Innovus Pharma Signs Exclusive License and Distribution Agreement with Elis Pharmaceuticals for Zestra® in Lebanon

Innovus Eligible to Receive up to $2.25 Million in Sales Milestone
Payments Plus Transfer Pricing

SAN DIEGO–(BUSINESS WIRE)–Innovus Pharmaceuticals, Inc. (“Innovus Pharma”) (OTCQB: INNV) announced
today it has entered into its second exclusive license and distribution
agreement with Elis Pharmaceuticals, Ltd. (“Elis Pharma”). Under the
agreement Innovus Pharma granted to Elis an exclusive license to market
and sell Zestra® for female arousal and desire in Lebanon. Innovus
Pharma is eligible to receive up to $2.25 million in sales milestone
payments plus an agreed-upon transfer price.

Bassam Damaj, President and Chief Executive Officer of Innovus Pharma,
commented, “We are very excited about this second commercial partnership
collaboration with Elis. Zestra® was commercialized in Lebanon by
Semprae Labs prior to being acquired by Innovus Pharma. We look forward
to working with Elis Pharma to re-establish market presence of Zestra®
in Lebanon. We continue to be focused on executing on our goals of
making our products commercially available in markets outside of the
United States and achieving our goal of profitability in 2017.”

“This second partnership highlights our excitement about Innovus
Pharma’s unique and innovative products,” said Mr. Rashed Assouma, CEO
of Elis Pharmaceuticals. “In this region Elis Pharma has over 1,000
products, including the exclusive license to Vitaros® for erectile
dysfunction licensed from Apricus Biosciences, and we have a dedicated
sales force targeting urologists and gynecologists in Lebanon. Zestra®
is a well-respected and known brand in Lebanon by gynecologists and
consumers, and we look forward to getting the required government
approval to re-launch Zestra® in the near future.”

Zestra® is currently commercialized in the U.S. by Innovus Pharma, in
Canada by Orimed Pharma, in Africa by Sothema Labs, in Hong Kong by PT
Laras Bumi Resources, and in select European countries by Danalife.

Zestra® has also received approval in India and the United Arab Emirates.

About Zestra® and FSI/AD

Zestra® is a patented blend of natural oils clinically proven in
double-blind, placebo-controlled clinical trials in 276 women to
increase in a statistically significant manner the arousal, desire and
sexual satisfaction in FSI/AD women. Zestra® is the first NHP
product to receive approval for the indication of FSI/AD in Canada. To
date, no product has been approved to treat FSI/AD, a persistent or
recurring inability to attain or maintain adequate sexual excitement
until the completion of a sexual activity. The diagnosis can also refer
to an inadequate lubrication-swelling response normally present during
arousal and sexual activity, causing personal distress. Published papers
on the FSI/AD market size estimate it to be equal to or larger than the
market for erectile dysfunction in males, and possibly larger.

About Elis Pharmaceuticals, Ltd.

Elis Pharmaceuticals markets and distributes over 1,000 branded and
generic pharmaceuticals and under-licensed products. Established in the
United Arab Emirates, Elis Pharmaceuticals’ fast growth has allowed it
to become a global company, with a strong focus on the Middle East and
North Africa and Turkey. Elis Pharmaceuticals serves over 40 markets and
has strengthened its presence by collaborating with multinational
companies.

For more information, visit Elis Pharmaceuticals’ website at www.elispharmaceuticals.com.

About Innovus Pharmaceuticals, Inc.

Headquartered in San Diego, Innovus Pharma is an emerging commercial
stage pharmaceutical company delivering over-the-counter medicines and
consumer care products for men’s and women’s health and respiratory
diseases. The Company generates revenues from its lead products (a) BTH®
Testosterone Booster, (b) BTH® Human Growth Agent, (c) Zestra® for
female arousal and (d) EjectDelay® for premature ejaculation, and has an
additional five marketed products in this space, including (e) Sensum+®
to help with reduced penile sensitivity, (f) Zestra Glide®, (g) Vesele®
for promoting sexual health, (h) RecalMax™ for promoting brain and
cognitive health, (i) Androferti® (in the US and Canada) to support
overall male reproductive health and sperm quality, (j) BTH Vision
Formula, (k) BTH Blood Sugar, among others, and eventually FlutiCare™
OTC for allergic rhinitis, if its ANDA is approved by the U.S. FDA.

For more information, go to www.innovuspharma.com,
www.zestra.com,
www.ejectdelay.com,
www.myvesele.com,
www.sensumplus.com,
www.myandroferti.com,
www.beyondhumantestosterone.com,
www.getbeyondhuman.com,
www.trybeyondhuman.com,
www.recalmax.com,
www.urivarx.com.

Innovus Pharma’s Forward-Looking Safe Harbor:

Statements under the Private Securities Litigation Reform Act, as
amended: with the exception of the historical information contained in
this release, the matters described herein contain forward-looking
statements that involve risks and uncertainties that may individually or
mutually impact the matters herein described for a variety of reasons
that are outside the control of the Company, including, but not limited
to, results from the above pre-clinical and clinical trial, projected
revenues, projected online subscribers, estimated market for its
products, and statements about achieving its other development, growth,
commercialization, financial and staffing objectives. Readers are
cautioned not to place undue reliance on these forward-looking
statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read
the risk factors set forth in the Company’s most recent annual report on
Form 10-K, subsequent quarterly reports filed on Form 10-Q and other
filings made with the SEC. Copies of these reports are available from
the SEC’s website or without charge from the Company.

Contacts

Chesapeake Group
Kevin Holmes, 410-825-3930
info@chesapeakegp.com