Santen and Aequus Enter Into a Commercial Collaboration in Canada
VANCOUVER, BC -- (Marketwired) -- 06/13/17 -- Aequus Pharmaceuticals Inc. (TSX VENTURE: AQS)(OTCQB: AQSZF) ("Aequus" or the "Company"), today announced that it has entered into an exclusive agreement in Canada with Santen Incorporated, the Canadian Branch ("Santen"), a subsidiary of Santen Pharmaceutical Co., Ltd., an international market leader in ophthalmology headquartered in Osaka, Japan. Under the agreement, Aequus and Santen will plan to co-commercialize an undisclosed ophthalmology therapeutic product currently under review by Health Canada for marketing approval in Canada.
"We are delighted to collaborate with Santen, a company with a rich history and focus in ophthalmology, as it seeks to bring innovative eye care therapies to patients in Canada affected by ophthalmic diseases. This agreement recognizes and builds upon the commitment of both companies to provide patients with high-quality and differentiated therapies, and will add to the commercial ophthalmology franchise we have been building at Aequus since the successful launch of Vistitan in 2016," said Doug Janzen, Chairman and CEO of Aequus.
"We have a proven track record and well established relations with key Canadian stakeholders in ophthalmology," said Ian Ball, Chief Commercial Officer at Aequus. "The addition of Santen's ophthalmology product and experience to Aequus' existing product offering will further strengthen our growing ophthalmology portfolio and demonstrates our commitment to grow in this important therapeutic area."
"Santen is pleased to partner with Aequus and looks forward to leveraging our joint expertise and resources to make important treatment options available for patients in Canada," said Akihiro Tsujimura, Executive Corporate Officer and Head of Santen North America. "Aequus is an ideal partner for a specialty ophthalmic company, given their well-established sales force and relationships with eye care specialists. This collaboration further reinforces Santen's mission to bring ophthalmic therapies to patients around the world."
Under the terms of this agreement, Aequus and Santen will share the strategic responsibility associated with promotional activities for a currently undisclosed ophthalmic product in Canada. Santen will be responsible for product manufacturing and distribution, while Aequus will be mainly responsible for the field activities. Net product revenues will be split between Aequus and Santen over a ten-year term. The agreement also contemplates fees to Aequus in the event of Santen internalizing the asset prior to the end of the term.
