VANCOUVER, BC March 7, 2019 – Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”) is pleased to announce the signing of a term sheet for an exclusive license with Medicom Healthcare Ltd. (“Medicom”), a United Kingdom based pharmaceutical company with a focus on preservative free therapies in ophthalmology. Under the proposed license agreement, Aequus will receive commercial rights to Medicom’s Evolve® line of preservative free dry eye products within Canada. The products involved in the license agreement include:
Launched in 2015 in Europe, the Evolve® brand has grown to 5 products across 35 countries. With an array of products, the brand can address the various symptoms involved with dry eye disease and blepharitis including discomfort, stinging, burning, and dryness. Currently in Canada, the dry eye market is estimated at over $90M, which includes both prescription and over-the-counter products.
“We’ve been diligently pursuing global ophthalmic products that can make an impact here in Canada,” said Ian Ball, CCO of Aequus. “The addition of the Evolve® line of products more than doubles the size of our commercial product roster and expands our breadth within the ophthalmology space. Furthermore, we’re pleased to continue our focus on preservative free products here in Canada, a market that has been underserved in this country while large regions such as the USA and Europe have transitioned to preservative free as the products of choice.”
“We are pleased to announce our second product partnership with Aequus,” said Simon Martin, Founder and CEO of Medicom Healthcare. “We are like-minded companies with a single focus on delivering Preservative Free For Everyone within the ophthalmic space.”
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 all 6 products to be launched in Canada this year with peak annual revenues from this basket of products estimated to be approximately $5M.
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