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Immuron Ltd — Capital/Financing Update 2012
Sep 11, 2012
35121_rns_2012-09-11_43ddb4ae-a63a-4f24-b214-d81ce6369af1.pdf
Capital/Financing Update
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ABN: 80 063 114 045 Level 1, 39 Leveson Street North Melbourne, Vic 3051 Tel: +61 3 8637 1107 Fax: +61 3 9328 1675 www.immuron.com
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TRAVELAN® LICENCED WITH SIGNIFICANT MARKETING PARTNER IN CHINA AND TAIWAN
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Immuron and Harvest & Health sign agreement for the distribution of Travelan in China and Taiwan
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Harvest & Health distributes products in China and Taiwan for many of the major pharmaceutical companies
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Third largest international visitor destination, supporting global interest in Travelan
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Market evaluation anticipated to help build significant revenue base
12 September 2012, Melbourne, Australia: Australian biopharmaceutical company Immuron Ltd (ASX:IMC), manufacturer of Travelan®, is further expanding its commercialisation of Travelan.
Immuron has entered into an agreement with Harvest & Health Co Ltd, for the distribution of Travelan in China and Taiwan. Combined, these two countries receive approximately 60 million travellers annually, which represents the third largest international travellers’ destination in the world[1] . There is also a significant amount of travel from these countries to other regions and countries in Asia in which the use of Travelan is recommended.
Under the agreement, Harvest & Health is required to complete a market evaluation program that is expected to provide clear guidance regarding the marketing channels, promotional opportunities and sales potential. Once Harvest & Health registers Travelan, a one-time milestone payment will be payable to Immuron for each of China and Taiwan upon launching the product.
Travellers’ Diarrhoea (TD) is the most common illness affecting international travellers, with 3550% of people travelling to developing countries suffering from TD. Travelan® is a natural product which is specifically designed to prevent infection by Enterotoxigenic Escherichia coli (ETEC) the most common cause of TD.
“With the amount of travel to and from China and Taiwan, our agreement with Harvest & Health provides us with access to a significant and growing market for our product.” stated Joe Baini, Immuron’s CEO.
“This is another significant step towards our strategy for rolling out Travelan on a global basis. In fact this Agreement is one event that crystallizes our global commercialization strategies which we continue to aggressively pursue. As we continue to enter into agreements for commercialization of Travelan, and as the first of our new partners are preparing to launch Travelan in their respective territories in the first quarter of 2013, our confidence continues to grow that Immuron will generate significant revenues commencing in short to mid-term
1 UNWTO Tourism Highlights, 2012 Edition
continued Mr Baini. “We are delighted to have Harvest & Health as our partner, a company with a successful track record, as a local representative of choice for many of the world’s leading pharmaceutical companies. Harvest & Health’s impressive growth and aggressive ambition bodes well for the prospects of Travelan selling well in these two markets”.
“We believe that Travelan is a product with significant potential in Taiwan and China. With its unique attributes as a preventative of a disease that afflicts many people in and around our region, and our strong sales focus, we are confident that we will establish a successful business with Travelan and provide many consumers with a reliable solution which they do not currently have for debilitating Travellers’ Diarrhoea” said Dennis Chou, Harvest & Health’s founder and General Manager.
Contact
Joe Baini – Chief Executive Officer +61 3 8637 1107
About Immuron Limited
Immuron is a biopharmaceutical company focused on oral immunotherapy treatments using dairy-derived antibody products for humans. Immuron is uniquely positioned with a versatile technology platform capable of generating a wide range of products with a high safety profile. This high safety profile makes it possible to complete pre-clinical studies relatively quickly and increases the prospect that the clinical development of Immuron’s products will be expedited. Immuron’s current products and product candidates target infectious diseases of the gastrointestinal tract, chronic diseases such as fatty liver/NASH, and influenza. Immuron has one product in the market, Travelan, for preventing travellers’ diarrhoea which is the subject of a global commercialization plans. Immuron’s main scientific alliances are with Hadassah Medical Center (Israel), the University of Melbourne and Monash University (Australia).
About Harvest & Health Co. Ltd.
Harvest & Health is a Taiwanese firm established in 1984 and belonging to the Juiti Group. The Juiti Group is a leading supplier of pharmaceutical and medical device products in the Taiwanese market with sales growing every year since 2001. Juiti's products range from renal care to infusion therapy, emergency medicine, oncology, nephrology, etc. The Juiti Group distributes products of prestigious companies including GSK, Astra Zeneca, Baxter, GE, Medtronic. In addition to its headquarters in Taipei, it has branch offices in Taichung and Kaohsiung.