TORONTO, ON, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Easton Pharmaceuticals (OTC:EAPH) announces the appointment of Dr. Daniel Bagi, MD as Director, President of Business Development. Provides other updates:
Dr. Daniel Bagi is a senior executive physician with 27 years international experience in the pharmaceutical industry, with an emphasis in worldwide business development and licensing. Dr. Bagi has expertise in medical affairs and clinical research, specifically oncology and specialty women’s health products and an excellent knowledge of international regulatory standards. Dr. Bagi has supervised over 15 international clinical trials. He has a strong business orientation with particular strengths in strategic planning, business development, and product evaluation, having secured numerous license deals for Canada, Mexico and Middle Eastern territories between North American Pharmaceutical and Biotech companies and local partners. Dr. Bagi also has extensive experience presenting to financial institutions, regulatory agencies, and potential pharmaceutical partners.
More recently Dr. Bagi was instrumental in securing sub-licensing agreements for Easton and its Latin American joint venture partner, BMV Medica SA de CV with BAYER for the Bacterial Vaginosis diagnostic product VS-Sense for Mexico, which is already available in Canada, Europe and the USA under different brand names. Product launch is expected to commence in the 4th quarter of 2018.
Easton Pharmaceuticals is pleased to have such an accomplished professional as Dr. Bagi on board to assist with our future product planning as Dr. Bagi was also instrumental in securing sub-licensing agreements for AmnioSense and Gynofit with Multi-National Gedeon Richter Plc Of Hungary. Both products have received regulatory approval in Mexico and have commenced sales. Dr. Bagi’s experience in new business development and worldwide licensing for our product line will help Easton navigate the sometimes uncertain waters of the market, and help Easton focus on the design and execution of key offshore licensing and distribution agreements, enriching our pending commercialization efforts. Mr. Bagi takes over for Carla Pepe who has left the company for other opportunities in Canada. Mr. Bagi joins Mr. Luigi Gentile, John Guerra, Evan Karras and Robert Vivacque as board members of Easton Pharmaceuticals with announcements and restructuring of corporate positions to soon be announced.
In other corporate updates, with sales of VS-Sense expected to commence later this year through BAYER following the execution of a sub-distribution agreement, Easton and its expanded management team are planning to engage an auditor to perform audits on its financial statements towards becoming an SEC reporting issuer.
Easton will soon be provided a detailed update from 1124123 Ontario Inc. (o/a - Alliance Group) and its expected launch of its aggregate operations in late March or second quarter as per updates provided to Easton. Operations were unexpectedly delayed late last quarter due to weather, equipment and other factors. Easton finalized an agreement with Alliance after paying $1.3 million cdn for a 50% property ownership for a 135 acre parcel of land and 2 businesses which include Aggregate and Medical / Recreational Marijuana. Separate from this, Easton Management has recently initiated discussions with 2 parties for a submission of an ACMPR License application for the cultivation and growing of medical/ recreational marijuana for Canada. Terms include an Easton financing commitment upon approval of a letter to build from Health Canada.
Due to the closing of its Alliance Group Agreement, Easton delayed its closing with iBliss Inc as a cash payment was required to be made prior to a final closing. The new board is now currently evaluating this transaction and acquisition and may attempt to restructure the agreement terms with iBliss Inc who is an operating seller of vaporizers and proprietary e-liquids. Easton plans to minimize any share dilution by utilizing any expected sales garnered from its Alliance operations.
Woman’s Products Overview:
VS-Sense - VagiSense: is the current brand name of the BV (Bacterial Vaginosis) patented diagnostic test. VagiSense (VS-Sense) is the same product Bayer Pharmaceuticals had licensed and launched in late 2015 in Europe under its brand, Canestest. Prestige Distribution is currently selling in the US under its brand, Monistat, with multi-million dollars in sales and growing. In December of 2017, Easton through its partner BMV Medica executed a sub-distribution agreement with BAYER for the territory of Mexico with product launch expected in 4th quarter 2018.
Gynofit: European-Union approved natural treatment for Bacterial Vaginosis (BV), potentially eliminating the use of antibiotics in women with BV and promoting optimal vaginal health. BV is expected to affect the vast majority of women at some point in their lives.
AmnioSense: patented amniotic fluid leak test is a unique Point-of-Care diagnostic panty liner for women in late-stage pregnancy able to distinguish between urine and amniotic fluid (breaking of water).
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton has partnered with BMV Medica and together own the exclusive distribution rights in Mexico and Latin America for patented women's diagnostic / treatment products and two generic cancer drugs. The company's gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of other drugs and Cannabidiol extracts. Easton has closed on an agreement to acquire a 50% ownership stake on a 135 acre property located in Georgina Township and 2 businesses on the property including aggregate & medical / recreational marijuana.
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This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when certain words or phrases such as "hope", "positive", "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
For More Information Visit:
Evan Karras / CEO
Tel: +1(416) 619-0291
Tel: +1(347) 284-0192
Source: Easton Pharmaceuticals Inc.
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