LOS ANGELES, Calif., Oct. 24, 2023 (GLOBE NEWSWIRE) -- ViaDerma, Inc. (OTC Pink: VDRM) is pleased to announce several new and exciting business updates for current and prospective shareholders, customers, partners, and healthcare providers.
The company is currently in the final phases of completing our stability testing requirements with our third-party testing facility. Based on the feedback we received from our testing partner last week, the company is on pace to have everything finalized by the end of October. The stability testing requirements are a crucial step in order to greenlight the approvals to distribute our lead product Vitastem Ultra throughout multiple countries in the Caribbean and Middle East, along with India - the largest populated nation on Earth with 1.486 billion people, which recently surpassed China earlier this year.
ViaDerma’s management team has been working diligently with our new contract manufacturer to ramp up production capabilities in order to accommodate several large volume orders of 250,000 to 300,000 plus units per country this year. ViaDerma’s Founder & CEO, Dr. Christopher Otiko is expected to travel to Egypt in Q4 to present Vitastem Ultra to their government officials as the company is expecting to fulfill purchase orders of 250,000 units or more in Egypt alone.
Upon the completion of stability testing for Vitastem Ultra, we will be able to begin distributing Vitastem internationally by fulfilling initial purchase orders throughout the Caribbean, Middle East, and India where the demand for Vitastem is highest. Based on the discussions with our sales partners, ViaDerma is planning to initially distribute 300,000 plus units per country yearly and expect to scale the volume of units delivered throughout each country.
Our new and much larger product manufacturer located in the US is crucial for the company to meet the growing demand for new & innovative topical antibiotics like Vitastem Ultra that are required to combat the ever-growing presence of superbugs like staph & MRSA that arise due to HAIs (healthcare-associated infections) throughout healthcare facilities globally. As these types of infections create numerous additional health risks to patients, hospital staff, and relatives of the patients, Vitastem is a proven solution with this serious matter.
Due to several ongoing updates and FDA drug application requirements for Nupelo’s use of the active ingredient, Minoxidil, our FDA-registration status is currently on hold for the time-being. ViaDerma is looking into utilizing a natural active product that can offer the same results as Minoxidil.
According to Dr. Otiko, “Due to the requirements for a new and very lengthy drug application required by the FDA and for sake of bringing Nupelo to market faster, we have been actively looking into incorporating an alternative natural active ingredient that can do the same thing as Minoxidil but will not require such a lengthy process in order to finalize the registration of Nupelo with the FDA.”
The company can either go with a new natural formula or use Minoxidil and sell Nupelo to compound pharmacies. Updates for Nupelo will be forthcoming once a viable solution is met to accelerate distribution and sales nationwide.
Furthermore, ViaDerma is advancing conversations and negotiations with the VA (Veterans Affairs Department), along with a very large HMO about distributing Vitastem Ultra through their pharmacies. Due to confidentiality requirements, we cannot disclose their name until given the okay, however, this tier-1 HMO leader has a large national presence with over 650 healthcare facilities, 90,000 physicians and nurses that service nearly 13 million people throughout the United States. Updates will be forthcoming.
The company is also pleased to announce that we have expanded licensing agreements and are now up & running in 14 states and expect to keep expanding into more states throughout the year.
“2023 is shaping up to be a very pivotal year for ViaDerma and we are extremely excited about the future of our business moving forward. The growing demand for Vitastem is testament to the powerful healing properties this broad-spectrum topical antibiotic offers to healthcare globally. Our team is working around the clock to ensure operations, manufacturing, and product distribution are sound and ready to meet this growing demand around the world and fulfill purchase orders in the hundreds of thousands per country with the expectations to continually compound sales growth throughout 2024 and beyond.” said Dr. Otiko.
The ViaDerma management team deeply appreciates all the ongoing feedback and patience from shareholders, partners, customers, and healthcare providers. We are extremely grateful and excited about the progress we have made this year and for the future of the business over the next year. We look forward to sharing several more updates as soon as possible with everyone as soon as they arise.
About ViaDerma, Inc.
ViaDerma, Inc. (OTC: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative transdermal drug delivery technology solutions to current leaders in the pharmaceutical industry in a wide variety of therapeutic areas. For more information, please visit: https://viaderma.com
Any forecast of future performance is a "forward looking statement" under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment.
Contact information:
Investor Relations
Email: ir@viaderma.com
Phone: 310-734-6111
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