Aequus Pharmaceuticals Inc (CVE:AQS) (OTCMKTS:AQSZF) said Monday that it has signed an exclusive distribution agreement with Medicom Healthcare Ltd, to distribute the private UK-based company’s 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, chief commercial officer at 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.”
Aequus takes medications that are already available in the US, UK, or elsewhere and licenses or acquires the Canadian rights.
It then takes the clinical data that supported that approval and works with Health Canada, Canada’s national health system, to get the drugs approved and commercialized in Canada.
“The demand for premium preservative free ophthalmology products in Canada is on a steady rise,” said Medicom Healthcare CEO Simon Martin. “Our Evolve range has been through years of innovative engineering and specialized formulations to offer health benefits to patients globally.”
According to the terms, Medicom will supply the products while Aequus will be responsible for marketing, distribution, and sales in Canada once Health Canada gives its approval. Aequus expects peak annual revenue from this basket of products to be roughly $10 million.
Medicom has a broad portfolio of ophthalmology products that span both prescription and over-the-counter products. The Evolve brand of preservative free dry eye products are available in 35 countries.
The eye meds address various dry eye disease and blepharitis which causes inflammation of the eyelids. It commonly occurs when tiny oil glands located near the base of the eyelashes become clogged.
The company said its partner Medicom has a “robust” research and development division, and Aequus will have first dibs, and right of refusal on any new product Medicom wishes to sell in Canada.
Aequus is a specialty pharma company focused on commercializing drugs meant for the highly specialized areas of neurology, organ transplant and ophthalmology.
Contact Uttara Choudhury at [email protected]