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VANCOUVER, Canada, May 27, 2014 — Aequus Pharmaceuticals, Inc., a life sciences company specializing in new transdermal formulations of existing and approved drugs, announced today that it has entered into an agreement with Corium International, Inc., a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty transdermal products, to collaborate on the evaluation and development of a transdermal aripiprazole product candidate formulated by Aequus.
The collaboration will initially be centered on feasibility studies and preclinical development activities. Following this, the parties anticipate that they will advance the product through clinical trials, and jointly participate in the commercialization of the product. “We are excited to have entered into this relationship with Corium, a world-class transdermal development and manufacturing company, to advance our lead program, which we expect to enter clinical trials in 2014,” said Doug Janzen, President and CEO, Aequus Pharmaceuticals. “We are pleased to be working with Corium on this exciting product opportunity, and we look forward to the potential co-development of additional transdermal products with Corium in the near future, particularly in the central nervous system therapeutic area.”
Aequus’ lead program is a transdermal application of aripiprazole. Currently available as a once a day oral tablet under the brand name Abilify® and as a recently launched 30-day injectable under the brand name Abilify Maintena®, aripiprazole is used to treat CNS disorders including schizophrenia, bipolar disorder and major depressive disorder. It is one of the top three anti-psychotic agents worldwide, with 2013 sales exceeding $6bn. Despite the benefits aripiprazole provides, up to one third of patients prescribed oral aripiprazole have been shown to have poor adherence to their daily dosing schedule. Lack of adherence is a major concern, particularly in the treatment of schizophrenia, where patients could develop worsening of symptoms, relapse, suicidal attempts, repeated emergency room visits or re-hospitalization, and poor functional outcomes. Aequus is pursuing a new long-acting, transdermal alternative of aripiprazole to address this serious issue. Further, primary research conducted by Aequus involving 51 US psychiatrists highlighted the advantage of a long-acting transdermal product over other long-acting dosage forms such as intra-muscular injections due to the reversibility of a transdermal patch and the avoidance of painful injections.
ABOUT AEQUUS PHARMACEUTICALS INC.
Aequus Pharmaceuticals Inc. is a Vancouver-based company, focusing 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. NorthView Ventures acted on behalf of Aequus in negotiating the agreement with Corium.
Abilify® is a registered trademark of Otsuka America Pharmaceutical, Inc.
Abilify Maintena® is a registered trademark of Otsuka Pharmaceutical Co., Ltd
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 implementation of our business model and strategic plans; revenue growth trends into the future; expected timing for product launches; the Company’s expected revenues; the regulatory approval of its products; the Company’s ability to attract international partners; and ongoing discussions with and the Company’s ability to secure potential partners to further grow our product 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 regulatory approvals; general business and economic conditions; the Company’s ability to successfully out license or sell its current products and in-license and 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 the coronavirus (COVID-19) 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 the Company’s Annual Information Form dated April 30, 2021, 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.