Under the deal, Tramorgan has secured the exclusive marketing sales and distribution rights of Innovus’ topical consumer care product to increase penile sensitivity.
The deal has an initial term of 31 December 2016 and can be extended thereafter for a 24-month period if Tramorgan has reached certain aggregate sales milestones.
In return, Innovus is eligible to secure about $44m in sales milestone payments based on Tramorgan’s attainment of certain levels of cumulative gross sales amounts plus 50% royalties based on Tramorgan’s net sales after distribution costs in the UK.
The company said that the product will be available in 10ml multi-dose dispenser and single use packets.
Innovus Pharma president and CEO Dr Bassam Damaj said this is the company’s second international partnership for Sensum+ and its first one in Europe for this product.
"Tramorgan is a leader in government health sales and has extensive connections into the UK market both on the retail side and online," Damaj said.
"This partnership is our entry into the European market for Sensum+ as we continue our quest to make our products available in a minimum of 40 countries by the end of 2015."