Starpharma (SPL.AX) (SPHRY) said it received Conformity Assessment Certification for the VivaGel condom by the Australian Therapeutic Goods Administration or TGA, which is similar to CE certification of devices in Europe.
Starpharma's marketing partner, Ansell (ANN.AX) plans to launch the VivaGel condom under their brand, LifeStyles Dual Protect, in the coming months, after listing on the Australian Register of Therapeutic Goods. TGA certification will also support some regulatory processes in other markets.
The VivaGel condom is a world-first product based on innovative Australian technology. It is the only condom of its type, providing barrier protection and incorporating a proprietary antiviral compound in the lubricant.
LifeStyles Dual Protect condoms to be marketed by Ansell will carry the VivaGel brand and Starpharma will receive royalties based on sales.
Ansell is a major provider of protection solutions and is ranked number two globally.
In Australia, Ansell's share of the condom market is around 70 percent. The global branded condom market is estimated to be worth approximately. $1.1 billion
SPL.AX surged 8.55 percent on the news to A$0.6350.
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