25 May 2012

Plethora wins product license

20/01/2012 Miles Nolan

Urology and sexual health concern Plethora Solutions (PLE) has signed a deal to become the UK exclusive distributor of Gepan - a product to treat cystitis.

The deal has been agreed with German medical devices firm G. Pohl-Boskamp and will allow AIM listed Plethora to sell the pre-filled syringe solution. Gepan is for the treatment of several chronic forms of cystitis including: interstitial cystitis, overactive bladder, chronically recurring cystitis and radiation cystitis.

Estimates suggest up to 1.6 million people suffer from these conditions, with many patients often misdiagnosed. Indeed, many use 6-12 treatments to try and combat their suffering. With a dedicated workforce within its Urology Company division, the expectation is it should be a useful revenue generator for Plethora.

Earlier this month the minnow appointed Isle of Man based fund manager Jim Mellon to the board as a non-executive director. His experience will prove of benefit, and adds to the impressive turnaround underway - driven by chief executive Ronald Openshaw. The shares are up 0.25p to 3.25p today. Worth a punt.

Tags: AIM market, Cystitis, New product, Penny shares

Sector: Pharmaceuticals & Biotechnology

Companies: Plethora Solutions

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