Mute Expands Wholesale Distribution
Melbourne, April 30, 2015 AEST (ABN Newswire) - Rhinomed Ltd (
ASX:RNO) is pleased to announce it has continued to expand its Australian wholesale pharmacy distribution footprint with Sigma Pharmaceuticals Limited (ASX:SIP) to wholesale its Mute™ snoring and sleep quality technology.
This agreement builds on Rhinomed's announcement last month, that national pharmacy distributor Symbion was to support the entry of Mute™ into leading pharmacy chains.
"We look forward to bringing a good night's sleep to millions of Australians through partnership with Australia's trusted pharmacy sector. Australian pharmacy distribution is dominated by three national players. Rhinomed is now distributing through both Sigma and Symbion and these relationships mean that Mute™ can now reach the majority of the Australian pharmacy network," said Rhinomed CEO Michael Johnson.
Snoring statistics are extremely compelling: The US Sleep Foundation data shows that over 90 million American adults, or 37% of the adult population, snore. Snoring affects the sleep quality and wellbeing of even more people with over 64% of American households containing a snorer. Numbers are similar in Australia and the UK, but there are few effective, well-tolerated treatments and snoring usually continues untreated and unabated.
In December 2014, Rhinomed announced the results of its five-day in-home user trial (n=236) that showed Mute™ reduced the incidence of snoring in 75% of users and radically improved sleep quality in both snorers and their partners. Mute™ has been successfully registered with the Australian TGA, US FDA and has a CE Mark from the European Authorities.
"We are pleased by the response from both local and global distributors, who recognise Mute™ as one of the only technologies shown to reduce snoring in 75% of people. Mute™ addresses a vast global unmet need. Mute™ is very comfortable and far less invasive than other solutions."
"We confirm previous guidance that we would expect to see revenues from the Australian Pharmacy sector starting to flow in late Q4 FY15," said Johnson.
Mute™ will be retailed into the Australian market with a recommended retail price of $19.95 for a starter pack and $29.95 for the three-pack refill.
As a result of ongoing global distribution discussions, the company continues to assess opportunities that position Mute™ as the premium OTC solution for snoring and improved sleep quality in the billion-dollar global sleep category - currently estimated to be worth over US$32 billion.
"The expansion of our footprint within the Australian market builds the proposition for distribution into bigger offshore markets," said Johnson.
"We have received strong interest in the Mute™ technology from companies with strong market positions in the global sleep category and will update investors as this dialogue matures."
About Rhinomed Limited
Rhinomed Limited (ASX:RNO) is a Melbourne based technology firm with a focus on nasal, respiratory and breathing management technologies. The company is seeking to monetise applications of its technology portfolio in the Sport, Sleep, Wellbeing and Drug Delivery markets. For more information, go to www.rhinomed.global
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