Easton Pharmaceuticals Announces BAYER Agreement Update
As previously announced, Easton Pharmaceuticals, through its partner BMV Medica SA de CV, entered into an agreement with BAYER and its subsidiary company, BAYER Consumer Care of Switzerland, for a sub-distribution agreement for Easton / BMV’s licensed product known as VS-Sense for the territory of Mexico. After many inquiries from shareholders requesting further confirmation and updates, Easton can disclose and confirm its agreement has closed and that an initial cash payment from BAYER was received as per terms of its executed agreement. An additional payment is due upon product launch, as well as royalties paid on each product sold for a period of five years as per terms of its executed agreement. The launch date for VS-Sense, which will most likely be marketed and sold under a new BAYER brand name is in the planning stages and is BAYER’s sole responsibility and decision to make. Easton will provide additional detailed updates to its shareholders once Easton is officially notified by BAYER.
VS-Sense: is the current brand name of the BV (Bacterial Vaginosis) patented diagnostic test. VS-Sense is the same product BAYER licensed and launched in late 2015 in Europe under its brand, Canestest and Prestige Distribution is currently selling in the US under its brand, Monistat.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton has partnered with BMV Medica S.A. and together own the exclusive distribution rights in Mexico and parts of Latin America for two patented women's diagnostic products and a branded natural treatment for Bacterial Vaginosis. In addition, a generic cancer drug line is being developed for sale in Mexico. The Easton’s gel formulation is believed to be an innovative and unique transdermal delivery system that management believes can be adaptable to the delivery of other drugs and Cannabidiol extracts. Easton has entered into an agreement with Alliance, an Ontario, Canada based company, which includes a 50% ownership and 50% equity interest in a property located in Geogina Township, Ontario and two businesses which include aggregate and medical / recreational marijuana for the country of Canada.
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Source: Easton Pharmaceuticals Inc