Sinclair Pharma PLC Sinclair and ThermiGen terminate agreement (5814F)
February 22 2018 - 1:00AM
UK Regulatory
TIDMSPH
RNS Number : 5814F
Sinclair Pharma PLC
22 February 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
Sinclair and ThermiGen terminate US distribution agreement
Sinclair to regain full US commercial rights to Silhouette
InstaLift(TM)
London, 22 February 2018 Sinclair Pharma plc (AIM:SPH.L)
("Sinclair" or the "Group"), the international aesthetics company,
announces that its contract with ThermiGen LLC ("Thermi"), an
Almirall SA company, for the sale and distribution of Silhouette
InstaLift(TM), Silhouette Refine(TM) and Silhouette Lift(R)
("Products") in the US will terminate by mutual agreement, with
effect from 31 March 2018. Sinclair will pay to Thermi a one-off,
undisclosed payment for the early termination and will regain the
full US distribution rights for the Products.
Chris Spooner, CEO of Sinclair, commented: "The Silhouette brand
has experienced very strong growth from a loyal customer base in
multiple territories. To date, it has been used in around 200,000
procedures worldwide demonstrating excellent clinical outcomes and
a strong safety profile. Silhouette InstaLift(TM) is the only
FDA-cleared injectable treatment to have a mid-face lift claim and
has been well accepted in the US, with very positive feedback from
both physicians and patients as demonstrated by the recent
publication of a 100 patient study in the Aesthetic Surgery Journal
by leading US plastic surgeon, Professor Julius Few.
"Advanced discussions with potential US partners are ongoing and
we expect to enter into an alternative arrangement effective from 1
April which would ensure that this highly differentiated product
remains available to doctors and customers, and that we maximise
its potential in the very important US market."
Thermi will continue to supply customers with product until 31
March when the contract terminates. In order to ensure continuity
of supply to customers thereafter, Sinclair has agreed to buy back
Thermi's remaining inventory.
Ends
For further information please contact:
Sinclair Pharma plc Tel: +44 (0) 20 7467
6920
Chris Spooner
Alan Olby
Andy Crane
Peel Hunt LLP (NOMAD and Tel: +44 (0) 20 7418
Joint Broker) 8900
James Steel
Oliver Jackson
RBC Capital Markets (Joint Tel: +44 (0) 20 7653
Broker) 4000
Marcus Jackson
Laura White
Media enquiries
FTI Consulting Tel: +44 (0) 203 727
1000
Ben Atwell
Brett Pollard
Stephanie Cuthbert
Notes to Editors:
About Sinclair Pharma plc - www.sinclairpharma.com
Sinclair Pharma plc is an international company operating in the
fast growth, high gross margin, global aesthetics market. Sinclair
has built a strong portfolio of differentiated, complementary
aesthetics technologies, which are experiencing significant growth,
targeting unmet clinical needs for effective, high quality, longer
duration, natural looking and minimally-invasive treatments.
Sinclair is planning entry to multiple new geographic markets and
line extension launches over the next few years. The Group has an
established sales and marketing presence in the leading EU markets
and Brazil, and a network of international distributors.
"Safe Harbor" Statement under the US Private Securities
Litigation Reform Act of 1995: Some or all of the statements in
this document that relate to future plans, expectations, events,
performances and the like are forward--looking statements, as
defined in the US Private Securities Litigation Reform Act of 1995.
Actual results of events could differ materially from those
described in the forward--looking statements due to a variety of
factors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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