Firebrick Pharma is pleased to announce that it has executed a Marketing Representation Agreement (the "Agreement") with Singapore-based, Innorini, trading as Innorini Life Sciences ("Innorini").
The initial term of the Agreement is one year with the option to renew for subsequent one-year terms by mutual agreement.
Under the Agreement, Innorini will undertake "Marketing Services" commencing 1 November 2024. The Marketing Services comprise sampling and promotion of Nasodine® Nasal Spray ("Nasodine") to General Practitioners ("GPs") and hospital-based doctors and pharmacists (collectively "HCPs") in Singapore.
In addition to building awareness and support of Nasodine by HCPs, Innorini will be expected to sell Nasodine to clinics and hospitals for on-sale to patients. Under the Agreement, Firebrick will receive a fixed dollar value from Innorini for each unit sold to HCPs.
"In Singapore, it is common practice for GPs and hospitals to dispense and sell products to patients," said Firebrick Executive Chairman, Peter Molloy. "In this way, HCPs represent an important distribution channel for sales, as well as advocacy and recommendation."
In addition to the HCP channel, the Company recently announced (9 September 2024) that it had hired former J&J senior executive, Keith Shortall, with the goal of achieving pharmacy distribution of Nasodine in Singapore by 30 June 2025.
"Gaining advocacy and recommendation of Nasodine from doctors is an important prerequisite to the start of retail pharmacy distribution and broader consumer marketing," added Dr Molloy.
The Managing Director of Innorini, Mr Rishi Nandiraju, commented as follows: "We're thrilled to partner with Firebrick Pharma and to be able to introduce Nasodine, the world's first PVP-I nasal spray, to healthcare professionals in Singapore."
