- Venture Life Group has signed an agreement to sell a number of trademarks for one of its dermatology products to an existing customer.

Under the terms of the Agreement the Group will receive an up-front cash payment, sales-based milestone payments and guaranteed additional manufacturing business through its Italian facility, Biokosmes, which is expected to generate an average of at least €500,000 in additional annual revenues for at least the next five years.

The trademarks being acquired by the purchaser from Venture Life cover a number of territories, including some territories where Venture Life already has distribution partners for the product. The purchaser will, where permitted, take over these existing distribution agreements from Venture Life.

The Group's revenues from the distribution agreements expected to be transferred to the purchaser were £50,000 in the six month period to 30 June 2014. Venture Life has retained certain trademarks for the product, including those for the important markets of China and India.

The Group expects to receive its first additional order under the Agreement shortly and although there will be some additional manufacturing revenues expected during 2015, the main benefit will be felt from 2016 onwards.

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