Vancouver, Canada, September 25, 2013 — Aequus Pharmaceuticals Inc., a life sciences company specializing in transdermal reformulations of existing and approved drugs that address the difficult clinical problems of side-effects and patient compliance, announced today the closing of its first round of external financing.
“With this amount raised, we are excited to further the development of our proprietary long-acting, transdermal application of aripiprazole, the world’s largest selling anti-psychotic in its branded oral form.. Over the coming months we expect to initiate human proof of concept studies, and begin filing new intellectual property on additional pipeline projects.” said Doug Janzen, President, Director and Co-Founder of Aequus Pharmaceuticals. “The amount raised was split equally between sophisticated investors from Canada and the United States, and we are pleased to welcome all of our new shareholders to this exciting new venture.”
At the time of closing, Aequus finalized an exclusive, worldwide in-licensing deal of intellectual property enabling for the transdermal application of aripiprazole from New York based laboratory, Transdermal Research Pharm Laboratories, LLC.
Many widely-used oral and injectable psychiatric and CNS medications have existing problems in convenience, side-effects and compliance. A transdermal version has the potential to provide a well-tolerated long-acting alternative. Furthermore, a transdermal vehicle has the benefit of reversibility compared to long acting injectables, which when given, adverse effects cannot be reversed.
“Our business model is centered upon identifying approved medications that could benefit from enhanced drug-delivery systems, including transdermal, thereby addressing currently unmet medical needs,” said Mr. Janzen. “By reformulating approved products with known safety and efficacy profiles, we can pursue an accelerated regulatory pathway with the FDA and other international regulatory bodies, minimizing the development costs, timelines and risks. We anticipate that this will provide a more rapid and consistent return on investment compared to traditional drug development models.”
Aequus’ team has combined world-class expertise and know-how in drug development and transdermal delivery with clinical experience in treating patients with psychiatric and CNS disorders and management experience in financing and advancing growth companies.
Aequus Pharmaceuticals Inc. is a Vancouver-based company, focused 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 commercial presentation can be improved by making a long acting alternative available.
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.