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Jenex Receives First Revenue From Licensing Agreement
The Jenex Corporation (TSX-V: JEN, Frankfurt: JNX) announces today they have received their first payment of $77,500 from the previously announced exclusive multi-year agreement with Daeyang E&C of Korea. Daeyang will manufacture and market Jenex’s patented Therapik® device in Asia. The terms of the agreement also require Daeyang to pay Jenex royalties on all Therapik® sales in 22 Asian countries. The Therapik® product is clinically proven and approved to provide relief of the pain, itch, and inflammation resulting from insect stings and bites.
Michael Jenkins, President & CEO of Jenex said “The initial payment we received marks a Corporate milestone and is an important step towards accomplishing our world-wide licensing objectives for products developed from our Thermal Therapy technology.”
The Therapik® device has been approved by the U.S. Food and Drug Administration and Health Canada. Jenex currently holds patents for Therapik® in Canada, the United States, Europe and Australia. Therapik® relieves the pain, itch and inflammation from the stings and bites of over 20,000 different insects and sea creatures including bees, wasps, hornets, black flies, mosquitoes, stinging nettle and jellyfish.
About The Jenex Corporation
Headquartered in Burlington, Ontario, the Corporation owns a patented Thermal Therapy technology. Patents in the United States, Canada, Australia, and Europe protect the technology. The first device developed from this technology is the Therapik® product, for insect stings and bites. The second device, interceptCS is the first product proven and approved to prevent cold sores. Jenex has been approved to market interceptCS in Canada with its approved claim, “For prevention and relief of the symptoms of herpes labialis (cold sores), such as blistering, lesions, inflammation, and discomfort. Also helps alleviate the embarrassment that is typically associated with herpes labialis (cold sore) outbreaks”. The Corporation is preparing for the launch of interceptCS in the Canadian market in late 2004. Regulatory approvals are being pursued for USA, Europe and Australia. The HSV-1 virus that causes cold sores, is endemic and it is estimated that between 45 and 90 million people in North America suffer from recurrent cold sores. As the only product clinically proven to prevent the outbreak of cold sores, interceptCS has the potential to dominate a large and underdeveloped market. More information about the Corporation can be found at: www.jenexcorp.com.
Direct Inquiries:
Michael Jenkins, The Jenex Corporation E-Mail: jenex@sprint.ca
Tel: (905) 632-3830 Fax: (905) 632-3774
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or the contents of this press release. Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events.
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