LOS ANGELES, July 06, 2023 (GLOBE NEWSWIRE) -- ViaDerma, Inc. (OTC Pink: VDRM) is very pleased to announce several exciting business updates for current and prospective shareholders, partners, and healthcare providers.
The company is currently over 30% through the process of our stability testing requirements in order to finalize approvals for distributing lead product Vitastem Ultra throughout multiple countries in the Caribbean and Middle East. Based on the feedback we have received to date, we anticipate that the required testing protocols should be completed by the end of August or in early September of this year.
Our new hair regrowth product, Nupelo, is in the final stages of receiving FDA-registered product approval. Recently, our team received feedback and a new request by the FDA to submit additional information required for final approvals. The requirements were sent back to the FDA in early June and we are awaiting the confirmation for FDA-registered approval for Nupelo any day now.
In addition, the company is currently finalizing an agreement with a much larger FDA-registered product manufacturing facility that can help scale Vitastem product inventory to over 100,000 units with just 6-8 weeks lead time. This move is imperative to the company's success in being able to fulfill increased customer demand throughout the US and around the world.
The company has been working very hard to overcome several scalability challenges we had unexpectedly encountered with our previous product manufacturer who proved unable to fulfill the needed product inventory fast enough in order to meet the volume requirements demanded from healthcare providers and medical supply distributors. Since then, management has thoroughly researched, vetted, and sourced a new Tier-1 FDA-registered medical product manufacturer here in the US who will soon take over all of the manufacturing requirements for Vitastem Ultra. This strategic move will drastically help ViaDerma scale the business much more successfully moving forward in order to meet the increased demand by healthcare professionals and health care supply distributors that have been attributed to our ongoing sales & marketing efforts throughout the world.
Furthermore, over the past several weeks, the company has interviewed several auditors, CPA firms, and attorneys with the expectations of retaining their services very soon in order to complete the two years of audited financial statements required to become fully SEC reporting. Once completed, the company plans to immediately apply for uplisting ViaDerma to the OTCQB.
ViaDerma is deeply committed to expanding the growth of our business to great new heights in 2023 and even more so into 2024 and beyond. Feedback from healthcare providers in the US and abroad has been stellar and the demand for Vitastem as a go-to topical antibiotic for minor to severe wounds and infectious skin diseases continues to increase by the day.
The company’s management team deeply appreciates the ongoing feedback and patience from shareholders, partners, and healthcare providers. We are extremely grateful and excited about the future of the business over the next year and look forward to sharing several more updates as soon as possible.
About ViaDerma, Inc.
ViaDerma, Inc. (OTC: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative transdermal drug delivery technology solutions to current leaders in the pharmaceutical industry in a wide variety of therapeutic areas. For more information, please visit: https://viaderma.com
Any forecast of future performance is a "forward looking statement" under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment.
Contact information:
Investor Relations
Email: ir@viaderma.com
Phone: 310-734-6111
Follow ViaDerma on Twitter: https://twitter.com/viaderma
Follow ViaDerma on Facebook: https://www.facebook.com/ViaDermaLicensing
