Innovus’ goal is to triple sales of the product, which it has renamed
UriVaRx™, to $3 million per year using the Company’s Beyond Human
SAN DIEGO–(BUSINESS WIRE)–Innovus Pharmaceuticals, Inc., (“Innovus Pharma” or the “Company”)
(OTCQB Venture Market:INNV) an emerging commercial stage pharmaceutical
company delivering over-the-counter medicines and consumer care products
for men’s and women’s health and respiratory diseases, announced today
an exclusive licensing agreement with Seipel Group (SG) for the rights
to market Urox® Formulation using the Company’s Beyond Human Platform.
Urox® is a specialized patented herbal supplement. It has been
clinically proven to reduce urinary urgency, accidents and both day and
night frequency in Overactive Bladder (OAB) and Urinary Incontinence
(UI) patients. Innovus will market the product under the name UriVaRx™
using its Beyond Human Platform.
Under the exclusive agreement, Innovus Pharma will pay SG an upfront
payment and will commit to a yearly supply of product. Innovus Pharma’s
marketing goal is to triple the sales of the supplement from $1 million
in 2015 to close to $3 million per year.
Urox® has undergone multiple double blind and comparative trials in both
male and female OAB and UI patients. The clinical results include:
- Reduction of ~56% in Urge Incontinence
- Reduction of ~66% in Stress Incontinence
- Reduction of ~61% in Urinary Urgency
Reduction of ~33% in Urinary Frequency meaning the total average
urinary frequency was in the normal/ideal range after two months of use
- Reduction of ~46% in Nocturia
The immediate benefits to Innovus Pharma of the Urox® transaction
The expectation of tripling the product’s annual revenues to close to
- Moving the Company faster to profitability
Offering the product to Innovus Pharma’s over 1.5 million current
subscribers and users of its current products
“This will be our 14th product that Innovus will launch
before the end of the year and we expect it to be a contributor to our
growing revenues,” said Dr. Bassam Damaj, President & CEO of the Company.
“Overactive Bladder and Urinary Incontinence are major medical issues
that affect millions of people in the US and around the world and we
believe it is important to offer a natural, yet clinically tested
alternative,” continued Dr. Damaj.
“We invested years of research and clinical trials for our Urox® product
and we chose Innovus Pharma to launch the product under UriVaRx™
due to their strong direct-to-consumer marketing using their Beyond
Human Platform,” said Dr. Tracey Seipel, Managing Director of SG.
According to the Simon Foundation, Urinary Incontinence affects 26
million Americans with a total market size of $1.1 billion (Source:
Medical Devices Inc.).
The NAFC (National Association for Continence) estimated that over 33
million Americans suffer from Overactive Bladder with a market size over
$2.1 billion (Source: IMS Health).
The active ingredients in UriVaRx™ are CratevoxTM stem
bark, Horsetail herb, and Lindera aggregata root.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging leader in OTC
and consumer products for men’s and women’s health and vitality. The
Company generates revenues from its lead products (a) BTH® Testosterone
Booster, (b) BTH® Human Growth Agent, (c) Zestra® for female arousal and
(d) EjectDelay® for premature ejaculation and has an additional five
marketed products in this space, including (e) Sensum+® to help with
reduced penile sensitivity, (f) Zestra Glide®, (g) Vesele® for promoting
sexual health, (h) RecalMax™ for promotion brain and cognitive health,
(i) Androferti® (in the US and Canada) to support overall male
reproductive health and sperm quality, (j) BTH Vision Formula, (k) BTH
Blood Sugar, among others and eventually FlutiCare™ OTC for Allergic
Rhinitis, if its ANDA is approved by the U.S. FDA.
For more information, go to www.innovuspharma.com,
Innovus Pharma’s Forward-Looking Safe Harbor:
Statements under the Private Securities Litigation Reform Act, as
amended: with the exception of the historical information contained in
this release, the matters described herein contain forward-looking
statements that involve risks and uncertainties that may individually or
mutually impact the matters herein described for a variety of reasons
that are outside the control of the Company, including, but not limited
to, projected revenues from the UriVaRx™ product, projected
online subscribers, estimated market for its products, and statements
about achieving its other development, growth, commercialization,
financial and staffing objectives. Readers are cautioned not to place
undue reliance on these forward-looking statements as actual results
could differ materially from the forward-looking statements contained
herein. Readers are urged to read the risk factors set forth in the
Company’s most recent annual report on Form 10-K, subsequent quarterly
reports filed on Form 10-Q and other filings made with the SEC. Copies
of these reports are available from the SEC’s website or without charge
from the Company.
Kevin Holmes, 410-825-3930