Immuron Reports Record Revenue Exceeding AU$2 million for the FY18 year
July 25 2018 - 10:00AM
Key Highlights:
Immuron Limited (ASX:IMC) (NASDAQ:IMRN), an Australian microbiome
biopharmaceutical company focused on developing and commercializing
orally delivered targeted polyclonal antibodies for the treatment
of inflammatory mediated and infectious diseases, is today pleased
to announce the sales results of Travelan®, its commercially
available, over-the-counter gastrointestinal and digestive health
supplement, for the fiscal year ended June 30th, 2018.
The strong sales of Travelan® in the previous
three quarters continued into the fourth quarter in both Australia
and the US, enabling Immuron Ltd to achieve AU$2million in sales
revenue for FY18. This represents a 29% increase over FY17.
US Travelan® sales performance continued its
robust performance achieving full year sales of AU$765k which is an
outstanding 114% increase over FY17. Overall results were assisted
by exceptional fourth quarter sales of AU$265k which is a 47%
increase over the same period last year.
In Australia, fourth quarter Travelan® sales
also enjoyed success achieving AU$350k, a 53% increase over the
same period last year. Full year sales results for Australia
achieved a 19% increase over FY17.
“We are excited to see consistently improving
sales growth for Travelan® in Australia and more importantly in the
USA” said Dr Jerry Kanellos, CEO of Immuron Ltd. “Our focused
marketing efforts demonstrated by the team are helping to build
awareness and educate both consumers and travel medicine clinicians
on the benefits of Travelan®. We are confident that our sales
growth will continue as our marketing strategy builds upon this
exposure”.
ABOUT IMMURON:
Immuron Limited (ASX:IMC) (NASDAQ:IMRN), is an
Australian microbiome biopharmaceutical company focused on
developing and commercializing orally delivered targeted polyclonal
antibodies for the treatment of inflammatory mediated and
infectious diseases.. Immuron has a unique and safe technology
platform that enables a shorter development therapeutic cycle. The
Company currently markets and sells Travelan® for the prevention of
Travelers’ Diarrhea and its lead clinical candidate, IMM-124E, is
in Phase II clinical trials for Non-Alcoholic
Steatohepatitis (NASH), Severe Alcoholic
Hepatitis (SAH) and Pediatric Nonalcoholic Fatty
Liver Disease (NAFLD). Immuron’s second clinical
stage asset, IMM-529, is targeting Clostridium difficile
Infections (CDI). These products together with the
Company’s other preclinical immunotherapy pipeline products
targeting immune-related diseases currently under development, will
meet a large unmet need in the global immunotherapy market.
For more information visit:
http://www.immuron.com
About Travelan®
Travelan® is an orally administered passive
immunotherapy that prophylactically reduces the likelihood of
contracting travellers’ diarrhoea. Travelan® is a highly purified
tabletised preparation of hyper immune bovine antibodies and other
factors, which when taken with meals bind to diarhoea-causing
bacteria and prevent colonization and the pathology associated with
travellers’ diarrhoea. In Australia Travelan® is approved by the
Therapeutic Goods Administration (TGA) as a listed medicine on the
Australian Register of Therapeutic Goods (AUST L106709) and is
indicated to reduce the risk of travellers’ diarrhoea and
associated symptoms of minor gastrointestinal disorders. In the USA
Travelan® is sold as a dietary supplement in accordance with
section 403 (r)(6) of the Federal Drug Administration (FDA).
FORWARD-LOOKING STATEMENTS:
This press release may contain “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934,
each as amended. Such statements include, but are not limited
to, any statements relating to our growth strategy and product
development programs and any other statements that are not
historical facts. Forward-looking statements are based on
management’s current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating
results, financial condition and stock value. Factors that could
cause actual results to differ materially from those currently
anticipated include: risks relating to our growth strategy; our
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; risks relating to the
results of research and development activities; risks relating to
the timing of starting and completing clinical trials;
uncertainties relating to preclinical and clinical testing; our
dependence on third-party suppliers; our ability to attract,
integrate and retain key personnel; the early stage of products
under development; our need for substantial additional funds;
government regulation; patent and intellectual property matters;
competition; as well as other risks described in our SEC filings.
We expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in our expectations or any
changes in events, conditions or circumstances on which any such
statement is based, except as required by
law.
COMPANY CONTACT:
Jerry Kanellos
Chief Executive Officer (Interim)
Ph: +61 (0)3 9824 5254
jerrykanellos@immuron.com
USA INVESTOR RELATIONS:
Jon Cunningham
RedChip Companies, Inc.
US Ph: +1 (407) 644 4256, (ext. 107)
jon@redchip.com
AUS INVESTOR RELATIONS:
Peter Taylor
NWR Communications
Ph: +61 (0)4 1203 6231
peter@nwrcommunications.com.au
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