Venture Life Group PLC Business Update (8464X)
10 Gennaio 2022 - 8:00AM
UK Regulatory
TIDMVLG
RNS Number : 8464X
Venture Life Group PLC
10 January 2022
10(th) January 2022
VENTURE LIFE GROUP PLC
("Venture Life" "VLG" or the "Company")
New partner appointed for Chinese market for oral care brands,
following recent termination of previous distributor
Venture Life (AIM: VLG), a leader in developing, manufacturing
and commercialising products for the self-care market, today
announces that it has appointed a new Chinese partner for two of
VLG's leading oral care brands - Dentyl and UltraDEX.
As communicated in August and December 2021, the Company's
Chinese partner had disappointed against expected level of sales
since the start of the pandemic and the Company was exploring
alternative opportunities. In the absence of any improvement in the
second half of 2021, the VLG Board made the decision to terminate
the agreement with the previous partner and the Board is pleased to
announce that the Company's new Chinese partner will be Samarkand
Group Plc ("Samarkand") for an initial contract term of 5 years, on
an exclusive basis.
Samarkand is a UK based, publicly listed company with expertise
in connecting UK brands to the Chinese consumer representing large
brands such as Omorovicza, Temple Spa and Philip Kingsley. With
operations in Shanghai and London, the Board believes that
Samarkand is well placed to emulate the success achieved by both
Dentyl and UltraDEX in the UK, and the success achieved by the
previous partner in the Chinese market before the pandemic.
David Hampstead, CEO Samarkand Group Plc, commented, "We are
delighted that Venture Life Group Plc has chosen Samarkand as their
new go to market partner for China. Dentyl and UltraDEX are market
leading brands with established recognition and sales in the China
market. Samarkand's on the ground capability in China, combined
with our transparent and collaborative approach to working with our
brand partners, has once again made us the winning choice for
brands."
Jerry Randall, CEO of Venture Life, commented, "Further to the
challenges we have documented and faced with our previous
distributor in the Chinese market for both Dentyl and UltraDEX,
precipitated by the pandemic, we are pleased to have appointed a
new partner - Samarkand, a UK based company with both experience
and infrastructure in the Chinese market. As Samarkand has other
key brands under their stewardship, we are confident that our oral
care brands will be properly exploited and managed by them in
China. This partner brings two key benefits which I think will be
paramount to our success; the first being a UK base that we will
interact with directly, making communication quicker and simpler
than with a partner direct in China, and the second being their own
team in China directly interacting with the UK base. We expect this
to make transacting business in China much simpler and more
effective than it was with our previous relationship.
Further to this and following the months of intense integration
since the acquisition of both BBI Healthcare and Helsinn, our
commercial team is starting to make good progress on exploring and
exploiting the expected synergies. A new distribution agreement has
been signed for Pomi-T in Germany and good progress has been made
in identifying other prospects in other key parts of the world. We
will continue to update the market on this progress in due
course."
For further information, please contact:
Venture Life Group PLC +44 (0) 1344 578004
Jerry Randall, Chief Executive Officer
Daniel Wells, Chief Financial Officer
+44 (0) 20 7397
Cenkos Securities plc (Nomad and Joint Broker) 8900
Michael Johnson/Russell Kerr (Sales)
Stephen Keys/Camilla Hume (Corporate Finance)
+44 (0) 20 7496
Singer Capital markets (Joint Broker) 3000
Jonathan Dighe (Sales)
Shaun Dobson/Alaina Wong (Corporate Finance)
About Venture Life ( www.venture-life.com )
Venture Life is an international consumer self-care company
focused on developing, manufacturing and commercialising products
for the global self-care market. With operations in the UK, Italy,
The Netherlands and Sweden, the Group's product portfolio includes
some key products such as the UltraDEX and Dentyl oral care product
ranges, the Balance Active range in the area of women's intimate
healthcare, the Lift and Glucogel product ranges for hypoglycaemia,
products for fungal infections and proctology, and dermo-cosmetics
for addressing the signs of ageing. Its products are sold in over
90 countries worldwide.
The products, which are typically recommended by pharmacists or
healthcare practitioners, are available primarily through
pharmacies and grocery multiples. In the UK and The Netherlands
these are supplied direct by the company to retailers, elsewhere
they are supplied by the Group's international distribution
partners.
Through its two Development & Manufacturing operations in
Italy and Sweden, the Group also provides development and
manufacturing services to companies in the medical devices and
cosmetic sectors.
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