Delivra Corp. announces that its R&D, pre-clinical and clinical teams have successfully developed and tested line-extension products using its precision topical delivery system platform, DelivraTM.
These consumer product initiatives include cannabis-related products at both the over-the-counter and prescription levels. With the assistance and support of Emergence, Canada’s virtual incubator that supports the growth of innovative bioscience and food sector ventures, Delivra has developed its strategy and executed on ready to use products for over-the-counter line extensions that will compliment its already existing successful LivRelief products, and is ready for the upcoming legalization of cannabis with its vast array of cannabis-related products for third-party distributors for different disease indications.
Overall, the evaluation strategies confirm that Delivra’s novel proprietary delivery system can achieve further advances within the chronic pain and sleep/anxiety markets. Importantly, current sales and gross margins outperform several competing brand names in the pain segment and an acceleration of LivRelief’s successful suite of products is expected to be met with success. This acceleration of LivRelief sales growth in the topical over-the-counter category will involve additional unique SKUs at existing accounts and an enhancement of the distribution channels, which is now over 5,200 pharmacy/grocery and natural products stores.
“Delivra will continue to implement a strategy to develop a multi-formulation/multi-size portfolio while maintaining and strengthening its fundamental natural brand position through scientific and natural ingredient synergies while continuing to increase our presence at the prescription level,” says Dr. Joseph Gabriele, CEO of Delivra.
“As part of our newest marketing initiative, we will focus on further increasing brand awareness, bolster marketing and distribution efforts and providing innovative packaging of our currently successful suite of consumer products. Driving increased sales with a proprietary suite of innovative products remains one of our key focuses. This reaffirms our commitment to further develop and commercialize our expanding pipeline of cream-based therapeutics across Canada and we thank Emergence for their ongoing support of Delivra and its vision.”