Immuron Limited (ASX:IMC) partner for the sale of its travel sickness remedy Travelan, Paladin Labs, has launched the product in Canada.
It is estimated that there are over 5 million trips made by Canadians to at-risk regions every year, and 1 in 3 Canadian vacationers have experienced, or have travelled with someone who has experienced, travellers' diarrhoea.
Paladin’s launch follows the signing of a distribution agreement and regulatory approval for Travelan in Canada in November 2013.
That agreement included an upfront payment to Immuron and entitles Immuron to receive certain milestone payments based on Paladin’s commercialisation success, which are in addition to the transfer price payable for each unit of product sold by Immuron to Paladin.
Paladin has a proven track record in successfully marketing and selling a range of over-the-counter products.
Immuron's global Travelan sales generated in excess of $1 million revenue for the financial year ended June 30th 2014, seven times the company’s FY2013 Travelan revenues.
Immuron is capitalised at around $15 million and also has two phase 2 clinical programs in progress for the treatment of inflamed fatty liver disease and Alcoholic Steatohepatitis.
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