|Fast, safe, convenient and discreet.
Following the news release, its Singapore-listed shares traded as much as 14% higher at 24.5 cents in the first hour.
Its Wafesil® and Silcap® are supplied to Australian pharmacies and are available to patients by doctors’ prescription.
Doctors prescribe the medication after holding online consultations with patients, a novel approach that is disrupting traditional healthcare and recording unprecedented user growth in 2020 in Australia.
An example of a telemedicine platform which prescribes Wafesil® and Silcap® is Pilot, an online men’s health platform.
Market size matters
Erectile dysfunction reportedly affects about 20% of Australian men greater than 40 years old.
Through its end-to-end service, "more than 4,500 boxes of Wafesil® and Silcap® have been supplied to patients through Pilot’s online health platform to-date," said iX Biopharma.
|Ms Eva Tan (photo), Director of Corporate and Commercial Strategy of iX Biopharma, said with improved accessibility to phones and computers, "individuals in rural areas and busy urban areas can connect with a healthcare provider with ease.
"We are eager to develop the telemedicine channel for iX products as we believe that after this crisis, these digital health platforms will become a permanent and well-accepted part of the healthcare ecosystem.
"Therefore, we are delighted that despite the current challenges, our sales team is able to identify yet another distribution channel and lay the foundations for growth.”
About to enter China, Europe, SG markets
» China: In April 2020, iX Biopharma announced that it had out-licensed the right to distribute Wafesil® in China to Yiling Pharmaceutical Ltd.
Preparations to register Wafesil® in China are underway.
» Europe: iX Biopharma has applied to the European Medicines Agency for the registration of Wafesil® in Europe, where sildenafil (which is the drug for treating erectile dysfunction) can be supplied over-the-counter in certain countries in addition to via prescription.
» Singapore: Silcap® has also been filed for registration with the Health Sciences Authority in Singapore.