SAN DIEGO, Aug. 28, 2014 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals, Inc., ("Innovus Pharma") www.innovuspharma.com (OTCQB:INNV) announced today it has entered into an exclusive marketing and distribution agreement with DanaLife ApS based in Denmark ("DanaLife") under which Innovus Pharma has granted to DanaLife an exclusive 18 month worldwide distribution right ( excluding Canada) , to market and sell Innovus Pharma's topical consumer care product to increase Female Sexual Arousal and Desire and Satisfaction, Zestra® for the alternative markets which excludes all medical and mainstream sales channels. The Company is in the process of negotiating commercial agreements with Pharmaceutical companies to promote the product in the medical and mainstream channels. Under the agreement the initial minimum orders are expected to be two hundred and fifty thousand US dollars. The terms of the agreement can be extended automatically by another 18 months if DanaLife meets certain minimum sales numbers.
"Zestra® is already available in the medical and mainstream channels in the US and Canadian markets and this is a good opportunity for the Company to expand into additional sales channels. DanaLife is a leader in Alternative markets and has a strong proven record with products such as Jes Extender™ and Male Edge™," said Dr. Bassam Damaj, Ph.D. President & CEO of Innovus Pharma.
"This partnership is the third of many partnerships the Company is expected to announce in the near future and opens a large untapped market for Zestra®," continued Dr. Damaj.
"We are pleased to add Zestra® to our pipeline and channels," said Mr. Jes Bech Müller, President of DanaLife. "DanaLife performed a use study with Zestra® in Denmark and achieved excellent results. We expect this product to exceed our projections. The alternative market for female products is very large, and is estimated to be over $2 billion according to the NY Post (April 22, 2013). We look forward to working with Innovus on such a great product and grow it through our established worldwide sales channels," said Mr. Müller.
About Zestra® and FSI/AD
Zestra® is a patented blend of natural oils clinically-proven in double-blind placebo-controlled clinical trials in close to 300 women to increase in a statistical significant manner the arousal, desire and sexual satisfaction in FSI/AD women. Zestra® is the first NHP product to receive approval for the indication of FSDD and the Company filed for label expansion to FSI/AD in Canada. To date, no product has been approved in the Canada to treat FSI/AD, a persistent or recurring inability to attain or maintain adequate sexual excitement until the completion of a sexual activity. The diagnosis can also refer to an inadequate lubrication-swelling response normally present during arousal and sexual activity causing personal distress. Published papers on the FSI/AD market size estimate it to be equal or larger than the market for erectile dysfunction in males, and possibly larger.
DanaLife was founded in June 2007, in Copenhagen Denmark, and produces the two leading brands within medical penis enlargement: MaleEdge® and Jes-Extender®. A recent article brought in "The British journal of Urology" documents the efficiency of their products.
The principle behind both product lines is the so called "Cytokinesis" which in essence means the body reacts to a small traction force by producing more cells, thus increasing the total mass of the tissue. The products are patented in the majority of world markets, and distributed to both the Medical and adult industry worldwide.
About Innovus Pharmaceuticals, Inc.
Innovus Pharmaceuticals, Inc. (OTCQB:INNV), located in San Diego, California, is an emerging pharmaceuticals company that delivers safe, innovative and effective non-prescription over-the counter medicine and consumer care products to improve men and women's health and vitality. Our products are marketed in the United States and Canada via retailers and on the web. The Company also details its products to urologists, gynecologists and sex therapists either directly in the United States or through commercial partners ex-US. Its current product portfolio is comprised of Zestra® (for female arousal, desire and satisfaction), EjectDelay™ (for premature ejaculation), Sensum+™ (for reduced penile sensitivity) and Zestra Glide® (A high viscosity low molarity female water based lubricant). For more information, go to www.innovuspharma.com; www.ejectdelay.com and www.zestra.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, receiving patent protection for any of its products, to receive approval or meet the requirements of any relevant regulatory authority, to successfully commercialize such products and to achieve its other development, commercialization and financial goals, whether DanaLife will be able to successfully market and sell Zesta® in the alternative markets. 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.
Innovus Pharma Contact: Kevin Holmes Chesapeake Group T: 410-825-3930