Delivra Posts Financial Results for 2016

Delivra Corp (TSXV:DVA) released its financial results for 2016 and its fourth quarter.
As quoted in the press release:

Highlights for Fiscal 2016:

• Increased revenue by 30% from $2.9M to $3.8M driven by growth in sales of the Company’s flagship LivRelief products, while Canadian sales and advertising expenditures stayed on par with 2015 expenditures;
• Added Louisa Greco, formerly Managing Director of Johnson & Johnson Consumer Group of Companies Canada with significant experience in the healthcare industry to the Advisory Board;
• Strengthened the Board of Directors with the appointment of David Thibodeau, a seasoned finance executive in the consumer health sector;
• Advanced the development of the Company’s pharmaceutical portfolio with successful pre-clinical testing of topical Celebrex™ (celecoxib) targeting pain management and inflammation;
• Announced its successful pre-clinical work with the natural ingredient berberine for the prevention and treatment of cardiovascular disease related to high cholesterol and triglyceride levels;
• Developed a new therapeutic method of treating diabetic wounds topically by formulating the Company’s transdermal technology with doxycycline, demonstrating the formulation can deeply penetrate and treat a wound bed;
• Expanded the Company’s patent portfolio to 9 pending patents on the broad applicability of the Company’s proprietary delivery system;
• Subsequent to the year-end:
  • Launched ^PrLiv-DOX, for the treatment of diabetic wound healing, available through compound pharmacy services of NKS Health;
  • Completed a strategic partnership with Dosecann Inc. and ARA-Avanti RX Analytics Inc. to develop a unique suite of standardized and commercialized products for the medical cannabis market

“Our strategy of using our innovative transdermal delivery platform to build a portfolio of consumer and prescription products delivered a strong financial year. During the year, we successfully grew sales of our LivRelief™ suite of products in Canada and leveraged the value of our platform transdermal technology by expanding our pharmaceutical portfolio targeting pain management and diabetes,” said Dr. Joseph Gabriele, CEO of Delivra Corp. “Over the next year, we will focus on building a profitable consumer portfolio, exercising capital discipline, to fund the growth of Delivra’s pharmaceutical portfolio. Specifically, we will focus on developing our pharmaceutical products with the roll-out of a novel suite of medical cannabis products and continue to drive endorsement by leading clinicians for ^PrLiv-DOX for diabetic patients.”

ABOUT DELIVRA CORP.

Delivra Corp. is a specialty biotechnology company that has a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules, through the skin, in a targeted specific manner. Delivra manufactures and sells a growing line of natural topical creams with the proprietary transdermal delivery system platform under the LivRelief™ brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and under the LivSport™ brand for sports performance. LivRelief™ products are available in pharmacies, grocery chains, and independent health food stores across Canada, and on-line at www.livrelief.com. LivRelief™ pain and nerve pain products are also available in the United States on Amazon and at www.livrelief.com/us. In parallel with its consumer products business, Delivra also has a mandate to license its patent-pending proprietary transdermal delivery technology platform to pharmaceutical companies globally, for the repurposing of pharmaceutical molecules transdermally to treat a broad range of conditions, along with licensing its over-the-counter products globally. Delivra is headquartered in Burlington, Ontario and has a research and development laboratory in Charlottetown, PEI.

Click here to read the full press release.