Today, shortly before the opening bell, TNI BioTech announced that it has signed an exclusive distributor agreement with G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC for the Federal Republic of Nigeria. As a result, G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC will have exclusive marketing and distribution rights to IRT-103 LDN and IRT-104 LDN cream in Nigeria. TNIB will be responsible for the manufacture and supply of IRT-103 LDN and IRT-104 LDN cream.
The therapies, developed as a treatment for cancer, HIV/AIDS, and other autoimmune diseases, are to be manufactured in the company’s facility in Managua, Nicaragua, under the supervision and quality control of Dr. Henry “Skip” Lenz. G-Ex Technologies/St. Maris Pharma have agreed to provide TNIB with a revolving letter of credit for the minimum purchase of 750,000 doses monthly of IRT-103 LDN or IRT-104 LDN cream beginning March 1, 2013, priced at $1.00 dollar per dose.
Under the terms of the agreement, G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC must purchase a minimum of 15,000,000 doses monthly within 24 months to maintain their exclusive agreement. Once G-Ex Technologies/St. Maris Pharma & GB Pharma Holdings LLC reach sales of 1,000,000 million doses per day, TNIB has agreed to joint venture a factory in the Federal Republic of Nigeria to meet local demands.
Noreen Griffin, CEO of TNI BioTech, Inc. stated, “This contract shows TNI BioTech’s commitment to generate revenue during our first year of operations.”
Frank Aribeana, the managing member of G-Ex Technologies/St Maris Pharma, commented, “We are delighted to enter into this agreement as we believe the introduction of IRT-103 LDN and IRT-104 LDN cream in this market will allow us to provide much needed treatment at an affordable price to the citizens of the Federal Republic of Nigeria.”
G.Ex Technologies/St. Maris Pharma is comprised of management consultant, general pharmaceutical, clinical pharmacy, and marketing executives, each with more than two decades of industry experience and well versed in the changing dynamics of the prescription and OTC drug international marketplace. Actively supported by medical practice professionals in business and academia who have been involved in the management of related drug therapies for many years, the consortium is well positioned to lead the successful introduction of IRT-103 LDN and IRT-104 LDN in Nigeria.
For more information on TNI Biotech, visit www.tnibiotech.com
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