ViaDerma, Inc. Provides Updates on Current Business Activities

Rhea-AI Summary

ViaDerma, Inc. (OTC Pink: VDRM) has finalized a ten-year licensing agreement worth $12 million with a company in Dubai, granting exclusive rights to sell its products in the Middle East. The first payment of $600,000 is expected by August 5, 2021. Additionally, ViaDerma's partnership with a home health wound care network has expanded across nine states, generating $45,000 monthly in royalties. The company plans to hire an auditing firm within 30 to 60 days for financial audits necessary for an OTCQB listing application later this year.

Positive

• Finalized a $12 million licensing agreement in Dubai.
• First semiannual payment of $600,000 initiated.
• Expansion to nine states increases monthly revenue to $45,000.
• Plans to hire PCAOB-registered auditing firm to audit financials.

Negative

• None.

The Company has finalized a ten-year $12 million licensing agreement with a Dubai Company

LOS ANGELES, June 24, 2021 (GLOBE NEWSWIRE) -- ViaDerma, Inc., (“Company”) (OTC Pink: VDRM), is pleased to provide an update on current business activities.

• The Company has finalized a ten-year $12 million licensing agreement in Dubai. Under the terms of the agreement ViaDerma grants licensing rights to sell ViaDerma based products throughout the Middle East. The first semiannual payment of $600,000 has been initiated and will be available to ViaDerma on or before August 5, 2021.
  
  
• ViaDerma’s licensing agreement with a home health wound care network has now expanded to nine states: CA, NV, AZ, TX, TN, GA, OH, FL, IL. As part of the agreement ViaDerma receives royalties of $5000 per month for each state and are on track to reach their target of 16 states by year end. With the newly added state ViaDerma’s monthly revenue from the agreement has increased to $45,000 per month.
  
  
• The Company expects to hire a qualified auditing firm registered with the Public Company Accounting Oversight Board (PCAOB) within the next 30 to 60 days to complete an audit of ViaDerma’s financials. Audited financials are required before ViaDerma can make application for listing on the OTCQB later this year.
  

About ViaDerma, Inc.
ViaDerma, Inc. (OTC: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative technology to current leaders in the pharmaceutical industry in a wide variety of therapeutic areas. For more information, visit: www.viadermalicensing.com

Any forecast of future performance is a "forward looking statement" under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment.

Contact information:
Investor Relations
Email:  info@viadermalicensing.com
Phone: 310-734-6111
Follow us on Twitter: ViaDerma Official @viaderma
Like us on Facebook: ViaDerma-VDRM @viadermapharma

 

FAQ

What is the licensing agreement ViaDerma secured recently?

ViaDerma has finalized a ten-year licensing agreement worth $12 million with a Dubai company, allowing exclusive sales rights for its products in the Middle East.

How much will ViaDerma earn from the new Dubai licensing agreement?

ViaDerma will earn $12 million over the term of the licensing agreement, with the first payment of $600,000 expected by August 5, 2021.

What are the new states ViaDerma is operating in?

ViaDerma has expanded its licensing agreement with a home health wound care network to nine states: CA, NV, AZ, TX, TN, GA, OH, FL, and IL.

How much revenue does ViaDerma generate from its home health wound care network?

ViaDerma generates $45,000 per month from its expanded home health wound care network agreement.

What are ViaDerma's plans for financial audits?

ViaDerma plans to hire a PCAOB-registered auditing firm within 30 to 60 days to conduct an audit of its financials.