- 700,000 Canadians suffering from severe allergies
- Canadian epinephrine auto-injector market exceeds
$80M annually
- ALLERJECT peak sales potential expected to exceed
$25M annually
MONTREAL, Aug. 2, 2022
/CNW Telbec/ - Valeo Pharma Inc. (TSX: VPH) (OTCQB: VPHIF)
(FSE: VP2) ("Valeo" or the "Company"), a growing
Canadian pharmaceutical company, announced today that it has
entered into a License, Supply, and Commercialization agreement
with Kaléo Inc. for the Canadian rights to
ALLERJECT, (epinephrine injection, USP) auto-injector for the
treatment of serious allergic reactions.
Under the Agreement, Valeo will be responsible for all
commercial and medical activities for ALLERJECT in Canada for an initial 10 years period.
"We are pleased to be adding ALLERJECT to our expanding
portfolio of innovative drug products. With the Canadian market for
epinephrine auto-injectors exceeding $80
million per year, we believe that ALLERJECT's peak sales
potential exceeds $25 million
annually representing an important factor in our revenue growth",
said Steve Saviuk, CEO. "We expect
ALLERJECT to start contributing operating margins in Q4-22".
"Patients with life threatening allergies across Canada deserve access to this innovative and
potentially lifesaving product," said Kaléo, President and CEO,
Ronald Gunn. "Valeo Pharma's sales
force, relationships with the healthcare community, and commitment
to patients make them the ideal partner for ALLERJECT."
Commenting on this commercial agreement with Kaléo, Frederic Fasano, Valeo's President and COO said,
"We look forward to ensuring patient access to this unique
epinephrine auto-injector technology for the emergency treatment of
severe anaphylactic reactions which are rare but potentially
life-threatening events. ALLERJECT is a high quality / high
compliance product with user-friendly features, including voice
instructions and a retractable needle, ensuring proper use of the
device. Its addition to our product portfolio supports Valeo's
growth and reinforce our position as a leading Canadian
pharmaceutical company".
Over 700,000 people are estimated to be at risk for anaphylaxis
due to food or insect stings alone at least once in their lifetime.
A potentially life-threatening allergic reaction can happen
anywhere – and can happen quickly, reinforcing the importance for
patients, families and caregivers to have timely and reliable
access to an epinephrine auto-injector.
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 ALLERJECT®
ALLERJECT® is indicated for the emergency treatment of serious
allergic reactions (anaphylaxis). ALLERJECT® is a portable
epinephrine auto-injector with an innovative voice instruction
system that helps guide patients and caregivers step-by-step
through the injection process and has a retractable needle system.
ALLERJECT® is available in a 0.15 mg dose (for patients who weigh
15 to 30 kg (33 lbs to 66 lbs)) and a 0.3 mg dose (for patients who
weigh 30 kg or more (66 lbs or more)). The product is
commercialized under the Auvi-Q® brand name in the United States.
About Kaléo
Kaléo is a fully integrated pharmaceutical company dedicated to
inventing, manufacturing and commercializing life-transforming
products for certain serious and life-threatening medical
conditions. Kaléo's innovative auto-injection technologies are
protected by an extensive intellectual property portfolio of more
than 200 issued patents as well as being the first to meet the
U.S. Food and Drug Administration (FDA) draft guidance
standard for 99.999% device reliability. Kaléo is headquartered in
Richmond, Virginia in the United States. For more information, visit
www.kaleo.com.
About Valeo Pharma
Valeo Pharma is a pharmaceutical company dedicated to the
commercialization of innovative prescription products in
Canada with a focus on
Respiratory/Allergy, Ophthalmology and other 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.