InnovaDerma PLC (LSE:IDP)'s (InnovaDerma PLC (LSE:IDP)) Blake Hughes talks to Proactive London's Katie Pilbeam about their joint venture agreement with one of its non-executive directors to “accelerate and develop its Prolong premature ejaculation brand.
Mark Ward last week acquired a 55% stake in the joint venture vehicle, Ergon Medical Limited, hitherto a subsidiary of InnovaDerma, for a value of £275,000, with InnovaDerma retaining the other 45%.
The venture will focus on rapidly increasing sales of Prolong and the board plans to review an exit strategy via trade sale or listing to maximise shareholder value after a period of three to five years.