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.
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 in this release include but are not limited to statements relating to: the Company entering into a definitive license agreement with TRPL; the payment of future royalties to TRPL; and the Company's intention to commercialize its internal programs in Canada, form strategic partnerships and build its Canadian commercial platform. 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 positive results of clinical trials, 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 its manufacturer and other 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 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 under the heading "Risk Factors" in the Company's Annual Information Form dated April 29, 2016, 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.