Highlights:
MELBOURNE, Australia, Oct. 13, 2022 (GLOBE NEWSWIRE) — Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian based and globally integrated biopharmaceutical company that has developed two commercially available oral immunotherapeutic products for the treatment of gut mediated diseases, is pleased to announce that it has signed a strategic investment and option agreement with Ateria Health Limited, a U.K. based company that has developed ground-breaking product for the treatment of irritable bowel syndrome (IBS).
Steven Lydeamore, Chief Executive of Immuron commented: “We are delighted to have agreed this strategic investment in Ateria Health, which has developed and distributes a ground-breaking gut health product for the treatment of irritable bowel syndrome, JUVIA™. This investment allows Immuron to further strengthen its position in the broader IBS market and allows us to capitalise on opportunities working alongside Ateria, both in the UK and Australia.
Immuron will continue to focus on its strategy of expanding market verticals & product offering; growing its existing customer base; expanding its distribution network and sales & marketing of each product.”
Ateria Chief Executive Officer Neil Wickers added: “We welcome Immuron as a strategic investor in Ateria and look forward to exploring mutual benefits in supporting our respective products in the UK, Australia and other markets.”
Ateria Health overview
Ateria Health Ltd (Ateria) is a U.K.-based health and wellness company that has developed a market leading and novel IBS treatment product with distribution capability in the U.K. and Australian markets with research interests in Australia.
ERME™ is Ateria’s scientifically backed, and patent protected ingredient. It is derived from barley and comprises a mixture of natural plant-derived enzymes involved in breaking down and metabolising foods. The first commercial product is for the treatment of IBS. Ateria has launched its first brand JUVIA™, targeting IBS sufferers in Q3 CY22 in the U.K. Ateria has launched a direct-to-consumer platform (B2C) in the U.K. market and is seeking to strengthen B2B and B2C distribution of JUVIA™ through its partnership with Immuron in the Australian and North American markets.
Further details can be found at https://ateriahealth.com/ and https://juvia.me/
Strategic rationale
The strategic investment advances Immuron’s objective to enter the broader IBS market with leading products and strengthen the distribution of Immuron’s Travelan® products through B2C online platforms and pharmacy and retail channels (B2B) in target markets.
The strategic investment aligns with Immuron’s growth strategy and complements its existing travel diarrhea products also focused on “gut health” as follows:
Key terms of the subscription and option agreement include:
Possible distribution arrangements for reciprocal distribution of Travelan® and JUVIA™:
While there are no binding obligations on either party, Immuron and Ateria intend to explore possible arrangements for:
Both management teams recognise the value of collaboration and partnership.
Immuron growth strategy and outlook:
As Immuron communicated in its FY22 results presentation, the company has committed to a clear organic growth and M&A strategy. This strategic investment into Ateria Health is the first milestone in this journey.
Immuron’s M&A strategy is built on five pillars:
The Company looks forward to keeping the market updated on all material updates.
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
For more information visit: http://www.immuron.com
1 https://www.fortunebusinessinsights.com/digestive-health-market-104750
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