Aequus Announces Sale of Zimed PF to Luvo Medical Technologies
VANCOUVER, May 23rd, 2025 – TheNewswire - Aequus Pharmaceuticals Inc. (TSX-V: AQS) (“Aequus” or the “Company”), a specialty pharmaceutical company focused on bringing healthcare solutions to Canadians through licensing and partnerships, and Luvo Medical Technologies Inc. (“Luvo”), today announce the signing of an Asset Purchase Agreement for the sale of Zimed® PF (the “Transaction”). Unless otherwise noted, all figures are in Canadian currency.
“Since Zimed® PF was launched in 2023 in collaboration with Medicom Healthcare Ltd, we’ve been pleased with the positive impact it has had with Canadian Ophthalmologists and their patients. This transaction with Luvo will ensure consistent product supply to Canadians while significantly improving Aequus’ financial outlook. We look forward to working with the Luvo team on transitioning Zimed® PF operations. Aequus will be actively seeking opportunities to use the remaining company in strategic partnerships, or to pursue other future endeavors” said Doug Janzen, CEO of Aequus.
Under the terms of the agreement, Luvo will pay Aequus a lump sum payment of $400,000 at the closing of the transaction and an ongoing royalty of 6% on gross profit attributable to the sale of Zimed PF® (less certain costs and fees) until July 29th, 2029.
Until closing, Luvo will be responsible for managing distribution and commercialization efforts of Zimed® PF. If existing inventory is not depleted by closing, Luvo will purchase the outstanding inventory.
The Transaction is expected to close in Q4 2025 upon the transfer of the Drug Identification Number (DIN) and is subject to certain closing conditions, including TSX Venture Exchange and shareholder approval. Aequus expects to call a special meeting of shareholders to be held in Q3 2025 for approval of the Transaction. There is no guarantee that the Transaction will close on the terms set forth herein or at all. If, following closing of the Transaction, a future strategic partnership or other transaction is not available, Aequus may pursue other alternatives including a potential wind-up of operations.
ABOUT LUVO MEDICAL TECHNOLOGIES INC.
Luvo Medical Technologies Inc. is a subsidiary of Clarion Medical Technologies Inc., a leading Canadian provider of medical equipment and consumables to aesthetic and vision providers in private clinics and hospitals.
ABOUT MEDICOM HEALTHCARE LTD
Medicom Healthcare Ltd is a UK-based specialty pharmaceutical company with a global presence specialising in high quality eyecare products designed to protect the cornea and treat dry eye syndrome, blepharitis and glaucoma.
ABOUT AEQUUS PHARMACEUTICALS INC.
Aequus Pharmaceuticals Inc. (TSX-V: AQS) is a specialty pharmaceutical company, with a focus on commercializing value-added products in specialty therapeutic areas in the Canadian market.
FORWARD-LOOKING STATEMENT DISCLAIMER
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 penetration and growth of ZIMED® PF following its launch, expectations regarding prospects or opportunities in the market, the Company’s future objectives or plans, including the possibility of winding up of the Company, the benefits of the transaction and improvement of Aequus’ financial outlook, the anticipated meeting date in respect of the shareholder meeting, completion of the transaction and the timing thereof. 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 regulatory and shareholder approvals; satisfaction of other conditions to the consummation of the proposed transaction on the proposed terms and schedule; general business and economic conditions; the Company’s ability to successfully out license or sell its current product and in-license or develop new products; the assumption that the Company’s current good relationships with 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; the impact of global events on the Company’s operations; 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 Aequus’ latest annual Management’s Discussion and Analysis, a copy of which is available on Aequus’ profile on SEDAR+ at www.sedarplus.ca 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Aequus Investor Relations
Email: investors@aequuspharma.ca
Phone: 604-336-7906