Mute Secures Australian Wholesale Pharmacy Distribution
Sydney, Mar 31, 2015 AEST (ABN Newswire) - Rhinomed (
ASX:RNO) is pleased to announce it has secured Australian wholesale pharmacy distribution with Symbion, part of the trans-Tasman EBOS Group, for its Mute(R) snoring and sleep quality technology.
On December 2nd 2014 Rhinomed announced the results of its five-day in home user trial (n=236) that showed Mute(R) reducing the incidence of snoring in 75% of users and radically improving sleep quality in both snorers and their partners. With over 60% of Australian households having a snorer, the company has a significant opportunity to improve the lives of millions of Australians.
Mute(R) was also successfully registered with the Australian TGA, US FDA and has a CE Mark from the European Authorities in December 2014.
Symbion will be wholesaling the Mute(R) technology into their pharmacy network of over 1200 Pharmacies including the Chemmart, Terry White, Good Price and Blooms the Chemist pharmacy chains." said Rhinomed CEO Michael Johnson. Mute(R) will be retailed into the Australian market with a recommend retail price of $19.95 for a starter pack and $29.95 for the three-pack refill.
Rhinomed recently attended the Australian Pharmacy conference (APP2015) in Queensland where the Mute(R) was introduced to the broarder Australian pharmacy community. Rhinomed will be expanding Mute's franchise in the Australian market through continuing dialogue with other major Australian Pharmacy wholesale groups.
"We are looking forward to bringing silence and a good nights sleep to millions of Australians as we begin the sell in of the Mute(R) technology into these pharmacies. The response from Pharmacies has been extremely positive with strong early orders in the pipeline. We would expect to see revenues from this relationship starting to flow in late Q4 FY15." said Johnson.
International Distribution program
Snoring and poor sleep quality affects tens of millions of people worldwide. Rhinomed is focused on partnering with world-class companies in the sleep and pharmacy categories to ensure Mute(R) is positioned as the premium OTC solution for snoring and improved sleep quality in the billion-dollar global sleep category - currently estimated to be worth over US$32billion.
"The achievement of the Australian wholesale distribution milestone ensures the company can continue its international distribution discussions with a great deal of confidence" said Johnson. "We have received strong interest in the Mute(R) technology from distributors in multiple international markets."
The company will continue to update investors on the progress of its business development activities in due course.
About Rhinomed Limited
Rhinomed Limited (ASX:RNO) is a Melbourne based technology firm with a focus on nasal, respiratory and breathing management technologies. The company is seeking to monetise applications of its technology portfolio in the Sport, Sleep, Wellbeing and Drug Delivery markets. For more information, go to www.rhinomed.global
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