Aequus Signs Term Sheet for Five Preservative Free Dry Eye Products
VANCOUVER, BC March 7, 2019 – Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”) is pleased to announce the signing of a term sheet for an exclusive license with Medicom Healthcare Ltd. (“Medicom”), a United Kingdom based pharmaceutical company with a focus on preservative free therapies in ophthalmology. Under the proposed license agreement, Aequus will receive commercial rights to Medicom’s Evolve® line of preservative free dry eye products within Canada. The products involved in the license agreement include:
- Evolve® Hypromellose 0.3% Eye Drops Preservative Free 10ml
- Evolve® Carmellose 0.5% Eye Drops Preservative Free 10ml
- Evolve® Sodium Hyaluronate 0.2% Eye Drops Preservative Free 10ml
- Evolve® Eyelid Wipes
- Evolve® Eyemask
- Flousine 2% Single Dose Unit
Launched in 2015 in Europe, the Evolve® brand has grown to 5 products across 35 countries. With an array of products, the brand can address the various symptoms involved with dry eye disease and blepharitis including discomfort, stinging, burning, and dryness. Currently in Canada, the dry eye market is estimated at over $90M, which includes both prescription and over-the-counter products.
“We’ve been diligently pursuing global ophthalmic products that can make an impact here in Canada,” said Ian Ball, CCO of Aequus. “The addition of the Evolve® line of products more than doubles the size of our commercial product roster and expands our breadth within the ophthalmology space. Furthermore, we’re pleased to continue our focus on preservative free products here in Canada, a market that has been underserved in this country while large regions such as the USA and Europe have transitioned to preservative free as the products of choice.”
“We are pleased to announce our second product partnership with Aequus,” said Simon Martin, Founder and CEO of Medicom Healthcare. “We are like-minded companies with a single focus on delivering Preservative Free For Everyone within the ophthalmic space.”
Under the proposed terms of the agreement Medicom will supply the products while Aequus will be responsible for marketing, distribution, and sales in Canada upon approval of the products by Health Canada. Aequus expects all 6 products to be launched in Canada this year with peak annual revenues from this basket of products estimated to be approximately $5M.
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 has grown its pipeline to include several commercial products in ophthalmology and transplant, and a development stage pipeline in neurology and psychiatry with a goal of addressing the need for improved medication adherence through enhanced delivery systems. As a complement to its focus in neurology, 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 MEDICOM HEALTHCARE LTD.
Medicom Healthcare, is a rapidly growing, speciality Ophthalmic company with a strong track record of execution, having developed and launched 25 eye care products globally since 2007. Medicom Healthcare’s mission is to provide high quality eye care products that are designed, manufactured and delivered with excellence and to continually improve the awareness, accessibility and affordability of eyecare around the world. Medicom Healthcare is committed to delivering their vision of Preservative Free for Everyone. For further information, please visit www.medicomhealthcare.com
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 include but are not limited to statements relating to: the launch of the products within this calendar year, the successful execution of the broader license agreement, peak annual sales of $5M, the addition of products to the Company’s portfolio. 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: obtaining positive results of clinical trials; obtaining regulatory approvals; general business and economic conditions; the Company’s ability to successfully outlicense or sell its current products and in-license and develop new products; 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; and the Company’s ability to protect patents and proprietary rights. 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 Annual Information Form dated April 30, 2018, 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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