MONTREAL, March 24,
2022 /CNW Telbec/ - Lumiera Health
Inc. (TSXV: NHP) (the "Company" or
"Lumiera "), a company specializing in the development
and commercialization of natural health products, is pleased to
announce the signing of a distribution agreement with Fideschem
International Ltd., a Singapore-based company that will enable
Awaye™ to access the Vietnamese market which has a population of
approximately 100 million people and a pain relief market
forecasted to grow at >11.24% annually for the foreseeable
future.
"In addition to our recent announcements that the U.S. Food
& Drug Administration (FDA) has published final registration of
the Company's National Drug Code (NDC) allowing Awaye™ to be sold
as an OTC drug across the US, a market of approximately 330 million
people with a pain relief category of US$6
billion, we are working to further expand the market
potential for Awaye™. We are very pleased to be working with
the Fideschem team in the Vietnamese market which is a market of
approximately 100 million people. Based on the market
dynamics and the trend to more natural health products and natural
pain relief products, the Fideschem team has forecasted tremendous
success for Awaye™" says Carlos
Ponce, CEO of Lumiera Health.
"We strongly believe that Awaye™ has the potential to capture
significant market share in Vietnam. Awaye™ is perfectly positioned to
leverage the growing demand for natural, non-addictive pain
management solutions combined with consumer trust towards Canadian
products." says Nguyen Minh Hieu,
Managing Director at Fideschem International Ltd.
As a part of the agreement, Fideschem will first obtain and
maintain all regulatory requirements to allow the sales of Awaye™
in Vietman and then manage all sales and marketing
initiatives. Based on the regulatory process to commercialize
health products in Vietnam,
Fideschem and Lumeira forecast sales to begin in 12 months.
"Awaye™ truly is a great product that naturally helps people
manage their pain, and we continue to receive positive feedback
from people that are trying and buying Awaye™. With
confidence and conviction in our product, we are executing our
accelerated growth plans. We are still very early in our execution;
we launched Awaye™ in April 2021 and
we are seeing tremendous growth with limited distribution. We are
focused on increasing market access, then building distribution and
trial. In 12 months, with the launch in Vietman in addition to our
distribution focus in Canada and
the US, Awaye™ will be available to more the 465 million
people. We look forward to continuing to expand distribution
and to accelerate the number of people that try and buy Awaye™
within our rapidly growing market potential." says Carlos Ponce, CEO of Lumiera.
About Awaye™
Awaye™ provides a new generation of relief from acute and
chronic pain by exploiting the CB2 receptors of the endocannabinoid
system, the body's built-in pain and inflammation defense system.
Awaye™ is a unique Health Canada approved topical cream that
provides relief from pain through complimentary mechanisms of
action not found in any other product currently available on the
market.
For more information about Awaye™ products, visit
www.awaye.ca
About Fideschem International Inc.
Singapore-based Fideschem
International PTE Ltd is a private company
whose specializes in the retail sale of pharmaceutical
and medical products in Southeast
Asia. It also provides trade support services such as
import and export declarations, shipping authorization
applications, and commercial registration applications. Their
portfolio includes pharmaceutical finished formulations, medical
devices, dietary supplements and cosmetics, distributed in
Vietnam through their local
company, Medpharm Pharma JSC.
About Lumiera Health
Lumiera specializes in the development and commercialization of
consumer products for the natural health industry. The Company
sells herbal tonics and natural supplements through its Holizen
Laboratories division, with a diverse portfolio including a line of
innovative sleep aids. The Company is also commercializing a unique
topical product line acting on the endocannabinoid system, without
the use of cannabis, that provides an innovative solution for
chronic pain and inflammation. A pioneer in the natural health
innovation space, the Lumiera brand is rooted in the core values of
science, nature and compassion. Our goal is to make people's
lives better by developing natural health and wellness products
that are effective, safe and trustworthy.
For more information visit: www.lumiera.ca.
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.
Forward-looking information
Certain statements contained in this press release constitute
"forward-looking information" as such term is defined in applicable
Canadian securities legislation. The words "may", "would", "could",
"should", "potential", "will", "seek", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar
expressions indicate such "forward-looking
information" as they relate to Lumiera. All statements other
than statements of historical fact may be forward-looking
information. Such statements reflect Lumiera' current views and
intentions with respect to future events, and current information
available to Lumiera, and are subject to certain risks,
uncertainties and assumptions. Such risks and uncertainties
include, among others, the risk factors included in Lumiera' annual
management's discussion and analysis for the year
ended November 30, 2021,
which is available under the issuer's SEDAR profile
at www.sedar.com. Material factors or assumptions
were applied in providing forward-looking information. Many factors
could cause the actual results, performance or achievements that
may be expressed or implied by such forward-looking information to
vary from those described herein should one or more of these risks
or uncertainties materialize. Should any factor affect Lumiera in
an unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward-looking information is expressly qualified in its
entirety by this cautionary statement. Moreover, Lumiera does not
assume responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release and Lumiera undertakes no obligation to publicly update or
revise any forward-looking information, other than as required by
applicable law.
Related Links: www.lumiera.ca
SOURCE Lumiera Health Inc.