Innovus, Elis finalize Zestra agreement

Innovus Pharmaceuticals and Elis Pharmaceuticals have finalized a second exclusive license and distribution agreement for Zestra.
According to the agreement, Elis has been granted an exclusive license for the marketing and sell of Zestra in Lebanon from Innovus.
“We are very excited about this second commercial partnership collaboration with Elis,” Innovus President and CEO Bassam Damaj said. “Zestra was commercialized in Lebanon by Semprae Labs prior to being acquired by Innovus Pharma. We look forward to working with Elis Pharma to re-establish market presence of Zestra in Lebanon. We continue to be focused on executing on our goals of making our products commercially available in markets outside of the United States and achieving our goal of profitability in 2017.”
Innovus could potentially receive milestone payments for up to $2.25 million in addition to a transfer price that was part of the agreement.
“This second partnership highlights our excitement about Innovus Pharma’s unique and innovative products,” Elis Pharmaceuticals CEO Rashed Assouma said. “In this region Elis Pharma has over 1,000 products, including the exclusive license to Vitaros for erectile dysfunction licensed from Apricus Biosciences, and we have a dedicated sales force targeting urologists and gynecologists in Lebanon.”