BioVaxys (CSE:BIOV) signs binding term sheet for distribution of Papilocare in the U.S.

BioVaxys Technology Corp. (BIOV) has signed a binding term sheet with Procare Health Iberia, S.L. of Barcelona, Spain
The agreement is for exclusive marketing and distribution in the United States of Papilocare vaginal gel and Immunocaps
Financial terms include milestone payments and royalties on sales
BioVaxys Technology is a clinical-stage biotechnology company that is developing viral and oncology vaccine platforms
BioVaxys Technology Corp. (BIOV) opened trading at C$0.205 per share.

BioVaxys Technology Corp. (BIOV) has signed a binding term sheet with Procare Health Iberia, S.L. of Barcelona, Spain.

The agreement is for exclusive marketing and distribution in the United States of Papilocare vaginal gel and Immunocaps, an oral over-the-counter nutritional supplement.

BioVaxys Executes Binding Term Sheet for the US Marketing & Distribution for Papilocare Gel and Oral Immunocaps

The agreement also gives BioVaxys right-of-refusal in the United States for Ovosicare and Libicare, Procare Health’s over-the-counter supplements to support fertility enhancement for late maternity or IVF processes and improve menopausal symptoms.

Financial terms include milestone payments and royalties on sales. The companies have agreed to complete an initial ten-year duration exclusive supply and distribution agreement (“Distribution Agreement”) by December for Papilocare® Gel (packs of 7 and 21 5ml cannulas), 2x40ml and applicators, packs of 1x5ml samples, and 30 capsule packs of Immunocaps. Manufacturing will remain in Spain under Procare Health.

Founded in 2012, Procare Health is a leading privately-held pharmaceuticals company in the women’s health field based in Spain with several affiliates in Europe, including France, Portugal and the UK, with marketed products including Papilocare, Libicare, Palomacare, Idracare, Pronolis HD and Ovosicare.

Procare Health commercializes its products within more than 60 countries in the world via distribution agreements with well-known and established pharmaceuticals company within the Women’s Health field.

CEO James Passin sat down with Daniella Atkinson to discuss the news.

BioVaxys Technology is a clinical-stage biopharma company. The company develops antiviral and anticancer vaccine platforms to treat SARS-CoV-2 and other viral infections, as well as ovarian cancer and other solid tumour types.

BioVaxys Technology Corp. (BIOV) opened trading at C$0.205 per share.