Altamira Therapeutics and Avernus Pharma Collaborate for Marketing and Distribution of Bentrio in Gulf Countries
Altamira Therapeutics Ltd. (NASDAQ:CYTO) announced a marketing agreement with Avernus Pharma Ltd. to distribute its nasal spray, Bentrio, in several Gulf countries. The product aims to protect against airborne viruses and allergens. Bentrio demonstrated a more than 99% reduction in SARS-CoV-2 viral load in laboratory tests and alleviated allergic rhinitis symptoms. Sales in the region are projected to begin in 2022 following regulatory approvals. This collaboration leverages Avernus' strong distribution network in the Middle East.
- Agreement with Avernus Pharma for distribution of Bentrio in Gulf countries.
- Bentrio shown to reduce SARS-CoV-2 viral load by over 99%.
- Expected sales to commence in 2022 following product registration.
- Sales contingent on regulatory approvals in the Gulf countries.
- Uncertainty regarding timelines for product registration and market entry.
HAMILTON, BERMUDA / ACCESSWIRE / February 7, 2022 / Altamira Therapeutics Ltd. (NASDAQ:CYTO), a company dedicated to developing therapeutics that address important unmet medical needs, announced today that it has entered into an agreement for the marketing and distribution of Bentrio™ (the "Agreement"), its nasal spray for protection against airborne viruses and allergens, with Avernus Pharma Ltd., Dubai ("Avernus") in the United Arab Emirates, Kingdom of Saudi Arabia, Kuwait, Qatar, Oman and Bahrain (the "Territories"). Under the Agreement, Avernus will start promoting and selling Bentrio™ in those markets upon registration of the product with the regulatory agencies in the Territories.
"We are very pleased to collaborate with Avernus to make Bentrio also available to consumers in the Gulf countries," commented Thomas Meyer, Altamira Therapeutics' founder, Chairman and CEO. "Avernus has a strong footprint and great network for the distribution of innovative medical device and drug products in the Middle East, and we very much look forward to working with their team. We expect to see first sales in the region beginning in 2022."
About Bentrio™
Bentrio™ (AM-301) is a drug-free nasal spray intended for personal protection against airborne viruses and allergens. Upon application into the nose, Bentrio™ forms a protective gel layer on the nasal mucosa. This thin film is designed to prevent the contact of viruses or allergens with cells; in addition, the composition serves to bind such particles and help with their discharge and to humidify the nasal mucosa. Together, this is designed to reduce the risk of upper respiratory tract viral infections and promote alleviation of allergic symptoms. In human nasal epithelium cells infected by SARS-CoV-2, Bentrio™ was shown to reduce the infectious viral load by more than
About Avernus Pharma
Headquartered in Dubai and part of the ZAS Group, Avernus has over 130 employees and operates as a sales, marketing and distribution organization across the Gulf region. Avernus' integrated and unique regional expertise, coupled with its strong regional network and well experienced team, position it as the regional commercialization partner of choice for pharma and biotech companies around the world. Additional information can be found on the company's website www.avernuspharma.com.
About Altamira Therapeutics
Altamira Therapeutics is dedicated to developing therapeutics that address important unmet medical needs. The Company is currently active in three areas: the development of RNA therapeutics for extrahepatic therapeutic targets (OligoPhore™ / SemaPhore™ platforms; preclinical), nasal sprays for protection against airborne viruses and allergens (Bentrio™; commercial) or the treatment of vertigo (AM-125; Phase 2), and the development of therapeutics for intratympanic treatment of tinnitus or hearing loss (Keyzilen® and Sonsuvi®, Phase 3). The Company was founded in 2003 and is headquartered in Hamilton, Bermuda with its main operations in Basel, Switzerland. The shares of Altamira Therapeutics Ltd. trade on the NASDAQ Capital Market under the symbol "CYTO."
Forward-looking Statements
This press release may contain statements that constitute "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. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Altamira Therapeutics' strategies or expectations. In some cases, you can identify these statements by forward-looking words such as "may", "might", "will", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "projects", "potential", "outlook" or "continue", or the negative of these terms or other comparable terminology. Forward-looking statements are based on management's current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include, but are not limited to, the approval and timing of commercialization of AM-301, Altamira Therapeutics' need for and ability to raise substantial additional funding to continue the development of its product candidates, the timing and conduct of clinical trials of Altamira Therapeutics' product candidates, the clinical utility of Altamira Therapeutics' product candidates, the timing or likelihood of regulatory filings and approvals, Altamira Therapeutics' intellectual property position and Altamira Therapeutics' financial position, including the impact of any future acquisitions, dispositions, partnerships, license transactions or changes to Altamira Therapeutics' capital structure, including future securities offerings. These risks and uncertainties also include, but are not limited to, those described under the caption "Risk Factors" in Altamira Therapeutics' Annual Report on Form 20-F for the year ended December 31, 2020, and in Altamira Therapeutics' other filings with the SEC, which are available free of charge on the Securities Exchange Commission's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Altamira Therapeutics or to persons acting on behalf of Altamira Therapeutics are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Altamira Therapeutics does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.
Investor contact:
Stephen Kilmer
(647) 872-4849
sjk@altamiratherapeutics.com
SOURCE: Altamira Therapeutics Ltd.
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FAQ
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