Exhibit 99.1
Immuron achieves record quarterly Travelan® sales
Highlights:
| · | Record quarterly Travelan® sales of $1,550,240 |
| · | Total sales of A$1,565,767 in Q1, FY24 |
| o | $1,508,933 increase on Q1, FY23 sales |
| o | 130% higher than pre-pandemic period Q1, FY20 sales |
Melbourne, Australia, October 11, 2023: Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian based and globally integrated biopharmaceutical company is pleased to announce record quarterly sales (unaudited net sales) of its over-the-counter gastrointestinal and digestive health immune supplement Travelan®.
Australia
Immuron previously reported (August 9, 2023) that short term stock outages of Travelan® in some wholesalers and pharmacies in the June 2023 quarter was resolved following receipt of GMP Clearance from the Therapeutic Goods Administration (TGA). Immuron has since supplied product to wholesalers who in turn have supplied retail pharmacies.
Sales of Travelan® increased to AUD $1,339,160 in Q1, FY24, compared to AUD $25,565 in Q1, FY23. Sales increased by $940,991 (236%) on the pre-pandemic peak period (Q1, FY20).
This increase partially reflects 3 months (May, June, July) of backorders accrued while awaiting GMP Clearance from the TGA.
Immuron anticipates continued demand for replenishment of Travelan® as retail pharmacies sell to consumers. Australian Bureau of Statistics: short term resident returns in July 2023 were 48% higher than July 2022 and approaching pre-pandemic levels (89% of July 2019)1. Cumulative short term resident returns in the 12 months to July 2023 were 77% of those in the pre-pandemic period 12 months to July 2019. 1
USA
Sales of Travelan® increased to AUD $211,080 in Q1, FY24, compared to AUD $16,614 in Q1, FY23. Sales were lower by $20,499 (-9%) on the pre-pandemic peak period (Q1, FY20).
International Trade Administration Total U.S. citizen international visitor departures from the United States in June 2023 increased 20.2% compared to June 2022 and were 99.4% of total departures in June 2019. 2
Immuron’s target departure markets 3, June 2023 quarter departures were only 3% lower than the pre-pandemic period June 2019. 2
Immuron previously reported (July 5, 2023) that it had shipped inventory to Amazon for launch in USA. The Amazon launch has been progressing well with sales ahead of budget. We are now entering the low travel season in USA. Immuron anticipates sales to grow strongly closer to the peak spring / summer travel period.
| 1. | https://www.abs.gov.au/statistics/industry/tourism-and-transport/overseas-arrivals-and-departures-australia/latest-release |
| 2. | https://www.trade.gov/sites/default/files/2023-09/US-Outbound-to-World-Regions.xlsx |
| 3. | Caribbean, Asia, South America, Central America, Africa, Mexico |
This release has been authorised by the directors of Immuron Limited.
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COMPANY CONTACT:
Steven Lydeamore
Chief Executive Officer
Ph: +61 (0)3 9824 5254
info@immuron.com
About Travelan®
Travelan® is an orally administered passive immunotherapy that prophylactically reduces the likelihood of contracting travelers’ diarrhea, a digestive tract disorder that is commonly caused by pathogenic bacteria and the toxins they produce. Travelan® is a highly purified tabletized preparation of hyper immune bovine antibodies and other factors, which when taken with meals bind to diarrhea-causing bacteria and prevent colonization and the pathology associated with travelers’ diarrhea. In Australia, Travelan® is a listed medicine on the Australian Register for Therapeutic Goods (AUST L 106709) and is indicated to reduce the risk of Travelers’ Diarrhea, reduce the risk of minor gastro-intestinal disorders and is antimicrobial. In Canada, Travelan® is a licensed natural health product (NPN 80046016) and is indicated to reduce the risk of Travelers’ Diarrhea. In the U.S., Travelan® is sold as a dietary supplement for digestive tract protection.
About Travelers’ diarrhea
Travelers’ diarrhea is a gastrointestinal infection with symptoms that include loose, watery (and occasionally bloody) stools, abdominal cramping, bloating, and fever, Enteropathogenic bacteria are responsible for most cases, with enterotoxigenic Escherichia coli (ETEC) playing a dominant causative role. Campylobacter spp. are also responsible for a significant proportion of cases. The more serious infections with Salmonella spp. the bacillary dysentery organisms belonging to Shigella spp. and Vibrio spp. (the causative agent of cholera) are often confused with travelers’ diarrhea as they may be contracted while travelling and initial symptoms are often indistinguishable.
About Immuron
Immuron Limited (ASX: IMC, NASDAQ: IMRN), is an Australian biopharmaceutical company focused on developing and commercializing orally delivered targeted polyclonal antibodies for the treatment of inflammatory mediated and infectious diseases.
For more information visit: http://www.immuron.com
FORWARD-LOOKING STATEMENTS:
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
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