Delivra Announces 2015 Annual and Q4 Results

TORONTO, ON --(Marketwired - April 25, 2016) - Delivra Corp. (TSX VENTURE: DVA) ("Delivra" or the "Company") is pleased to announce its financial results for the three and twelve months ended December 31, 2015.

Fiscal 2015 Developments

2015 was in many ways a foundational and transformational year for Delivra. The Company successfully executed on a range of strategic and operational initiatives across the breadth of its business, with a focus on short-term performance as well as building and positioning for continued growth and plan execution in 2016 and beyond. Significant areas of development included:

Sales, Distribution, and Branding:

• nearly tripled revenues over 2014, based on growth in the Company's flagship pain products
• launched a national TV campaign focused on brand awareness and consumer education
• entered and opened the Quebec market
• successfully negotiated additional retailer listings to broaden distribution
• climbed higher in category rankings
• launched a new Canadian web store

Business Development

• completed external consulting review of Delivra technology and preparation of strategic partnering matrix for targeting the pharma community on licensing opportunities
• completed preliminary engagement of a select sample of pharma companies in regard to licensing opportunities, validating interest in the Delivra technology

Product Development

• launched 100g "Value Size" Pain product with a selected vendor, then expanded to other vendors
• successfully developed and achieved regulatory approval on US versions of flagship Pain and Nerve products
• completed preliminary development and prepared regulatory filings for new OTC Sleep Cream
• launched clinical trials on two OTC products
• advanced pre-clinical work on two additional OTC products

Research & Development

• continued development and expansion of the core transdermal delivery technology
• broadened the range of natural and pharmaceutical molecules tested in analytical and pre-clinical environments
• enhanced team and infrastructure
• filed 8 provisional US patents

Operations

• streamlined production, rationalized product mix and inventory
• improved logistics efficiency and cost structure
• modified form factors to reduce unit costs and increase production capacity

Finance/Governance