Immuron North American revenue surges by 52% in FY19
July 16 2019 - 6:00AM
Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian
biopharmaceutical company focused on developing and commercializing
oral immunotherapeutics for the treatment of gut mediated diseases,
today announced sales results for the year ended 30 June 2019
(‘FY19’) for its commercially available products, including
Travelan®, the over-the-counter gastrointestinal and digestive
health supplement.
Travelan® sales experienced impressive growth in
North America in FY19 as revenue surged by 52%, and reached $1.16M*
AUD.
In the USA, Travelan® FY19 revenue exceeded the
$1M milestone for the first time, as sales grew strongly by 32% YoY
to $1.02M* AUD. This was partly attributable to continued sales
growth of 37% in the Passport Health Travel Clinic network, which
boasts 270 branches across the USA. During FY19, Immuron featured
on two podcasts on the US based ‘Not Old, Better’ channel. This
included an interview with Dr. Hailey Weertz from the US Department
of Defense, in which she spoke of the ground-breaking research into
Travelan® by the Walter Reed Army Institute of Research (WRAIR).
Both podcasts resulted in an immediate spike in sales of Travelan
of Amazon, with this online category growing by almost 80% in FY19.
May 2019 represented a record-breaking month for Travelan sales in
the USA with revenue climbing to $182K* AUD.
Travelan launched strongly into the Canadian
market in Q3 FY19, with sales of over $100K* AUD recorded in Q4 of
FY19. The major Canadian Pharmacy chain Shoppers Drug Mart was the
first banner to range the product.
Global Immuron revenue expanded by a robust +29%
YoY in FY19, reaching a record-breaking $2.6M* AUD. In Australia,
FY19 total sales before rebates were recorded at $1.44M* AUD,
showing continued growth and a +15% increase YoY. Increased
initiatives in the Pharmacy sector, including TV advertising with
Chemist Warehouse and stronger merchandising in-store, contributed
to this sales momentum.
“During the 2019 fiscal year, Immuron added to
the ongoing successful efforts in Australia by working hard to
increase awareness of Travelan® amongst North American consumers,
using podcasts and collaborations with travel bloggers to educate
and inform the market regarding the virtues of our product,” said
Dr. Gary Jacob, CEO of Immuron Ltd. “The new 2020 fiscal year will
see our efforts ramp-up even further in North America as we expand
distribution channels and work to further consumer demand in that
very important geographic area using pull-through marketing
campaigns and other forms of advertising.”
*Unaudited gross revenue
ABOUT IMMURON:
Immuron Limited (ASX: IMC, NASDAQ: IMRN), is an
Australian biopharmaceutical company focused on developing and
commercializing orally delivered targeted polyclonal antibodies for
the treatment of inflammatory mediated and infectious diseases.
Immuron has a novel and safe technology platform with one
commercial asset generating revenue. In Australia, Travelan® is a
listed medicine on the Australian Register of Therapeutic Goods
(AUST L 106709) and is indicated to reduce the risk of Travellers’
Diarrhea, reduce the risk of minor gastro-intestinal disorders and
is antimicrobial. In Canada, Travelan® is a licenced natural health
product (NPN 80046016) and is indicated to reduce the risk of
Travellers’ Diarrhea. In the U.S., Travelan® is sold as a dietary
supplement for digestive tract protection in accordance with
section 403 (r)(6) of the Federal Drug Administration (FDA).
Immuron’s lead clinical candidate, IMM-124E, is presently in Phase
II trials in Severe Alcoholic Hepatitis (SAH) and Pediatric
Nonalcoholic Fatty Liver Disease (NAFLD). The company now has plans
to develop a U.S. registration dossier for IMM-124E for Travellers’
Diarrhea. Immuron’s second clinical-stage asset, IMM-529, targets
Clostridium difficile Infections (CDI), and is presently in a
clinical trial in CDI patients. These products together with the
Company’s other preclinical immunotherapy pipeline products
currently under development targeting immune-related and infectious
diseases are anticipated to meet pressing needs in the global
immunotherapy market.
For more information visit:
http://www.immuron.com
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:
Gary S. Jacob, Ph.D.
Chief Executive Officer
Ph: +61 (0)3 9824 5254
info@immuron.com
AUS INVESTOR RELATIONS:
Peter Taylor
NWR Communications
Ph: +61 (0)4 1203 6231
peter@nwrcommunications.com.au
USA INVESTOR RELATIONS:
Dave Gentry - CEO
RedChip Companies, Inc.
US Ph: +1 (407) 491 4498
dave@redchip.com
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