VTL Executes Agreement with Continuum Sciences LLC
Sydney, Feb 25, 2022 AEST (ABN Newswire) - VGI Health Technology Limited (
NSX:VTL) is pleased to announce that its wholly-owned US subsidiary, Invictus Nutraceuticals, Inc. (IVN), has executed a Sales Representative Agreement with Continuum Sciences LLC of Colorado.
Continuum Sciences has a successful track record of placing innovative human consumer health products into major retailers in the US including Costco, Vitamin Shoppe, Walmart, Walgreens and Target. Through this Agreement, IVN is fast-tracking its retail market entry in the US and gaining access to retailers which would have otherwise required a much higher level of investment of capital and time by IVN.
The Agreement between IVN and Continuum prescribes a range of commissions based on the gross invoice price of the products sold to the retailers by IVN as well as fees associated with marketing.
Mr Mark Miller, The President of Continuum Sciences said: "When IVN's NE1-Heart(R) and NE1-Elite(R) were presented to me for the first time, I was immediately impressed with the innovation around these products and also the fact that they are clinically proven and patented. We only see this type of product once in a while and we are very excited about bringing them to our network of major retailers."
Mr Richard Estalella, the President and CEO of IVN said "Having successfully built a large nutraceuticals business in the US, I have learnt the hard way that if you can do a deal to minimise the investment in establishing a sales force from the ground up and entering into commercial agreements with major retailers, you are well on your way to success. This deal with Continuum Sciences achieves exactly this: it helps IVN gain a foothold into the major retailers without having to employ a large sales force of its own."
About VGI Health Technology Limited
VGI Health Technology Limited (NSX:VTL) is an Australian public listed biotechnology company developing and commercialising novel dietary supplements and prescription medicines based on natural products (tocotrienols) which have wide therapeutic potential, including: Delayed Onset Muscle Soreness, muscle recovery, exercise endurance, Non-Alcoholic Fatty Liver Disease (NAFLD), Non-Alcoholic SteatoHepatitis (NASH), pancreatic cancer, hyperlipidaemia, hypertension and diabetes. VTL owns and controls patent and other intellectual property rights for novel approaches to non-invasively delivering tocotrienols directly to the target tissues. The Company has a product development program for evidence-based nutraceuticals and a clinical development program for prescription medicines.
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