Venture Life Group PLC FDA approval for the US market (3152S)
02 October 2017 - 5:00PM
UK Regulatory
TIDMVLG
RNS Number : 3152S
Venture Life Group PLC
02 October 2017
2 October 2017
VENTURE LIFE GROUP PLC
("Venture Life" or "the Company")
FDA approval to manufacture OTC drug products for the US
market
Long-term distribution agreement for UltraDEX in France
Venture Life Group plc (AIM: VLG), the international consumer
self-care group focused on developing, manufacturing and
commercialising products for the ageing population, announces its
development and manufacturing facility has gained US FDA approval
for the manufacture of over the counter ("OTC") drug products for
the US market. Separately, it has signed a long-term distribution
agreement for UltraDEX in France.
Biokosmes S.r.l. ("Biokosmes"), the Company's manufacturing
facility based in Italy, has successfully passed an inspection by
the US FDA which means it is now, for the first time, approved to
develop and manufacture OTC drug products for sale and marketing in
the USA. This means a completely new regulatory category of
products that can be manufactured at Biokosmes. Venture Life now
has the opportunity to provide this new service to its existing
customers, as well as new customers, and it will also allow the
Company to develop its own OTC drug products in due course for the
US market.
In addition, the Company has signed a long-term distribution
agreement for UltraDEX with leading French company La Brosse et
Dupont SAS. Founded in 1932, the company is a former subsidiary of
LVMH Moet Hennessy Louis Vuitton S.E. It serves customers through
large and medium commercial outlets throughout France and has
market leading products within the oral healthcare space. UltraDEX
will be added to their branded portfolio and the launch in France
will take place in Q1 2018.
Commenting on the news, Jerry Randall, Chief Executive Officer
of Venture Life, said: "Gaining the US FDA approval of our facility
for the manufacture of OTC drugs is a significant new growth
opportunity for the Company both with our existing and potential
new partners and it also enables us to develop our own such
products for the US market. Also, securing a partner for UltraDEX
in France means that we have now extended the distribution of the
UltraDEX products into four of the 'big five' EU countries,
increasing our European coverage for this important Venture Life
brand. These two significant achievements are expected to deliver
future growth and value enhancement for the Group."
+44 (0) 1344
Venture Life Group PLC 578 004
Jerry Randall, Chief Executive Officer
Adrian Crockett, Chief Financial Officer
Northland Capital Partners Limited (Nominated Adviser +44 (0) 20
and Joint Broker) 3861 6625
Matthew Johnson / Edward Hutton (Corporate
Finance)
Bob Pountney / John Howes (Corporate
Broking)
+44 (0) 20
Turner Pope Investments (TPI) Ltd (Joint Broker) 3621 4120
James Pope / Ben Turner
Walbrook PR venturelife@walbrookpr.com
or + 44 (0) 20 7933 8780
Anna Dunphy / Paul McManus +44 (0) 7876 741 001 /
+44 (0) 7980 541 893
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 (MAR)
About Venture Life (www.venture-life.com)
Venture Life is an international consumer self-care company
focused on developing, manufacturing and commercialising products
for the ageing population. The Group's product portfolio includes
some key products such as the UltraDEX oral care products range,
food supplements for lowering cholesterol and maintaining brain
function, medical devices for women's intimate healthcare and
haemorrhoids and dermo-cosmetics for addressing the signs of
ageing.
The products, which are typically recommended by pharmacists or
healthcare practitioners, are available primarily through
pharmacies supplied by the Group's international distribution
partners.
Through its Development & Manufacturing business in Italy,
Biokosmes, the Group also provides development and manufacturing
services to companies in the medical devices and cosmetic
sectors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 02, 2017 02:00 ET (06:00 GMT)
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