Aequus Adds Zepto Capsulotomy System, A Revenue Generating Product, to Commercial Ophthalmology Portfolio
VANCOUVER, B.C., April 12, 2018 (GLOBE NEWSWIRE) -- Aequus Pharmaceuticals Inc. (TSX-V:AQS) (OTCQB:AQSZF) (“Aequus” or the “Company”), is pleased to announce it has entered into a commercial agreement with Mynosys Cellular Devices, an ophthalmology focused medical device company based in Fremont, California, (“Mynosys”) for the Canadian distribution, sales and marketing of the Zepto ® Precision Pulse Capsulotomy System (“Zepto”) for cataract surgery. Zepto was approved for sale in Canada by the Therapeutic Products Directorate in February 2018, and through this agreement is expected to be launched in Canada by Aequus within the next quarter. Zepto will be marketed by Aequus’ current ophthalmology salesforce and is an attractive complement to its existing product offering.
“The addition of the Zepto device expands Aequus’ ophthalmology portfolio into the cataract surgical space and reaffirms our commitment to this therapeutic area,” said Anne Stevens, COO and Director of Aequus. “In meetings with Canadian ophthalmologists, clinicians expressed a strong interest for this product, particularly in the premium intraocular lens market and the more challenging cases, which we estimate to represent over 20% of cataract cases performed each year in Canada.”
Zepto has been used in thousands of cataract surgeries in Asia, Europe, and Central America since February 2017, and most recently in the US since August 2017.
John Hendrick, President and CEO of Mynosys, stated: “I am delighted to have Aequus as our partner to bring Zepto to the market in Canada. We have seen a significant demand for Zepto around the world and fully expect that Zepto will be embraced by the Canadian market as well”.
This agreement has an initial term of three years, with an automatic and continuous renewal of additional three year terms, provided Aequus meets minimum sales targets. Aequus will retain profits on the products sold in Canada.
About Zepto Precision Pulse Capsulotomy System
The Zepto capsulotomy system provides consistent, high quality anterior lens capsulotomies during cataract surgery in a convenient, cost-effective, disposable format. One of the key features is a collapsible super-elastic nitinol capsulotomy ring element with micron scale elements to create the unique and strong Zepto capsulotomy edge. It also has a clear silicone suction cup to enable suction and generate Zepto’s proprietary capsulotomy action and to allow Zepto capsulotomies on the patient’s individual visual axis. The AMA has recently given a category III code in the US as they see the distinctive application and benefit of aligning on the patient’s own visual axis.
Zepto integrates seamlessly into the routine steps of cataract surgery with phacoemulsification. The surgeon does not need to alter his or her normal routine. Instead of capsulorrhexis forceps or a cystitome, the surgeon simply reaches for Zepto.
The Zepto Capsulotomy System consists of a disposable Zepto capsulotomy handpiece that is attached to a small control console. Zepto uses the precision pulse capsulotomy method, a proprietary combination of calibrated suction and a 4-millisecond multipulse energy algorithm to produce highly accurate capsulotomies. Zepto’s unique single use hand piece can be inserted through incisions as small as 2.2mm, to create a perfectly circular and precisely placed capsulotomy that can be centered on the visual axis. Zepto is ideal for surgery using premium lenses as well as difficult cases and creates a capsulotomy with an edge strength greater than conventional methods or femtosecond lasers. For more information, please visit https://www.zepto-cataract.com/.
About Aequus Pharmaceuticals, Inc.
Aequus Pharmaceuticals, Inc. (TSX-V:AQS) (OTCQB:AQSZF) is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus’ development stage pipeline includes several products in neurology and psychiatry with a goal of addressing the need for improved medication adherence through enhanced delivery systems. With a focus in neurology and other specialty areas, our most recent addition to the development pipeline was a long-acting form of medical cannabis, where there is a high need for a consistent, predictable and pharmaceutical-grade delivery of products for patients. Aequus intends to commercialize its internal programs in Canada alongside its current portfolio of marketed established medicines and will look to form strategic partnerships that would maximize the reach of its product candidates worldwide. Aequus plans to build on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition or license; remaining focused on highly specialized therapeutic areas. For further information, please visit www.aequuspharma.ca .
About Mynosys Cellular Devices
Mynosys Cellular Devices Inc. is a medical device company providing innovative solutions to help surgeons achieve perfection in cataract surgery. Our product Zepto ®, is a unique micro-fabricated instrument that provides unmatched precision during surgery on a millisecond time scale to tackle routine and challenging cases with confidence and efficiency. Zepto technology is patented worldwide and is available in selected markets through local distributors.
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements in this release include but are not limited to statements relating to: identifying barriers to current use and potential product offerings in specific therapeutic areas, the implementation of our business model and strategic plans, Aequus’ sales and marketing efforts. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward-looking statements included in this release, the Company has made various material assumptions, including, but not limited to: the success of Aequus’ sales and marketing efforts, general business and economic conditions, the assumption that the Company’s current good relationships with its manufacturer and other third parties will be maintained, the availability of financing on reasonable terms, the Company’s ability to attract and retain skilled staff, market competition, the products and technology offered by the Company’s competitors. In evaluating forward-looking statements, current and prospective shareholders should specifically consider various factors set out under the heading “Risk Factors” in the Company’s Annual Information Form dated April 29, 2016, a copy of which is available on Aequus’ profile on the SEDAR website at www.sedar.com, and as otherwise disclosed from time to time on Aequus’ SEDAR profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward-looking statements.
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