Omni Innovation gets green light for multi-country distribution deal
Health & Biotech
Health & Biotech
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Special Report: Omni Innovation, an Australian company specialising in medical nutrition, 38% owned by Eve Investments, has entered a licencing agreement with Myopharm Limited.
Omni Innovation, partially owned by Eve Investments (ASX:EVE) has entered into a 15-year licensing agreement with Myopharm Limited, an Australian p reclinical muscle disease research company developing treatments that activate muscle growth.
The agreement will see Omni Innovation obtain a 15-year licence for the manufacture, marketing and distribution of Omni’s foundation product Gluco Smooth; a clinically proven pre-meal glycaemic control product for Type 2 diabetes and Pre-Type 2 diabetes, throughout Australia, mainland China and the UK and Europe.
The deal with Myopharm will see the product sold through a prescription channel in Australia and Europe, with launch impending this year. The agreement is made up of a mixture of upfront and deferring licencing fees and an ongoing royalty on product sales.
During this time Omni Innovation is still free to pursue other licencing agreements in other territories such as the USA and India, two populations with large numbers of people living with diabetes and pre-diabetes.
Managing director Bill Fry said this new licencing agreement is very encouraging.
“We are excited to see Myopharm take on the licence in these territories and roll out its prescription channel model for this unique, scientifically validated product.”
This announcement closely follows Meluka Australia’s further expansion into the US which saw two of its honey products added to the product catalogue of Whole Foods Market in Northern California.
Eve Investment’s share price took a leap on Monday, increasing by 11% and since the start of 2021 it has seen an approximate 40% increase.
This article was developed in collaboration with Eve Investments, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.