Venture Life announced the licensing of an internally developed oral care range to an existing long term customer and that it has signed a further distribution agreements for Gelclair & Pomi-T. VLG has licensed a range of its own internally developed mouth ulcer products (the "Products") to a long term and existing customer for certain key EU and other markets. The Products were developed at VLG's facilities in Italy and will be made at the factory going forward. The Products are currently undergoing registration for the new Medical Device Regulations in the EU.

The total license fee to be received by VLG is €1.35 million, which will be paid on certain milestone events over the next 24 months with an option to extend the licence to include additional territories for a further license fee of up to €200,000. Further to the signing of Gelclair in Brazil in December, the Company announced it has signed a further two new exclusive long-term agreements in Canada and Vietnam. The Canadian partner is one of Canada's fastest growing independent pharmaceutical companies.

It is focused on commercialising products that provide a distinguishable benefit to patients and their healthcare providers and is known for its ability to effectively and efficiently introduce new products to the Canadian market. With presence in pharmacies and hospitals throughout Canada, they will promote Gelclair to doctors, pharmacists and other healthcare professionals in all ten of Canada's provinces. The launch will take place in 2023 following registration.

The Vietnam partner focuses on the import and distribution of pharmaceuticals, dietary supplements, active pharmaceutical ingredients and cosmetics. Their reach extends to c.20,000 OTC pharmacies as well as 700 hospitals, which represents approximately 50% of the total number of hospitals in Vietnam. This new agreement will enable Gelclair to be marketed and sold through both their pharmacy and hospital channels.

The Company has signeda long-term distribution agreement for Pomi-T in Peru.