Immuron Ltd (NASDAQ:IMRN, ASX:IMC) CEO Steven Lydeamore highlighted the strong growth in sales of oral immunotherapeutic products in the company's February 2023 business update presentation for investors.
Lydeamore noted that the company posted sales of $584,000 in H1 FY23, a growth of 153% compared to H1 FY22, with Australian sales contributing $287,000.
He added that the rebound in international travel has helped boost demand for Travelan® - a product that helps reduce the risk of travellers’ diarrhoea.
Refreshed corporate structure
Lydeamore said the company strengthened its executive team by recently bringing in Flavio Palumbo as chief commercial officer.
Palumbo has a background in consumer health not only in Australia but also in the UK and Asia in companies like GSK and P&G.
He is now in charge of growing Travelan® sales in the existing markets of Australia, Canada and the USA and will explore new markets including the UK, Europe and Asian markets.
Immuron’s clinical programs.
Lydeamore said that the company is going through a regulatory evaluation process to register Travelan in the UK and Europe.
He also talked about the company’s multiple clinical trial programs including a randomised clinical trial by Uniformed Services University which has recruited more than 20% of participants to evaluate the effectiveness of Travelan during deployment or travel to a high travellers’ diarrhea risk region.
Immuron is also engaged in active discussions with a number of Southeast Asian companies to grow Travelan sales in the Asian region.
