MELBOURNE, Australia, June 24, 2016 (GLOBE NEWSWIRE) -- Australian microbiome biopharmaceutical company Immuron Limited (ASX:IMC) (OTCQB:IMROY) today announced it has entered into a distribution agreement with QBID, one of the leaders in Australia-China e-commerce.
Both Travelan and Protectyn will be covered by the marketing/distribution agreement, with products to be made available on the sales platform from 1 June. The agreement provides for an exclusivity period of 2 years based on QBID achieving target sales volumes. QBID is an official Australian partner of JD.com for products sourced from Australia and New Zealand. JD.com is China's largest online direct sales company and offers a turnkey e-commerce platform for Australian product entry into China.
JD.com, Inc., is China’s leading online direct sales company and the country’s largest Internet company by revenue, with RMB462.7 billion ($93B) of products sold through its website and other channels in 2015. JD.com has more than 155 million active customer accounts and fulfilled approximately 1.3 billion orders in 2015. In addition to its partnership with JD.com, QBID also works directly with several other significant Chinese e-commerce platforms. QBID has a network of more than 8 multichannel service providers and direct access to WeChat and other boutique e-commerce channels. QBID’s strategic alliance with Hewlett Packard Enterprise to utilize their GPAS technology, enables brands to mitigate counterfeit risk and protect brand equity. Other QBID services include in-market digital & traditional media promotion, regulatory advice & services and logistics.
Travelan, Immuron’s natural product for the prevention of traveller’s diarrhea, holds direct relevance to the increasingly mobile Chinese population. In 2015, more than 104 million Chinese traveled outside of China and spent more than $130B overseas, an increase of 12% and 16.7% when compared to 2014. The primary destination of Chinese tourists is Asia and includes Japan, South Korea, Thailand and Vietnam. More than 50 million Chinese traveled through travel agencies. Capturing just 5% of these travelers, would represent a $70M+ annual revenue stream for Immuron.
The company’s product Protectyn, targeting liver and gut health, is ideally positioned to take advantage of current vitamin sales in mainland China. Driven by a rapid rise in obesity and fast food consumption, China has more than 130 million diabetics or 30% of the world’s diabetic population which is estimated at ~430 million adults. 35% of adults in China are now overweight, 7.3% are obese and nearly 24% are physically inactive. This has led to a dramatic increase of fatty-liver diseases, which has doubled over the last decade and is now estimated to affect 27% of the urban population. Partly as a result of this epidemic, the value of vitamin sales on the mainland has more than doubled during the past decade to more than $17bn and it is estimated that more than $200M of this market originates through e-commerce trades of Australian brands.
Immuron’s Chief Executive Officer, Mr Thomas Liquard, commented;
“Despite the challenges of establishing a long-term presence in China, accessing the Chinese consumer market has been an urgent priority for Immuron and we look forward to working with QBID, a established company that has a long and successful history of introducing Australian products to Chinese consumers. As natural products, supported by clinical trial results, Travelan and Protectyn are a strong fit for Chinese consumers looking for safe, effective and natural products.
In restructuring the Company’s approach to the Chinese market, the previous agreement with Linker Holding has been terminated and the company will be looking at other partners to pursue CFDA registrations for future products, as required.”
QBID founders and joint Managing Directors George Panagios and John Kilborn have extensive international careers in the pharmaceutical industry, and have had previous professional engagement with Immuron and its product portfolio.
George Panagios and John Kilborn added:
“We are delighted to be working with Immuron on the launch of Travelan and Protectyn into China. Both products have tremendous potential as confirmed by the market research we have performed on these unique products as well as on their respective categories. We look forward to work alongside our Chinese partners to maximize the potential of both products.”
QBID Pty. Ltd. (Quality Brands International Direct), is an international brand representation business with an emphasis on quality and unique brands wanting to expand reach while maintaining brand integrity. As Australian & New Zealand official agent for JD Worldwide, QBID has a focus on E-commerce opportunities in large and emerging markets including but not limited to China and India with established commercial networks also enabling B2C, B2B & O2O trade.
Immuron Ltd (ASX:IMC) (OTCQB:IMROY) is a microbiome company focused on developing and commercialising oral immunotherapeutics for the treatment of a many gut mediated diseases. Immuron has a unique and safe technology platform that enables a shorter development therapeutic cycle. The Company currently markets and sells Travelan® for the prevention of Travellers’ diarrhoea, whilst its lead product candidate IMM-124E is in Phase 2b clinical trials for NASH and ASH. These products together with the Company’s other preclinical immunotherapy pipeline products targeting immune-related diseases currently under development, will meet a large unmet need in the market.
For more information visit: http://www.immuron.com/
Certain statements made in this release are forward-looking statements and are based on Immuron’s current expectations, estimates and projections. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions are intended to identify forward-looking statements. Although Immuron believes the forward-looking statements are based on reasonable assumptions, they are subject to certain risks and uncertainties, some of which are beyond Immuron’s control, including those risks or uncertainties inherent in the process of both developing and commercialising technology. As a result, actual results could materially differ from those expressed or forecasted in the forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Immuron will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.
Company Contact: Thomas Liquard Chief Executive Officer AUS Ph: +61 (0)3 9824 5254 email@example.com Immuron US Investor Relations: Jon Cunningham RedChip Companies, Inc. US Ph: +1 (407) 644 4256, (ext. 107) firstname.lastname@example.org