational
animal models and transformative research services in an effort to
improve the clinical success of new therapeutics, particularly in
central nervous system indications. In addition to drug metabolism,
exploratory safety and pharmacokinetics screening, InterVivo
provides rodent models of cognitive dysfunction, obesity, abuse
liability, pain and epilepsy, and Parkinson's disease. InterVivo
also provides a natural aging canine and feline models of human
diseases with a particular emphasis on AD progression, cancer,
osteoarthritis, obesity and metabolic disorders. InterVivo
currently operates in in a 38,000-square foot animal facility in
Fergus, ON, an 11,000-square foot
facility in Mississauga, ON and
has head offices in downtown Toronto.
For further information on Intervivo can be found at
www.intervivo.com.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain information and statements
about management's view of future events, expectations, plans and
prospects that constitute "forward-looking statements", which are
not comprised of historical facts. Forward-looking statements may
be identified by such terms as "believes", "anticipates",
"intends", "expects", "estimates", "may", "could", "would", "will",
or "plan", and similar expressions. Specifically, forward-looking
statements in this news release include, without limitation,
statements regarding: the Company's drug research and development
plans; the timing of operations; and estimates of market
conditions. These statements involve known and unknown risks,
uncertainties, and other factors that may cause actual results or
events, performance, or achievements of Delivra to differ
materially from those anticipated or implied in such
forward-looking statements. The Company believes that the
expectations reflected in these forward-looking statements are
reasonable, but there can be no assurance that actual results will
meet management's expectations. In formulating the forward-looking
statements contained herein, management has assumed that business
and economic conditions affecting Delivra will continue
substantially in the ordinary course and will be favorable to
Delivra, that clinical testing results will justify
commercialization of the Company's drug candidates; that Delivra
will be able to obtain all requisite regulatory approvals to
commercialize its drug candidates, that such approvals will be
received on a timely basis, and that Delivra will be able to find
suitable partners for development and commercialization of its
products and intellectual property on favourable terms. Although
these assumptions were considered reasonable by management at the
time of preparation, they may prove to be incorrect. Factors that
may cause actual results to differ materially from those
anticipated by these forward-looking statements include:
uncertainties associated with obtaining regulatory approval to
perform clinical trials and market products; the need to establish
additional corporate collaborations, distribution or licensing
arrangements; the ability of the Company to generate sales and
profits; the Company's ability to raise additional capital if and
when necessary; intellectual property disputes; increased
competition from pharmaceutical and biotechnology companies;
changes in equity markets, inflation, and changes in exchange
rates; and other factors as described in detail in Delivra's public
filings, all of which may be viewed on SEDAR (www.sedar.com). Given
these risks and uncertainties, readers are cautioned not to place
undue reliance on such forward-looking statements and information,
which are qualified in their entirety by this cautionary statement.
Except as required by law, Delivra disclaims any intention and
assumes no obligation to update or revise any forward-looking
statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in
factors affecting such forward-looking statements or otherwise.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Delivra Corp