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Aequus Pharmaceuticals Inc
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Close 2020-09-21 C$ 0.135
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Aequus applies to Health Canada for new Evolve product

2020-09-22 10:31 ET - News Release

Mr. Doug Janzen reports


Aequus Pharmaceuticals Inc. has expanded its partnership with Medicom Healthcare to include an additional formulation in the Evolve preservative-free dry eye product line. Aequus has submitted an application for this new product with Health Canada for processing of a new medical device licence (MDL).

The new Evolve product added to the existing agreement is a unique preservative-free formulation. The product formulation combines Hyaluronate and Carbomer 980 for the treatment of patients with more intense dry eye symptoms.

With the addition of this product to the Health Canada submission, Aequus plans to launch a full range of products designed to treat patients suffering from mild to more intensive forms of dry eye disease later in 2020.

"In preparation for launch, we have engaged Canadian eye care professionals by creating advisory boards and research groups, built B2B relationships with clinic networks, added specialized personnel to our commercial team, and planned branded marketing campaigns to targeted customer segments," said Doug Janzen, chief executive officer and chairman of Aequus Pharmaceuticals. "Our team has a deep understanding of ophthalmology and years of operational experience. We see our new product launches as being the perfect fit for Canadian patients who have been wanting a wider range of options for dry eye treatments. We are more than ready now for the anticipated approval of these three Evolve products in Canada that will be launching into a $90-million dry eye market."

Aequus has now submitted three new products for Health Canada approval. As with the previous submissions, the additional Evolve product was submitted for approval with Health Canada as a Class II medical device. According to Health Canada, the target review time for a Class II MDL application is typically 20 days. Aequus is moving ahead with plans in accordance with this timeline but acknowledges that review timing may be affected by factors out of our control such as backlogs caused by COVID-19.

About Aequus Pharmaceuticals Inc.

Aequus Pharmaceuticals is a growing specialty pharmaceutical company focused on developing and commercializing high-quality, differentiated products. Aequus has grown its sales and marketing efforts to include several commercial products in ophthalmology and transplant. 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 licence, remaining focused on highly specialized therapeutic areas.

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