Aequus Signs Exclusive Distribution Agreement with Medicom Healthcare for Canadian Distribution Rights of Ophthalmic Products
VANCOUVER, British Columbia, July 29, 2019 (GLOBE NEWSWIRE) -- Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) ("Aequus" or the "Company") is pleased to announce the signing of an exclusive distribution agreement with Medicom Healthcare Ltd. ("Medicom"), a United Kingdom based pharmaceutical company with a focus on preservative free therapies in ophthalmology. Under the distribution agreement, Aequus will receive commercial rights to novel portions of Medicom's portfolio of ophthalmology products including the Evolve® line of preservative free dry eye products within Canada.
"We are delighted to be ratifying the previously announced term sheets with Medicom," said Ian Ball, CCO of Aequus. "We see many strategic opportunities to expand our relationship with Medicom and this Agreement links us to a partner that has a similar entrepreneurial outlook to Aequus. This portfolio of ophthalmology products will be the largest range of preservative free therapies in Canada in a tried and tested device that patients like. It's a tremendous boost for Aequus and really cements our commitment to ophthalmology."
"The demand for premium preservative free ophthalmology products in Canada is on a steady rise." said Simon Martin, Founder and CEO of Medicom Healthcare. "Our Evolve range has been through years of innovative engineering and specialised formulations to offer health benefits to all patients globally. This is an exciting step to collaborate with an integrated growth-oriented company like Aequus. It is a partnership that will build the brand and aid consumer awareness in the territory because when it comes to eye care, it is not just preservative free for some but preservative free for everyone."
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 peak annual revenues from this basket of products to be estimated at approximately $10M.
Medicom has a broad portfolio of ophthalmology products that span both prescription and over-the-counter products. Their Evolve® brand of preservative free dry eye products has had particular success globally, with the products being available in 35 countries. The brand can address the various symptoms involved with dry eye disease and blepharitis including discomfort, stinging, burning, and dryness. Furthermore, Medicom continues to have a robust research and development division, in which Aequus will have first right of refusal on any new products Medicom wishes to commercialize in Canada.
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
Forward-Looking Statements:
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: estimated sales of $10M, Aequus will have first right of refusal on any new products Medicom wishes to commercialize in Canada. 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.
Aequus Contact Information:
Aequus Investor Relations
Email: [email protected]
Phone: 604-336-7906
Medicom Healthcare Contact Information:
Media Relations
Email: [email protected]
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