Immuron FY23 Sales increase 136% on FY22 Sales

Highlights:

• Australian FY23 sales of A$1.16 M (478% increase on FY22 sales)
• USA FY23 Travelan® sales of A$643 k (28% increase on FY22 sales)
• Global FY23 sales of A$1.80 M (136% increase on FY22 sales)
  

MELBOURNE, Australia, July 05, 2023 (GLOBE NEWSWIRE) -- Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian based and globally integrated biopharmaceutical company is pleased to announce FY23 sales (unaudited net sales) results of its over-the-counter gastrointestinal and digestive health immune supplement Travelan® and Protectyn®.

Sales of Travelan® and Protectyn® increased by 136% in FY23 to AUD $1.80 M, compared to AUD $765 k in FY22.

In Australia, Travelan® and Protectyn® sales for FY23 were AUD $1.16 M, a 478% increase on FY22 sales (AUD $201 k). Travelan® sales increase as overseas travel rebounds. Australian resident short term departures in April 2023 were 82% of those in April 2019 (Australian Bureau of Statistics).

Immuron previously reported that strong sales of Travelan® may result in short term stock outages in some wholesalers and pharmacies in the June 2023 quarter. This did occur. While Immuron does have inventory of Travelan® Australia ready to release, it is unable to do so until it has received GMP Clearance from the Therapeutic Goods Administration (TGA). Even though Immuron has transferred and validated the transfer of packaging to another supplier which has a valid/current GMP certificate from the TGA, the TGA is unable to give Immuron a timeline for GMP Clearance. The TGA advises that it is experiencing extremely high volumes of GMP Clearance extension applications which is resulting in delays to processing timeframes.¹ Immuron shall continue to press for an early resolution of this issue with the TGA.

USA Travelan® FY23 sales were AUD $643 k, a 28% increase on FY22 sales (AUD $501 k). This growth was attributable to increasing sales in both Passport Health Travel Clinics and distributor sales. FY23 sales were impacted by supply constraints. These have been resolved. Immuron has inventory of Travelan® USA on hand, sufficient to meet the needs of its current customers and to expand into new market segments. Immuron has shipped inventory to Amazon with launch anticipated in the next couple of weeks.

Immuron is focused on growing sales of its commercial products, expanding its portfolio of products and has a strong existing pipeline.

1. Australian Government Department of Health and Aged Care Therapeutic Goods Administration
   

This release has been authorised by the directors of Immuron Limited.

COMPANY CONTACT: Steven Lydeamore Chief Executive Officer Ph: +61 (0)3 9824 5254 info@immuron.com

About Immuron
Immuron Limited (ASX: IMC, NASDAQ: IMRN), is an Australian biopharmaceutical company focused on developing and commercializing orally delivered targeted polyclonal antibodies for the treatment of inflammatory mediated and infectious diseases.

For more information visit: http://www.immuron.com