Aequus Signs Exclusive Distribution Agreement with Medicom Healthcare for Canadian Distribution Rights of Ophthalmic Products
VANCOUVER, British Columbia, July 29, 2019 (GLOBE NEWSWIRE) -- Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”) is pleased to announce the signing of an exclusive distribution agreement with Medicom Healthcare Ltd. (“Medicom”), a United Kingdom based pharmaceutical company with a focus on preservative free therapies in ophthalmology. Under the distribution agreement, Aequus will receive commercial rights to novel portions of Medicom’s portfolio of ophthalmology products including the Evolve® line of preservative free dry eye products within Canada.
“We are delighted to be ratifying the previously announced term sheets with Medicom,” said Ian Ball, CCO of Aequus. “We see many strategic opportunities to expand our relationship with Medicom and this Agreement links us to a partner that has a similar entrepreneurial outlook to Aequus. This portfolio of ophthalmology products will be the largest range of preservative free therapies in Canada in a tried and tested device that patients like. It’s a tremendous boost for Aequus and really cements our commitment to ophthalmology.”
“The demand for premium preservative free ophthalmology products in Canada is on a steady rise.” said Simon Martin, Founder and CEO of Medicom Healthcare. “Our Evolve range has been through years of innovative engineering and specialised formulations to offer health benefits to all patients globally. This is an exciting step to collaborate with an integrated growth-oriented company like Aequus. It is a partnership that will build the brand and aid consumer awareness in the territory because when it comes to eye care, it is not just preservative free for some but preservative free for everyone.”
Under the proposed terms of the agreement Medicom will supply the products while Aequus will be responsible for marketing, distribution, and sales in Canada upon approval of the products by Health Canada. Aequus expects peak annual revenues from this basket of products to be estimated at approximately $10M.
Medicom has a broad portfolio of ophthalmology products that span both prescription and over-the-counter products. Their Evolve® brand of preservative free dry eye products has had particular success globally, with the products being available in 35 countries. The brand can address the various symptoms involved with dry eye disease and blepharitis including discomfort, stinging, burning, and dryness. Furthermore, Medicom continues to have a robust research and development division, in which Aequus will have first right of refusal on any new products Medicom wishes to commercialize in Canada.
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