VANCOUVER, BC--(Marketwired - March 02, 2017) - Aequus Pharmaceuticals Inc. (TSX VENTURE: AQS) ( OTCQB: AQSZF) ("Aequus" or the "Company") announced today that through a previously announced Research Service Contract with Transdermal Research Pharma Lab ("TRPL") it has entered into a binding term sheet (the "Term Sheet") to acquire an exclusive world-wide license to a transdermal patch containing cannabinoids, for the use in epilepsy, Multiple Sclerosis (MS), and certain other neurological disorders.
Aequus has been focused on expanding treatment options for neurological disorders through its current pipeline of development stage and in-licensed products. Aequus recognizes there has been an increased acceptance around the use of cannabinoids for epilepsy and MS in particular, however, uptake by the medical community has been limited by a need for a product that provides precise, controlled dose delivery. The majority of clinical studies performed to date have used orally ingested or inhaled forms of delivery, and further to the challenges with consistency of dosing, these routes of delivery are commonly associated with gastrointestinal side effects such as diarrhea that would be expected to be significantly reduced with a transdermal form.
"Since Aequus' inception our development efforts have largely been focused on differentiated prescription products for the treatment of certain neurological disorders," said Doug Janzen, Chairman and CEO of Aequus. "This announcement broadens our pipeline and is a perfect complement to our growing epilepsy franchise that consists of a long-acting transdermal patch for clobazam currently in development and two recently in-licensed U.S. Food and Drug Association approved slow-release oral anti-epileptics, topiramate extended-release and oxcarbazepine extended-release for the Canadian market."
"We are excited about combining the insights from physicians with our existing drug delivery, clinical development and business development skills to pursue cannabinoid products that meet the needs of physicians and patients suffering from neurological disorders," said Anne Stevens, COO and Director of Aequus.
TRPL and its affiliates who are expected to develop the formulation for the cannabinoid patch also developed the initial formulations for Aequus' three pipeline programs which are now advancing through human proof of concept studies.
In consideration for commercial rights, Aequus will pay royalties on future product revenues. There are no other upfront or milestone payment obligations by Aequus associated with this program.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Aequus Pharmaceuticals Inc. (TSX VENTURE: AQS) ( OTCQB: AQSZF) is a growing specialty pharmaceutical company 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 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.