Aequus Announces a Binding Term Sheet for the Marketing and Promotion of Transplant Products in Canadian Market
Vancouver, BC. October 1, 2015 – Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”), a specialty pharmaceutical company with a focus on developing, advancing and promoting differentiated products, announced today it has entered into a binding term sheet (the “Term Sheet”) with an unnamed partner in Canada to be its exclusive promotion and marketing partner in the Canadian market for tacrolimus IR, an immunosuppressive therapy used for the treatment and prevention of acute rejection following organ transplantation, and potentially in connection with two additional transplant products. The Term Sheet provides that the parties will negotiate and enter into a more detailed, definitive service agreement. Aequus anticipates generating revenues from tacrolimus IR in Q1 of 2016.
There are approximately 2,000 transplants performed each year in Canada. Immunosuppressive therapy is prescribed to patients as part of their overall lifelong management to prevent graft rejection. The immunosuppressive market in Canada is estimated to be over $300M CAD, of which, tacrolimus products account for approximately 30% of the market. Patients are typically prescribed more than one medication with an estimated annual cost of therapy per patient of $15,000 CAD.
“The additional promotion and marketing activities provided for under the Term Sheet significantly increase the resources behind generic tacrolimus, and will provide Canadian transplant recipients with a safe and affordable alternative to this lifesaving medication,” said Ian Ball, Chief Commercial Officer at Aequus. “We will be able to leverage the significant body of existing tacrolimus clinical data in transplants from around the world to expand the access to patients in Canada.”
The Term Sheet expands on the existing Ophthalmology deal between the organisations and enables both companies to maximize the treatment and market opportunity of tacrolimus in Canada by leveraging Aequus’ core competencies in the commercialization of high-quality products, as well as its strong relationships with key opinion leaders, physicians, payers and patients across the transplant community in Canada. This extended relationship builds on Aequus’ newly acquired commercial infrastructure in Canada and leverages the value of existing internal resources.
“This development provides us with a step forward towards building a focused therapeutic transplant franchise,” said Doug Janzen, Chairman and CEO of Aequus. “It is part of our broader strategy to become a leading provider of high quality medications to the benefit of patients, physicians and payers in Canada.”
About Aequus Pharmaceuticals
Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) is a Vancouver-based, specialty pharmaceutical company primarily 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. Aequus intends to commercialize its internal programs in Canada and to establish strategic partnerships to accelerate product development and maximize the reach of its product candidates worldwide. Through the recent acquisition of TeOra Health, Aequus now has a Canadian commercial platform to build on for the launch of 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.
Forward-Looking Statement Disclaimer
This release contains 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: the implementation of our business model and strategic plans. 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 general business and economic conditions. In evaluating forward-looking statements, current and prospective shareholders should specifically consider various factors set out herein and under the heading “Risk Factors” in the Company’s Long-Form Prospectus dated February 18, 2015, 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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