Full Press Release Details
FY23 Sales increase 136% on FY22 Sales
Melbourne, Australia, July 5, 2023: Immuron Limited
(ASX: IMC; NASDAQ: IMRN), an Australian based and globally integrated biopharmaceutical company is pleased to announce FY23 sales (unaudited
net sales) results of its over-the-counter gastrointestinal and digestive health immune supplement Travelan and Protectyn .
Sales of Travelan and Protectyn increased
by 136% in FY23 to AUD $1.80 M, compared to AUD $765 k in FY22.
In Australia, Travelan
and Protectyn sales for FY23 were AUD $1.16 M, a 478% increase on FY22 sales (AUD $201 k). Travelan sales increase as overseas
travel rebounds. Australian resident short term departures in April 2023 were 82% of those in April 2019 (Australian Bureau of Statistics).
Immuron previously reported that strong
sales of Travelan may result in short term stock outages in some wholesalers and pharmacies in the June 2023 quarter. This did
occur. While Immuron does have inventory of Travelan Australia ready to release, it is unable to do so until it has received
GMP Clearance from the Therapeutic Goods Administration (TGA). Even though Immuron has transferred and validated the transfer of
packaging to another supplier which has a valid/current GMP certificate from the TGA, the TGA is unable to give Immuron a timeline
for GMP Clearance. The TGA advises that it is experiencing extremely high volumes of GMP Clearance extension applications which is
resulting in delays to processing timeframes.1 Immuron shall continue to press for an early resolution of this issue with
sales were AUD $643 k, a 28% increase on FY22 sales (AUD $501 k). This growth was attributable to increasing sales in both Passport Health
Travel Clinics and distributor sales. FY23 sales were impacted by supply constraints. These have been resolved. Immuron has inventory
of Travelan USA on hand, sufficient to meet the needs of its current customers and to expand into new market segments. Immuron has
shipped inventory to Amazon with launch anticipated in the next couple of weeks.
Immuron is focused on
growing sales of its commercial products, expanding its portfolio of products and has a strong existing pipeline.
1. Australian Government Department of Health
and Aged Care Therapeutic Goods Administration: https://www.tga.gov.au/news/notices/gmp-clearance-extension-processing-times
This release has been authorised by the directors of Immuron Limited.
orally administered passive immunotherapy that prophylactically reduces the likelihood of contracting travelers' diarrhea, a
digestive tract disorder that is commonly caused by pathogenic bacteria and the toxins they produce. Travelan is a highly
purified tabletized preparation of hyper immune bovine antibodies and other factors, which when taken with meals bind to diarrhea-causing
bacteria and prevent colonization and the pathology associated with travelers' diarrhea. In Australia, Travelan is a listed
medicine on the Australian Register for Therapeutic Goods (AUST L 106709) and is indicated to reduce the risk of Travelers' Diarrhea,
reduce the risk of minor gastro-intestinal disorders and is antimicrobial. In Canada, Travelan is a licensed natural health product
(NPN 80046016) and is indicated to reduce the risk of Travelers' Diarrhea. In the U.S., Travelan is sold as a dietary supplement
for digestive tract protection.
About Travelers' diarrhea
is a gastrointestinal infection with symptoms that include loose, watery (and occasionally bloody) stools, abdominal cramping, bloating,
and fever, Enteropathogenic bacteria are responsible for most cases, with enterotoxigenic Escherichia coli (ETEC) playing a dominant
causative role. Campylobacter spp. are also responsible for a significant proportion of cases. The more serious infections with Salmonella
spp. the bacillary dysentery organisms belonging to Shigella spp. and Vibrio spp. (the causative agent of cholera) are often confused
with travelers' diarrhea as they may be contracted while travelling and initial symptoms are often indistinguishable.
Immuron Limited (ASX:
IMC, NASDAQ: IMRN), is an Australian biopharmaceutical company focused on developing and commercializing orally delivered targeted polyclonal
antibodies for the treatment of inflammatory mediated and infectious diseases.
For more information
visit: http://www.immuron.com
FORWARD-LOOKING STATEMENTS:
This press release may contain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended.
Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any
other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are
subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value.
Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy;
our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results
of research and development activities; risks relating to the timing of starting and completing clinical trials; uncertainties relating
to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel;
the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual
property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking
to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations
or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.