- Ophthalmology becomes additional strategic therapeutic
area
- Significant market opportunities with more than 6
million1 Canadians suffering from dry eye disease and
400,0002 Canadians suffering from open-angle glaucoma or
ocular hypertension
- Valeo to start recognizing revenues from
XIIDRA® and
SIMBRINZA® in Q4-22
MONTREAL, Aug. 2, 2022 /CNW Telbec/ - Valeo Pharma
Inc. (TSX: VPH) (OTCQB: VPHIF) (FSE: VP2) ("Valeo" or
the "Company"), a Canadian pharmaceutical company, announced
today that it has entered into a Commercialization and Supply
Agreement (the "Agreement") with Novartis Pharmaceuticals
Canada Inc. ("Novartis") for the Canadian commercialization
by Valeo of two innovative ophthalmic therapies. Under the
Agreement, Valeo becomes the exclusive distributor of
XIIDRA® (lifitegrast) and
SIMBRINZA® (brinzolamide / brimonidine tartrate)
in Canada, and as such, will be
responsible for all commercial and medical activities. The
Agreement is effective July 29, 2022 and will continue for an
initial term of seven years. XIIDRA® is a
prescription eye drop solution indicated for the treatment of the
signs and symptoms of dry eye disease 3.
SIMBRINZA® is a prescription eye drop
solution indicated for the reduction of intraocular pressure (IOP)
in adult patients with open-angle glaucoma or ocular hypertension
for whom a monotherapy provides insufficient IOP reduction AND when
the use of SIMBRINZA® is considered appropriate
4.
"We are extremely pleased to be expanding our relationship with
Novartis with these innovative ophthalmic therapies and adding
Ophthalmology as a strategic therapeutic focus for Valeo.
XIIDRA® and
SIMBRINZA® will start impacting our revenues
in Q4-2022 as we assume all commercial activities in Canada", said Steve
Saviuk, CEO of Valeo. "These products have significant
upside revenue potential which will be supported by our dedicated
Ophthalmic commercial unit. The addition of these products
significantly increases our revenue base and accelerates our drive
to profitability."
"This second agreement with Valeo Pharma fits with our overall
strategy to provide innovative medicines that have the potential to
improve health outcomes," said Andrea
Marazzi, Country President, Novartis Pharmaceuticals Canada
Inc. "We have seen Valeo's commitment and focus in delivering on
patient needs in the respiratory space and now, by bringing
XIIDRA® and SIMBRINZA® into
their portfolio, they will be able to help improve the vision of
numerous Canadians."
Commenting on this new commercial agreement with Novartis,
Frederic Fasano, Valeo's President
and COO said, "The addition of XIIDRA® and
SIMBRINZA® in our product portfolio is
allowing us to enter a new strategic therapeutic area with large
unmet medical needs and a rich R&D pipeline of innovative
treatments. With two very high quality products, supported by
outstanding phase III clinical data, Valeo will gain expertise and
build competitive infrastructure to become a major player in this
area. We look forward to rapidly getting our medical and commercial
team to work with the scientific and medical community to support
access to XIIDRA® and
SIMBRINZA® for the overall benefit of
Canadian patients."
It is estimated that around twenty one percent of Canadians
experience ocular symptoms associated with dry
eye1,5 and 400,000 Canadians6 suffer
from glaucoma, with open angle glaucoma accounting for
95%6 of the cases.
References:
|
1- Ocul Surf. 2019
Jul;17(3):526-531
|
2- CNIB
Foundation
|
3- XIIDRA Product
Monograph, dated February 13, 2020
|
4- SIMBRINZA Product
Monograph, dated February 10, 2017
|
5- IQVIA CDH
|
6- CMAJ, September 8,
2015, 187(12)
|
|
Special Event Webcast and
Conference Call
Valeo will host a conference call to discuss the US$40 million non-dilutive financing and new
products commercialization and supply transactions on
Tuesday August 2, 2022, at
9.30am (ET). The telephone numbers to
access the conference call are 416-764-8659 and 1-888-664-6392. An
audio replay of the call will be available. The numbers to access
the audio replay are 416-764-8677 and 1-888-390-0541 using the
following access code (292407 #).
A live audio webcast of the conference call will be available
via: https://app.webinar.net/2EK7WNaoA0j
About
XIIDRA®
XIIDRA® is a lymphocyte function associated antigen-1
(LFA-1) antagonist indicated for the treatment of the signs and
symptoms of dry eye disease.
About
SIMBRINZA®
SIMBRINZA® is a fixed combination of a
carbonic anhydrase inhibitor and an alpha-2 adrenergic receptor
agonist indicated for the reduction of intraocular pressure (IOP)
in adult patients with open-angle glaucoma or ocular hypertension
for whom monotherapy provides insufficient IOP reduction AND when
the use of SIMBRINZA® is considered appropriate.
Each of these two components decreases elevated IOP. Elevated IOP
is a major risk factor in the pathogenesis of optic nerve damage,
glaucoma, and visual loss.
About Novartis Pharmaceuticals
Canada
Novartis Pharmaceuticals Canada Inc., a leader in the healthcare
field, is committed to the discovery, development and marketing of
innovative products to improve the well-being of all Canadians.
Over the last five years, the company's average annual research and
development investment in Canada
was $47 million. Located in
Dorval, Quebec, Novartis
Pharmaceuticals Canada Inc. employs approximately 1,000 people in
Canada and is an affiliate of
Novartis AG, which provides innovative healthcare solutions that
address the evolving needs of patients and societies. The company
prides itself on its commitment to diversity and to nurturing an
inclusive and inspiring environment. The company is recognized as a
Great Place to Work®, ranked among the Top 50 Best
Workplaces™ in the country and is proudly named on the 2021 Best
Workplaces™ for Women in Canada
and Best Workplace™ for Mental Wellness lists. For further
information, please consult www.novartis.ca.
XIIDRA and SIMBRINZA are
registered trademarks of Novartis AG
About Valeo Pharma
About Valeo Pharma Valeo Pharma is a pharmaceutical company
dedicated to the commercialization of innovative prescription
products in Canada with a focus on
Respirology/Allergy, Ophthalmology and Specialty Products.
Headquartered in Kirkland, Quebec,
Valeo Pharma has the full capability and complete infrastructure to
register and properly manage its growing product portfolio through
all stages of commercialization. For more information, please visit
www.valeopharma.com and follow us on LinkedIn and Twitter.
Forward Looking
Statements
This press release contains forward-looking statements about
Valeo's objectives, strategies and businesses that involve risks
and uncertainties. These statements are "forward-looking" because
they are based on our current expectations about the markets we
operate in and on various estimates and assumptions. Actual events
or results may differ materially from those anticipated in these
forward-looking statements if known or unknown risks affect our
business, or if our estimates or assumptions turn out to be
inaccurate.
SOURCE Valeo Pharma Inc.