CINCINNATI, OH & SOUTH ISELIN, NJ, June 26, 2018 (GLOBE NEWSWIRE) -- Callitas (CSE: LILY, OTCQB: MPHMF, FWB: T3F2), (the “Company” or “Callitas”), an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, announced today that it has entered into a non-exclusive licensing and technology agreement with LifeStyles, LTD, the global leader in the sexual wellness sector, for its non-branded, patented arousal gel and lubricants for use on condoms and as a stand-alone product for retail and consumer markets around the world.
“Partnering of Callitas’ non-branded products and technologies to reach new markets and sales channels is a critical component of our business model,” said James M. Thompson, President and CEO. “Partnering with the worldwide leader in sexual wellness, Lifestyles, LTD., is an outstanding way to expand our sales as we look forward to a long-term, mutually beneficial future.”
Under the terms of the agreement, Callitas will receive a variable, single-digit royalty on net sales of all products sold worldwide by Lifestyles, LTD., on any of their brands. Callitas will also assist LifeStyles, LTD., in the development of additional sexual health and wellness retail consumer goods.
“We have been so pleased to work with Callitas on our SKYN Excite Gel formula, a topical active gel powered by the active ingredient L-Arginine, an amino acid that helps relax and dilate blood vessels, increasing blood flow to sensitive areas,” said Jeyan Heper, CEO at LifeStyles. “Our consumer studies have shown that 84% of women reported an improvement in their ability to intensify climax after multiple uses of this product*, and we look forward to continuing to work closely with Callitas to develop products designed to enhance pleasure in the sexual wellness space.”
About LifeStyles: LifeStyles has a history dating back to 1905 when Eric Ansell first started making condoms in Richmond Australia. Today LifeStyles is a Global leader in the sexual wellness sector, comprising a broad range of condom, personal lubricant and other related products. LifeStyles is the world’s #2 condom company with leading latex brands such as LifeStyles®, Jissbon®, Manix®, Unimil®, Blowtex® and others, as well as the fast-growing, highly-innovative non-latex condom brand SKYN®. LifeStyles Healthcare was created on September 1, 2017 when the consortium of Humanwell Healthcare & CITIC Capital private equity purchased the Sexual Wellness division from Ansell.
About Callitas Health: Formed in early 2015, Callitas Health Inc. is an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, focused on developing innovative technologies for weight management, female sexual health and wellness, cannabis delivery technologies and other proprietary drugs. In addition to its recent acquisitions of C-103, a reformulation of Orlistat, Extrinsa and assets from 40J’s LLC, the Company successfully launched ToConceive in North America as a clinically proven option for couples struggling with the inability to conceive (www.toconceive.com), and is in the research and development and business development process for its other OTC products, CannaMint strips and orphan drug technologies. For more information visit www.callitas.com.
James Thompson, CEO, or
Callitas Investor Relations
Phone: +1 (859) 868-3131
Investor Relations – Kevin McGrath, Managing Director
Phone: +1 (646) 418-7002
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the regulatory approval and the commercialization of the rights to the Company’s biomedical & drug technologies. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com and the Company’s filings to the CSE at www.thecse.com. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.
Notice regarding investigational devices: CannaMint Strips, C-103 and Extrinsa are investigational drugs or devices and are not currently available outside of approved clinical trials. Claims regarding the safety and efficacy of these devices have not been evaluated by Health Canada, the U.S. Food and Drug Administration, or any other international regulatory body.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements.
* User questionnaire conducted in USA, May 2015, 240 participants, Excite Sensual Gel Questionnaire