Hamilton, Ontario- and Charlottetown, PEI-based Emergence client, Delivra Corp., has announced that it has “successfully developed and tested line-extension products using its precision topical delivery system platform.”
These consumer product initiatives include cannabis-related over-the-counter (“OTC”) and prescription products.
Delivra says in a statement released April 26 that it developed its strategy “with the assistance and support of Emergence“. You can read the full statement here!
“With the assistance and support of Emergence, Canada’s virtual incubator that supports the growth of innovative bioscience and food sector ventures, Delivra has developed its strategy and executed on ready to use products for OTC line extensions that will compliment its already existing successful LivRelief products, and is ready for the upcoming legalization of cannabis with its vast array of cannabis-related products for third party distributors for different disease indications,” the company’s statement says.
Both the consumer evaluation exercise and the subsequent development of Delivra’s new strategy were supported by Emergence through our “Specialist Services” program, which helps incubator clients access expert services provided by a third-party consultants. Specialist services are co-funded jointly by the client and Emergence.
According to Delivra, the consumer evaluation project that the company undertook with the support of Emergence affirmed “that Delivra’s novel proprietary delivery system can achieve further gains within the chronic pain and sleep/anxiety markets.”
The company says that its current sales and gross margins outperform several competing brand names in the pain segment, and the acceleration of the LivRelief suite of products is expected “to be met with success.”
Delivra anticipates that the acceleration of LivRelief sales growth in the topical OTC category will involve both the development of additional unique SKUs at existing accounts, together with an enhancement of its distribution channels, which currently stand at over 5,200 pharmacy, grocery and natural products stores.
“Overall, the evaluation affirms that Delivra’s targeted relief system can achieve significant gains within the chronic pain market.”
“As part of our newest marketing initiative, we will focus on further increasing brand awareness, bolster marketing and distribution efforts and providing innovative packaging of our currently successful suite of consumer products.” Dr. Joseph Gabriele, CEO of Delivra, told us.
Driving increased sales with a proprietary suite of innovative products remains one of the company’s key strategic focus areas.
“This reaffirms our commitment to further develop and commercialize our expanding pipeline of cream-based therapeutics across Canada and we thank Emergence for their ongoing support of Delivra and its vision,” said Dr. Gabriele.
Delivra is a publicly traded company, listed on the TSX Venture Exchange under the symbol DVA. In April 2018, Delivra reported that in the twelve months ended December 31, 2017 it had record sales of $4,513,253, representing 20% sales growth over 2016.
In November 2017 Delivra reported OTC sales of $923,850 for the quarter and $3,297,836 for the year-to-date, representing a 47% and 21% growth over the comparative periods, respectively.
ABOUT DELIVRA CORP.
Delivra Corp. is a specialty biotechnology company having a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules through the skin, in a targeted manner. Delivra manufactures and sells a growing line of natural topical creams with the proprietary transdermal delivery system platform under the LivRelief brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and under the LivSport brand for sports performance. LivRelief products are available in pharmacies, grocery chains, and independent health food stores across Canada, including, but not limited to, Shoppers Drug Mart, Walmart, Loblaw, Rexall, Pharmasave, London Drugs, and on-line at www.livrelief.com. In parallel with its consumer products business, Delivra also has a mandate to license its patent-pending, proprietary transdermal delivery technology platform to pharmaceutical companies globally, for the repurposing of pharmaceutical molecules transdermally to treat a broad range of conditions, along with licensing its over-the-counter products globally. Delivra is headquartered in Hamilton, Ontario and has a research and development laboratory in Charlottetown, PEI.