Sinclair Pharma PLC Update on US distribution of Silhouette Instalift (8395I)

TIDMSPH

RNS Number : 8395I

Sinclair Pharma PLC

26 March 2018

Update on US distribution of Silhouette Instalift(TM)

and notice of full year results

London, 26 March 2018. Further to the announcement on 22 February 2018 regarding the termination of the contract with ThermiGen LLC ("Thermi"), Sinclair Pharma plc (AIM:SPH.L) ("Sinclair" or the "Group") confirms it will regain the full US distribution rights for Silhouette InstaLift(TM), Silhouette Refine(TM) and Silhouette Lift(R) on 31 March 2018.

Sinclair is in advanced discussions to secure a new distribution agreement for Silhouette Instalift(TM) in the US and Sinclair expects to conclude these discussions in the coming weeks. As previously announced, Sinclair has agreed to buy back Thermi's remaining inventory and from 31 March 2018 interim measures have been put in place to supply customers until such time as the alternative arrangement has been agreed.

Sinclair also announces it is in advanced discussions for an extended debt facility which management expects to provide greater flexibility than the current arrangement and will provide the Group with additional cash resources at a more competitive rate than the existing facility.

Sinclair intends to report its full year results for the year ended 31 December 2017 on 30 April 2018 which will be accompanied by an update on the Group's US strategy.

Ends

For further information please contact:

 
 Sinclair Pharma plc   Tel: [phone] 
                               6920 
 Chris Spooner 
 Alan Olby 
 Andy Crane 
 
 
 Peel Hunt LLP (NOMAD and   Tel: [phone] 
  Joint Broker)                     8900 
 James Steel 
 Oliver Jackson 
 
 
 RBC Capital Markets (Joint   Tel: [phone] 
  Broker)                             4000 
 Marcus Jackson 
 Laura White 
 

Media enquiries

 
 FTI Consulting       Tel: [phone] 
                              1000 
 Ben Atwell 
 Brett Pollard 
 Stephanie Cuthbert 
 

Notes to Editors:

About Sinclair Pharma plc - www.sinclairpharma.com

Sinclair Pharma plc is an international company operating in the fast growth, high gross margin, global aesthetics market. Sinclair has built a strong portfolio of differentiated, complementary aesthetics technologies, which are experiencing significant growth, targeting unmet clinical needs for effective, high quality, longer duration, natural looking and minimally-invasive treatments. Sinclair is planning entry to multiple new geographic markets and line extension launches over the next few years. The Group has an established sales and marketing presence in the leading EU markets and Brazil, and a network of international distributors.

"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward--looking statements, as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward--looking statements due to a variety of factors.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 26, 2018 02:00 ET (06:00 GMT)