Business
Easton Pharmaceuticals Announces The Signing Of Closed Sub-Distribution Agreement for Product VS-Sense
Easton Pharmaceuticals Announces The Signing Of Closed Sub-Distribution Agreement for Product VS-Sense.
About this update from Easton Pharmaceuticals Inc
[{"type":"text","content":"\n\n Agreement Terms Include Several Up-Front Cash Payments Based On Milestones And A Time Limited Recurring Royalty Payment on Each Product Sold\n TORONTO, ON, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Easton Pharmaceuticals, Inc. (OTC: EAPH) and partner BMV Medica S.A. de C.V. is pleased to announce the signing of a closed sub-distribution agreement with the legal entity of BAYER’s Consumer Health Division for women’s diagnostic product known as VS-Sense, to treat Bacterial Vaginosis (BV) for the country of Mexico, currently licensed by Easton / BMV from Common Sense Ltd. of Israel. With the closing of the sub-distribution agreement, BAYER has advanced an up-front cash payment to Easton / BMV Medica and shall advance a further up-front milestone payment upon product launch in Mexico which includes the payment of royalties on each product sold for a five-year period.   Evan Karras, CEO of Easton Pharmaceuticals, stated, “This sub-distribution agreement with BAYER is a significant leap forward for the company and we are extremely pleased that together with our partner BMV Medica we are able to demonstrate that the patience and strategy in acquiring exclusive licenses 2 ½ years ago has now led to establishing a relationship with BAYER, one of the most globally recognized companies and brands.” Mr. Karras further commented, “With Easton / BMV now having secured a strong and world renown distribution partner in Mexico for “VS-Sense”, Easton is demonstrating that its Business Plan for its Women’s Diagnostic and Treatment segment is now bearing fruit and results, anticipated to substantially contribute to the future of Easton / BMV and its shareholders.” Products Overview: VS-Sense - VagiSense: is the current brand name of the BV (Bacterial Vaginosis) patented diagnostic test. Prestige Distribution is currently selling the product in the US under its brand, Monistat. Gynofit: European-Union approved natural treatment for Bacterial Vaginosis (BV), potentially eliminating the use of antibiotics in women with BV and promoting optimal vaginal health. BV is expected to affect the vast majority of women at some point in their lives. Currently selling through its sub-distribution partner Gedeon Richter Plc. AmnioSense: patented amniotic fluid leak test is a unique Point-...