Aequus and Scientus Agree to Terms for a Medical Cannabis Commercial Supply and Product Development Collaboration
VANCOUVER, BC–(Marketwired – August 01, 2017) – Aequus Pharmaceuticals Inc., (“Aequus”) (TSX VENTURE: AQS) (OTCQB: AQSZF), a specialty life sciences company focused on providing patients with differentiated and enhanced delivery systems for existing and approved drugs, and Scientus Pharma Inc., (“Scientus”), a biopharmaceutical company focused on R&D and product commercialization for extracts and formulations related to medical cannabinoids and their derivatives, announced today that they have signed a non-binding term sheet on a collaboration to develop, assess clinical performance, and commercialize a cannabinoid containing transdermal formulation designed and optimized to address both acute and chronic treatment of Resistant Epilepsy, and certain other neurological disorders.
Scientus will be the supplier of specific cannabinoid extracts and will have an option to co-fund the clinical development of this program. The parties expect to expand the collaboration to additional product development programs in the future.
“We are delighted to collaborate with Scientus for development and commercial supply as we advance this first product, a pharmaceutical-grade, transdermal cannabinoid based therapy for use in epilepsy and potentially other additional neurological disorders,” said Doug Janzen, Chairman and CEO of Aequus. “Within only three months of announcing our involvement in the medical cannabis space, we’ve completed a comprehensive survey with physicians identifying current challenges and validating our product concepts, partnered with the Centre for Drug Research and Development (CDRD) for formulation development, and have now formed a product specific relationship with a high quality, medically focused Licensed Dealer who shares our vision to improve the quality of cannabis-based options currently available in progressive markets, such as Canada.”
Scientus Pharma, a vertically-integrated biopharmaceutical company is both a Licensed Dealer under the Controlled Substances Act, and a Licensed Producer Applicant under the ACMPR. Scientus is raising the bar of cannabinoid products from medical-grade to pharmaceutical-grade. Leveraging its proprietary, patent-pending formulation and processing technologies, Scientus Pharma is committed to leading the medical cannabis market towards pharmaceutical standards in manufacturing, formulations and dosing.
“Our product pipeline includes a range of dosing forms in solid, liquid and aerosolized forms targeting a number of indications, including neuropathic pain. We are excited about broadening that pipeline to include transdermal technologies through a collaboration with Aequus,” said Trevor Folk, President and CEO of Scientus. “Transdermal approaches have significant potential for safe, effective therapies in a number of disease indications and we are looking forward to leveraging Aequus’ expertise to advance the science in the area of refractive epilepsy.”
The economics of each product development program under this agreement will be allocated based on the respective party’s contribution of funding, resources and intellectual property made during product development.
About Aequus Pharmaceuticals
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.
Scientus Pharma is a vertically-integrated biopharmaceutical Licensed Dealer under the Narcotics Control Regulations of Canada with a focus on developing and commercializing pharmaceutical-grade cannabinoid derivative products. Being one of a limited number of Licensed Dealers in Canada authorized to handle cannabinoid products, Scientus Pharma has the ability to wholesale, buy, process and sell cannabinoid derivatives, from and to Licensed Producers, as well as international markets.
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: identifying barriers to current use and potential product offerings in specific therapeutic areas, using results from the medical cannabis primary research study to guide development efforts in medical cannabis, and enhancing delivery systems used with medical cannabis. 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.