SOURCE: Easton Pharmaceuticals Inc.

Easton Pharmaceuticals Inc.

May 10, 2016 05:00 ET

Easton Pharmaceuticals Announces It Has Moved Toward Signing Sales & Distribution Agreement With Women's Health-Focused Multi-National European Pharma Company for Its VS-Sense, AL-Sense and Gynofit Products

TORONTO, ON--(Marketwired - May 10, 2016) - Easton Pharmaceuticals Inc. (OTC PINK: EAPH), together with their commercial alliance partner BMV Medica SA de CV announces it has initiated partnership negotiations for Mexico and Latin American Sales & Marketing of its suite of women's health products with a multi-national Europe-based Pharma company, currently operating in over 38 countries world-wide.

Easton and its partner BMV Medica S.A de C.V have been in formal discussions over the last several months with a Europe-based Multi-National Pharma company who currently has a successful foothold within 38 countries, including Mexico, with specialized Women's Health products. The negotiations have progressed well with interest being high, which has now resulted with both companies moving toward signing a final agreement whereby this company would use its large marketing and distribution resources to take over and spearhead all marketing and distribution of Easton/BMV's VS-Sense, AmnioSense and Gynofit products beginning with Mexico. A final agreement would most likely be executed with the products being launched in stages starting with Gynofit as its first product launch. The regulatory approvals for the VS-Sense and AL-Sense products from the Mexican Ministry of Health is imminent with Gynofit already approved for sale. Although Easton is not at liberty at this time to disclose terms or names, the European multi-national company currently has sales in the Billions of Dollars throughout 38 countries. A partnership with such a company would provide Easton Pharmaceuticals with a significant increase in projected sales than if Easton was to proceed alone. Current projections from the European based company have sales for Gynofit alone at $7,000,000 within 12 months of product launch.

Easton/BMV were notified through Ackerman Pharma, the filing of its patented, point-of-care, VS-Sense Diagnostic test through "fast-track" third-party authorized reviewer Defi Latina Healthcare, S.A. de C.V. for regulatory approval in Mexico. Since submission, Defi Latina -- one of only few authorized third-party reviewers licensed by the Ministry of Health in Mexico to review and pre-approve Regulatory dossiers prior to submission -- has and continues to undergo a detailed review of the regulatory dossier for VS-Sense, a unique point-of-care vaginal discharge diagnostic test called VagiSan in Mexico. VagiSan is the brand Easton/BMV plan to launch in Mexico and Latin America, and is the same product Bayer Pharmaceuticals had licensed and launched recently in Europe under its brand Canestest, and Prestige Distribution in the US has launched under its brand Monistat, with multi-million dollars in sales.

In Mexico, the "fast-track" review process through authorized third-party reviewers can speed up approval times from several years to a few short months if the regulatory dossier is complete. Easton/BMV have worked diligently over recent months with the manufacturer CommonSense LTD of Israel, to ensure a complete dossier is in place, and expect an approval to be granted before the planned launch date of third quarter, 2016.

Prior to the VS Sense Diagnostic test regulatory filing submission, Easton/BMV Medica announced a first-order of the CommonSense products with the total number of units ordered at 230,000 -- 90,000 of the VS-Sense and 140,000 of the AmnioSense -- enough product for launch and three-six months of sales. The AmnioSense diagnostic test as well as the Gynofit bacterial vaginosis treatment are already approved in Mexico through third-party consultants, and these Marketing Authorizations (MAs) are being transferred to Easton/BMV so all three products can be launched at the same time. The European multi-national pharma company anticipates placing an initial order for Gynofit once the final agreement has been executed.

Easton/BMV anticipate the bulk of its sales initially from the Obstetrician/Gynecologist community in Mexico and have already received their first orders following the presentation of these new products this past November at the OB/GYN conference in Acapulco, attended by approximately 4,000 of the 7,000 gynecologists in Mexico.

The Amnio-Sense diagnostic product currently approved for sale in Mexico is owned exclusively for Mexican sales by Easton's partner BMV Medica, but Easton owns together with BMV the rest of Latin America sales, and Easton is in high level discussions with BMV to include AmnioSense for Mexico in the agreement currently in place.

About Easton Pharmaceuticals

Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries such as medical marijuana. The Company previously developed and owned an FDA approved wound-healing drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton has partnered with BMV Medica and owns 50% of the exclusive distribution in Mexico and Latin America for patented women's diagnostic products and two generic cancer products. Easton has made additional investments into AMFIL Technologies, a company who own rights to a product called the groZONE anti-microbial airflow system for the medical marijuana and other industries. The company's gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of other drugs and Cannabidiol extracts.

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This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when certain words or phrases such as "hope", "positive", "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals would be classified as speculative and may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.

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