TORONTO, Feb. 1, 2018 /CNW/ - Delivra Corp. (TSXV: DVA -
"Delivra" or the "Company") announced today that it has signed a
non-exclusive distribution agreement with NKS Health Ltd. ("NKS"),
granting NKS the right to compound, distribute, promote, market and
sell new unique pharmaceutical compounded product formulas
developed by Delivra. The goal of the agreement is to build a
partnership to both grow awareness and increase volume of sales for
the Company's pharmaceutical pipeline.
NKS will promote Delivra's cream-base therapeutics to
physicians, hospitals and clinics in Canada through its network. Delivra has
developed a suite of compounded products for pain, anxiety and
diabetic foot ulcers. These products include: cannabis-like
molecules (nabilone), opioids (buprenorphine),
celebrexTM, neuropathic molecules like gabapentin for
nerve related pain and the antibiotic doxycycline for diabetic foot
ulcers. The agreement is effective until December 2019.
"This agreement is consistent with our strategy to repurpose
existing and globally accepted pharmaceutical drugs for new
indications using our proprietary transdermal technology platform
through an expanded network. Pharmacy compounding, a
multi-billion-dollar industry, is the formulation of personalized
medications into topical creams for patients. At Delivra, we took
this significant opportunity and we have formulated an innovative
cream-base therapeutic, better known as the new class of topical
delivery system platform. Unlike other topical delivery platforms,
Delivra's emollient bases are targeted, specific and safe. We have
already received many favorable case studies from both patients and
clinicians with the use of these multiple actives, without the
usual significant side-effects that are common with oral
medication," said Dr. Joseph
Gabriele, CEO of Delivra. "This agreement is a significant
step to extend the benefits of Delivra's prescription products to a
greater number of patients in Canada. In addition to our leading diabetic
neuropathy product sold under the LivReliefTM Nerve Pain
Cream brand in pharmacies across Canada, our technology can create a strong
suite of prescription treatment options for diabetes, chronic pain
and anxiety. We believe that NKS speciality pharmacy is a perfect
partner as they have a great breadth of physicians in areas of
pain-related disorders like rheumatologists, neurologists and
physiatrists."
As our population is aging exponentially and deals with a number
of chronic illnesses that require medication, demand for compounded
pharmaceuticals has risen significantly. More specifically,
patients have used compounded prescriptions to access medications
in alternative dosages, routes of administration, and ingredients
(due to patient allergies), versus pharmaceutical pill formatted
drugs that were commercially available. In addition, the shortage
or termination of prescriptions from drug manufacturers' product
portfolio has stimulated demand for compounded prescriptions.
According to the Pharmaceutical Research and Manufacturers of
America, approximately 3.6 billion prescriptions are dispensed in
the United States each year. The
US Pharmacopeia Convention estimates that 30 million to 40 million
of those prescriptions are compounded medications. Over the past
five years, numerous trends have increased patient utilization
rates of compounded medications.
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 LivReliefTM brand,
for conditions such as joint and muscle pain, nerve pain, varicose
veins, wound healing, and under the LivSportTM brand for
sports performance. LivReliefTM products are available
in pharmacies, grocery chains, and independent health food stores
across Canada, including, but not
limited to, Shoppers Drug Mart, Walmart, Loblaw, 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 NKS HEALTH LTD
NKS Health is a specialty pharmacy including personalized
compounding medications, in home training – medication reviews and
counselling, nutrition and supplementation expertise, compliance
services, insurance/third party coverage/government plans; tailored
prescription forms & easy ordering forms and high-level
customer service delivery. NKS Health focuses on several core
areas: biologic medications, therapeutic use of botulinum toxin,
pain management, bone density, migraine, multiple sclerosis, HIV
and hepatitis. NKS Health offers the highest level of customer
service – our dedicated team of customer service personnel ensure
accurate and timely delivery of medications to hospitals, clinics
and patients throughout Canada
with locations in satellite Toronto, London and Ottawa. NKS Health offers new levels of
support for physicians and patients with "point of care" active
drug level testing, as well as inflammation marker testing to help
physicians monitor a patient's response to their medications.
Further information on NKS can be found at www.nkshealth.ca.
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