Aequus Pharmaceuticals Lists on the TSX Venture Exchange and Appoints New Director
VANCOUVER, Canada, March 17, 2015 – Aequus Pharmaceuticals Inc. (“Aequus” or the “Company”) (TSX-V: AQS) announced today that the Company’s common shares have been listed for trading on the TSX Venture Exchange (“TSX-V”) under the trading symbol “AQS”.
Aequus was founded in January 2013 with the intention of developing and commercializing long-acting alternatives to currently approved drugs that are limited by non-compliance, high-frequency dosing, first-pass metabolism side effects or painful injections. Aequus’ pipeline has focused to date on long-acting transdermal formulations for certain psychiatry and neurology medications where low patient compliance could lead to clinically significant relapses. Its lead program, AQS-1301, is a once-weekly transdermal formulation of aripiprazole, for the potential use in the treatment of irritability associated with autistic disorder, bipolar I disorder, schizophrenia and major depressive disorder.
“Over the past two years we have made significant advances in defining our pipeline and optimizing the formulation for our lead program,” said Mr. Janzen, Chairman and CEO of Aequus. “Being publicly traded is a fundamental step for our company, giving us access to broader pools of capital and enabling our strategic plan for growth.”
At the same time, Aequus is pleased to announce that it has appointed Hamed Shahbazi as an independent director on its board of directors effective immediately. Mr. Shahbazi is the founder, Chairman and CEO of TIO Networks, a multi-channel payment solution that specializes in delivering consumer bill payment and other financial services through a variety of automated self-service, retail point-of-sale, mobile and web-based methodologies. “We are delighted to welcome Mr. Shahbazi to the Aequus team,” said Mr. Janzen. “His many years of experience as an entrepreneur and public company director will be a great benefit to the Company.”
The Company also announced today that it has granted 750,000 incentive stock options to its directors and officers in accordance to the Company's Stock Option Plan. These stock options are granted for an eight-year term and an exercise price of $0.55 per common share. Of these options, 432,500 will vest immediately and 317,500 will vest over a 2-year period starting March 6, 2016.
About Aequus Pharmaceuticals Inc.
Aequus Pharmaceuticals Inc. is a Vancouver-based specialty pharmaceutical company focused on enhancing delivery methods for approved drugs and select consumer products that are limited by non-compliance, high frequency dosing, first-pass metabolism side-effects, painful injections, or where the therapeutic profile can be improved by making a long-acting alternative available.
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” 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; and our ability to access capital.
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 and the availability of financing on reasonable terms.
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.
Aequus Investor Relations