VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 28, 2015) - Aequus Pharmaceuticals Inc. (TSX VENTURE:AQS) ("Aequus" or the "Company"), a specialty pharmaceutical company with a focus on developing, advancing and promoting differentiated products in Canada, is pleased to announce the completion of the previously announced acquisition of TeOra Health Ltd. ("TeOra"), a privately held Canadian specialty pharmaceutical company (the "Acquisition"). The total consideration for the Acquisition is 420,000 common shares of Aequus (the "Common Shares") which were issued to TeOra shareholders upon closing, and an additional 2,940,000 Common Shares which will be held in escrow and released based on the achievement of certain milestones and performance targets and additional product launches. If all milestones are met, total consideration for the Acquisition will be the issuance of 3,360,000 Common Shares to TeOra shareholders.
As a result of the Acquisition, Aequus now owns 100% of the issued and outstanding common shares of TeOra.
About TeOra Health
TeOra Health Ltd. is a specialty pharmaceutical company focused on the acquisition, licensing and promotion of high quality prescription medications across Canada in ophthalmology and transplant. For further information, please visit www.teora-health.com.
About Aequus Pharmaceuticals
Aequus Pharmaceuticals Inc. (TSX VENTURE:AQS) is a Vancouver-based specialty pharmaceutical company focused on developing, advancing and promoting differentiated products in Canada. Aequus' development pipeline focuses on enhancing delivery methods for approved drugs 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 an alternative delivery system available. Aequus is developing 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 within Canada and to establish strategic partnerships to accelerate and maximize the potential of its product candidates worldwide. For further information, please visit www.aequuspharma.ca.
Forward-Looking Statements:
This release contains 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 in this release include but are not limited to statements relating to: the implementation of our business model and strategic plans. 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 general business and economic conditions. 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 Long-Form Prospectus dated February 18, 2015, 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.
Contact Information:
604-336-7906
investors@aequuspharma.ca