Mr. Steve Saviuk reports

VALEO PHARMA RECEIVES APPROVAL FROM HEALTH CANADA FOR THE TRANSFER OF COMMERCIAL RIGHTS TO AMETOP

Valeo Pharma Inc. has received a notice of compliance from Health Canada authorizing the transfer of the Ametop commercial rights to Valeo. Valeo entered into a licensing agreement with Alliance Pharma PLC in April, 2020, for the exclusive commercialization rights to Ametop in Canada.

"With Health Canada's approval, we are ready to commence commercialization of Ametop in July," said Steve Saviuk, Valeo's president and chief executive officer. "Ametop is the first of the four products we will be launching this summer. We are also anticipating the approval of Redesca, a low molecular weight heparin, in early fall. These launches and the Redesca approval are key drivers in our move towards profitability."

About Ametop (tetracaine hydrochloride gel)

Ametop gel is a 4-per-cent w/w tetracaine hydrochloride gel indicated for percutaneous local anesthetic to produce anesthesia of the skin prior to venepuncture or venous cannulation, including intravenous injections of medications. Ametop has been commercialized in Canada since 1998.

About Valeo Pharma Inc.

Valeo Pharma is a specialty pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on neurodegenerative diseases, oncology and hospital specialty products.

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