Altamira Therapeutics Secures Marketing & Distribution Agreements To Expand Sales Channels of Bentrio into Egypt and Pakistan
Altamira Therapeutics (NASDAQ:CYTO) has announced the signing of marketing and distribution agreements for its Bentrio™ nasal spray in Pakistan and Egypt. Partnering with deKhon Global in Pakistan and Vie Pharma in Egypt, the company taps into significant markets with populations of 242 million and 106 million, respectively. These agreements expand Bentrio's global reach beyond Europe, Asia, and the Middle East, enhancing its distribution network. Bentrio is a drug-free product aimed at providing protection against airborne viruses and allergens, already cleared for allergic rhinitis treatment in the US.
- Expansion into two large markets: Pakistan and Egypt.
- Distribution partnerships with established local firms enhance market penetration.
- Bentrio is FDA cleared for allergic rhinitis in the US, signaling regulatory confidence.
- None.
Two Additional Distributors Further Expand Company's Growing Global Footprint To Offer Its Bentrio Nasal Spray for Protection Against Airborne Allergens and Viruses
HAMILTON, BERMUDA / ACCESSWIRE / June 29, 2022 / Altamira Therapeutics Ltd. ("the Company") (NASDAQ:CYTO), a company dedicated to developing therapeutics that address important unmet medical needs, today announced that it has entered into marketing and distribution agreements in Pakistan and Egypt (the "Agreements") for Bentrio™, its nasal spray for protection against airborne viruses and allergens.
In Pakistan, Altamira has appointed Lahore-based deKhon Global (Pvt) Limited ("deKhon") to market and distribute Bentrio. Pakistan provides access to the world's fifth largest population of 242 million people with the second highest gross domestic product in South Asia.
In Egypt, the Company has appointed Cairo-based Vie Pharma to market and distribute Bentrio to the Egyptian market, which has over 106 million people, and is the third most populous country in Africa, being the Continent's second-largest GDP.
Together, the two distributors further expand Bentrio's global footprint by adding two large and growing countries to a distribution network that currently consists of major markets in Europe, Asia, and the Middle East.
"Unlike prescription medicines, the marketing and distribution of an over-the-counter medical product requires deep insight into the consumer culture of the target country as well as its regulatory landscape," said Thomas Meyer, Altamira Therapeutics' founder, Chairman and CEO. "Both deKhon and Vie Pharma know their domestic marketplace intimately and have successful track records. Both countries are large, experiencing outsized economic growth, and are outstanding complements to our Bentrio distribution market portfolio."
About Bentrio
Bentrio is a drug-free nasal spray 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. For more info, visit: https://altamiratherapeutics.com/our-products/bentrio
Bentrio is being distributed in selected European and Asian countries and is expected to become available through distributors in further countries in Europe, Asia and MENA. In the US, in June Altamira received FDA 510(k) clearance of Bentrio in the treatment of allergic rhinitis.
About deKhon Global (Pvt) Limited
deKhon Global is part of Remington Pharmaceuticals which is the first and only nationally owned company in Pakistan to attain WHO-Geneva prequalification approval status for a finished pharmaceutical product. deKhon Global, located in Lahore, Pakistan, the second largest city in the country, is dedicated to market innovative medical devices and healthcare products to meet the country's demand for quality medical facilities. The business is creating critical partnerships to bring breakthrough medical solutions where they are needed the most. deKhon has established a strong and fast-growing network of global alliances to market advanced medical solutions to meet the country's demand for innovative high-quality products. deKhon aims to be at the forefront of providing advanced, innovative and safe medical solutions and future plans are elaborately directed to provide high quality products for various medical specialties. The business has also received significant appreciation from doctors and patients. For more information, visit: https://dekhon.com/
About Vie Pharma
Vie Pharma, headquartered in Cairo, Egypt, is s a regional specialty company established to bridge the access gap and partner with global pharma and biotech companies to in-license and commercialize FDA or EMA-approved innovative pharmaceutics, biologics, and other healthcare solutions into the Middle East (ME). The business serves as a one-stop-solution for partners providing multi-country access across a wide region with growing economies but complex regulations and access hurdles. The existing product portfolio was built by successful and respected industry leaders with strong local and international track records to address unmet medical needs in the region and enabled the company not only to gain a sound market share but also to help patients gain access to these much-needed medications. In addition, Vie Pharma has competencies in the areas of regulatory, medical, pharmacovigilance, and commercial capabilities acquired through years of experience in multinational pharma. The Vie Pharma team is also well-connected to a wide range of partners and key stakeholders in and out of the region and offers a flexible approach to joint-ventures and partnerships. For more information, visit: www.vie-pharma.net
About Altamira Therapeutics
Altamira Therapeutics (NASDAQ:CYTO) 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 for 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). Founded in 2003, it is headquartered in Hamilton, Bermuda, with its main operations in Basel, Switzerland. For more information, visit: https://altamiratherapeutics.com/
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, 2021, 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.
CONTACT:
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SOURCE: Altamira Therapeutics
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