In a statement released April 26, publicly-traded Emergence client, Hamilton, Ontario- and Charlottetown, PEI-based Delivra Corp., recognized the support it has received from Emergence for recent consumer research that led to the development of a new product strategy.
In its statement, Delivra announced that it has “successfully developed and tested line-extension products using its precision topical delivery system platform.”
Some of the company’s new consumer product initiatives will include cannabis-related over-the-counter (“OTC”) and prescription products.
According to Delivra: “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 complement 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.”
Both the consumer evaluation project 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 Emergence director, Martin Yuill, “Our clients benefit from access to business, technical, scientific and regulatory support services customized to meet their individual needs.”
This includes one-on-one and team-based mentorship; third-party consulting services; market research and intelligence; legal, IP, insurance, tax and financial expertise from a network of professional service provider partners; and support accessing international networks and public and private funding and investment.
“I am thrilled that Delivra is converting the support it has received through the various pillars of Emergence into both scientific and commercial success,” Yuill says.
As a virtual incubator Emergence serves high-potential companies wherever they are located in Canada; while also providing a “soft landing” for innovative international bioscience ventures seeking to start-up or establish themselves in, or expand into, Canada.
According to Delivra, the consumer evaluation project that was supported by Emergence affirmed “that Delivra’s novel proprietary delivery system can achieve further gains within the chronic pain and sleep/anxiety markets.”
Delivra anticipates that the acceleration in the growth of sales of its LivRelief brand, specifically in the topical OTC category. This 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.”
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.
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 LivReliefTMbrand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and under the LivSportTMbrand for sports performance. LivReliefTMproducts 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.