Venture Life awarded patent, signs new distribution deal

International consumer self-care group Venture Life signed a new long-term distribution agreement for its UltraDEX range, it announced on Wednesday, across four new markets.

The AIM-traded firm said it was also granted an EU patent from the European Patent Office over the UltraDEX Sensitive range, with a patent application now pending on the new MycoClear product for onychomycosis.

It confirmed the UltraDEX distribution agreement was with Swedish listed company Karo Pharma, covering Norway, Sweden, Denmark and Finland.

The board said it marked the start of a collaboration between both parties as Venture Life continued to grow the brand internationally.

“We are delighted to partner with Venture Life and we look forward to sharing the success they have seen in the UK market, in the Nordic region in the coming years,” commented Karo Pharma CEO Peter Blom.

Venture Life also confirmed it had received notification from the European Patent Office that it had been granted a patent for the UltraDEX Sensitive range across Europe.

The UltraDEX Sensitive product was specifically designed for users who experienced increased tooth sensitivity, with the patent adding to the existing portfolio of patents granted for the product covering the US, Japan, Mexico, Indonesia, Australia and New Zealand.

“Karo Pharma becomes our latest international partner for the UltraDEX brand and we are delighted to partner with such a well- established public company in four new markets,” said Venture Life CEO Jerry Randall.

“The extension of our patent portfolio into Europe also strengthens the brand's value and opportunity for further international partner opportunities.”

The company also confirmed it filed a patent with the Italian Patent Office on its new MycoClear product for onychomycosis - a fungal nail infection.

Venture Life said MycoClear had been developed to deal with both the aesthetic issue of the condition and the underlying infection, which caused discoloured, misshapen nails on both the hands and feet.

It claimed the European market alone for onychomycosis products was worth €85m, adding the product brought “innovative design” to an area where current products often had low levels of efficacy.

As previously announced, the product was already approved as a Class IIa medical device and since that approval, Venture Life had begun a clinical programme to strengthen the package of data around this product.

Early indications from potential partners reportedly showed a high level of interest in MycoClear, and the company expected to see partnering deals from the product in the next 12 months.

Looking at other recent developments, Venture Life said it received registration approval in Jordan for its Procto-eze cream and cleanser, together with its new Benecol 'once a day' liquid sachet.

It said the commercial launch for those products was expected late in the 2017 or early 2018 financial years.

Venture Life described Procto-eze as a “highly absorptive” light cleanser and cream for the treatment of anal irritation, with Benecol 'once a day' liquid sachet developed for lowering LDL cholesterol.

The company said it also signed a further two long-term distribution agreements in Israel for Procto-eze and Vonalei with Taro Pharmaceutical Industries.

“The group made good progress in the first half of the year and I'm pleased to report on continuing partnership deals, patent and product approval activity,” Jerry Randall added.

“I am confident we have the right team in place to unlock the full potential of UltraDEX both domestically and internationally and also promote our other key products.”