MELBOURNE, Australia, June 29, 2016 (GLOBE NEWSWIRE) -- Australian microbiome biopharmaceutical company Immuron Limited (ASX:IMC) (OTCQB:IMROY), today announced that the Company has executed a distribution agreement with McKesson Corporation, the worldwide leader in the distribution of pharmaceuticals and medical products to retail pharmacies, as well as institutional providers including hospitals and other health systems throughout North America. McKesson is the world’s 11th largest company by revenues (US$179B USD in revenue in 2015) and is also the largest healthcare distribution company in the world.
Immuron’s first customer to be gained through its agreement with McKesson is the Bi-Mart Corporation, a former subsidiary of Rite Aid, which will carry Travelan throughout its network of stores and pharmacies.
Bi-Mart Corporation is an employee-owned group of retailers located in the states of Oregon, Washington and Idaho. A typical Bi-Mart store is approximately 3,000 meters square and includes a drug store, pharmacy and other merchandise including electronics, housewares and personal care products. With 75 retail stores across the U.S. Northwest region, Bi-Mart offers exceptional experience, quality products and superior customer service to meet the needs of their customers.
Founded in 1955, Bi-Mart is one of the pioneers of membership discount shopping. Members pay a one-time fee for a lifetime family membership which entitles them to shop at any Bi-Mart store. With over 3,500 employees, Bi-Mart ranks 19th amongst discount and value retailers and is the 9th largest discount store pharmacy in the United States.
As the result of this agreement, Immuron can now partner with McKesson to increase Travelan’s awareness throughout McKesson’s network of thousands of customers and, importantly, attend McKesson-only tradeshows such as McKessonIdeaShare. As a result of the relationship, Immuron is already in negotiation with other McKesson customers.
Commented Thomas Liquard, the CEO of Immuron;
“We are extremely excited to be part of the McKesson network and we look forward to working with McKesson to ensure that Travelan is made available to the thousands of customers that McKesson serves daily.
Bi-Mart has consistently taken a thoughtful approach to selecting new products that are differentiated and bring value to their customers. We are thrilled to have gained their trust and we look forward to being part of the Bi-Mart offering for years to come.”
Travelan’s active ingredient is Hyperimmune Bovine Colostrum Powder, a rich source of antibodies that bind to Enterotoxigenic E. coli in the gastrointestinal tract, preventing them from attaching to the intestinal wall and thereby neutralising their ability to cause Travellers’ diarrhoea and its associated symptoms. Travelan’s formulation has also been shown to bind to other gram-negative bacteria such as shigella and salmonella.
Hyperimmune Colostrum is developed under Immuron’s proprietary technology to create high titers of antibodies to a range of E. coli bacteria that is present in normal colostrum in very small amounts.
About McKesson Corporation:
McKesson Corporation is an American pharmaceutical distribution company at a retail sales level, whilst also providing health information technology, medical supplies, and care management tools in the medical industry. McKesson provides extensive network infrastructure for the health care industry and was an early adopter of technologies like bar-code scanning for distribution, pharmacy robotics, and RFID tags. McKesson is a Fortune Global 500 Company, and is the 11th highest revenue generating company in the United States with a total revenue of USD$179B in 2015.
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: 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