Innovus Pharmaceuticals Acquires Semprae Laboratories, Inc.
Innovus Pharmaceuticals (OTC: INNV) today announced that the Company acquired Semprae Laboratories through a merger and for shares of common stock of Innovus Pharma. Semprae is a New Jersey company founded by women in 2008 with the goal of improving women's sexual lives. From the beginning, Semprae has been marketing Zestra™, the first non-prescription product clinically proven to increase arousal, sensation, pleasure and satisfaction in women. In 2011, Semprae introduced Zestra Glide™, an accompanying water based lubricant. Together the two products had gross sales of approximately $1 million in 2013.