Blue Water Biotech Collaborates with IQVIA to Build Medical Sales Representative Team to Market Commercial Product Portfolio
21 June 2023 - 9:30PM
Blue Water Biotech, Inc. (“Blue Water” or the “Company”) (Nasdaq:
BWV), a biotechnology and pharmaceutical company spanning multiple
sectors, today announced plans to establish a medical sales
representative team with IQVIA to market Blue Water’s commercial
portfolio. This portfolio is highlighted by ENTADFI®, a treatment
for benign prostatic hyperplasia, and ZONTIVITY®, a medication for
the reduction of thrombotic cardiovascular events in patients with
a history of myocardial infarction or with peripheral arterial
disease.
In this collaboration, IQVIA and Blue Water will jointly work to
build a sales team for Blue Water’s commercial products, covering
key geographies that account for a large percentage of
prescriptions in target markets, including urology and cardiology.
Blue Water and IQVIA have agreed to commence certain activities on
a provisional basis and are working towards finalizing a definitive
agreement. Upon execution of a definitive agreement, Blue Water
expects that IQVIA representatives and Blue Water’s commercial team
will seek to identify high-volume prescribers in key markets to
maximize uptake and socialization of Blue Water products. IQVIA, a
global provider of data analytics and solutions for the development
of robust medical sales representative teams to support emerging
life science companies, has a proven track record of establishing
effective medical sales teams.
“This collaboration with IQVIA is a promising step towards the
launch of ENTADFI® and the six assets we are acquiring,” said
Joseph Hernandez, Chairman and Chief Executive Officer of Blue
Water. “With decades of experience helping companies commercialize
and market their products, we are thrilled to collaborate with
IQVIA to build out our sales team and educate providers on the
benefits of our products to get patients access to therapies they
need.”
In addition to the purchase of ENTADFI® in April 2023, Blue
Water recently signed an Asset Purchase Agreement on June 13, 2023
for the purchase of six FDA-approved assets across multiple
indications, including cardiology, otic infections, and pain
management. Blue Water management intends to work closely with
IQVIA to develop a strategy to market Blue Water’s portfolio of
assets to physicians across the United States.
About Blue Water Biotech
Blue Water Biotech, Inc. is a biological and pharmaceutical
technology company focused on developing and providing
transformational therapies to address significant health challenges
globally. Headquartered in Cincinnati, OH, the Company owns
ENTADFI®, an FDA-approved, once daily pill that combines
finasteride and tadalafil for the treatment of benign prostatic
hyperplasia. This combination allows men to receive treatment for
their symptoms of benign prostatic hyperplasia without the negative
sexual side effects typically seen in patients on finasteride
alone. The Company also has a robust vaccine pipeline. Blue Water
holds the rights to proprietary technology developed at the
University of Oxford, Cincinnati Children’s Hospital Medical
Center, St. Jude Children’s Hospital, and The University of Texas
Health Science Center at San Antonio. Blue Water is developing a
Streptococcus pneumoniae vaccine candidate, designed to
specifically prevent highly infectious middle ear infections, known
as AOM, in children, and prevention of pneumonia in the elderly.
The Company is also developing a universal flu vaccine that will
provide protection from all virulent strains in addition to
licensing a novel norovirus S&P nanoparticle versatile
virus-like particle vaccine platform from Cincinnati Children’s to
develop vaccines for multiple infectious diseases, including
Marburg and monkeypox, among others. Additionally, the Company is
developing a Chlamydia vaccine candidate with UT Health Science
Center San Antonio to prevent infection and reduce the need for
antibiotic treatment associated with contracting Chlamydia disease.
For more information about Blue Water, visit www.bwbioinc.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as “anticipate,” “believe,” “forecast,”
“estimate,” “expect,” and “intend,” among others. These
forward-looking statements are based on Blue Water’s current
expectations and actual results could differ materially. There are
a number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, risks related to
Blue Water’s ability to realize the benefits of its acquisitions of
ENTADFI®, ZONTIVITY®, OTOVEL®, CETRAXAL®, CONJUPRI®, TREZIX™ and
NALFON®; risks related to Blue Water’s ability to expand its
business scope, commercialize ENTADFI® and integrate the assets and
commercial operations being acquired from WraSer into Blue Water’s
business; risks related to Blue Water’s ability to attract, hire
and retain skilled personnel and establish an effective sales team;
risks related to Blue Water’s ability to enter into a definitive
agreement with IQVIA and optimize its collaboration with IQVIA;
risks related to the development of Blue Water’s vaccine
candidates; the failure to obtain FDA clearances or approvals and
noncompliance with FDA regulations; delays and uncertainties caused
by the global COVID-19 pandemic; risks related to the timing and
progress of clinical development of our product candidates; our
need for additional financing; uncertainties of patent protection
and litigation; uncertainties of government or third party payor
reimbursement; limited research and development efforts and
dependence upon third parties; and substantial competition. As with
any vaccine under development, there are significant risks in the
development, regulatory approval and commercialization of new
products. Blue Water does not undertake an obligation to update or
revise any forward-looking statement. Investors should read the
risk factors set forth in Blue Water’s Annual Report on Form 10-K,
filed with the Securities and Exchange Commission (the “SEC”) on
March 9, 2023 and periodic reports filed with the SEC on or after
the date thereof. All of Blue Water’s forward-looking statements
are expressly qualified by all such risk factors and other
cautionary statements. The information set forth herein speaks only
as of the date thereof.
Media Contact Information:Blue Water Media
RelationsTelephone: (646) 942-5591 Email:
Nic.Johnson@russopartnersllc.com
Investor Contact Information:Blue Water Investor RelationsEmail:
investors@bwbioinc.com
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