AQS Aequus Pharmaceuticals Inc

Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”) is pleased to announce the signing of an exclusive distribution agreement with SCOPE Ophthalmics. (“SCOPE”), an Irish based eyecare company with a focus on preservative free therapies in ophthalmology. Under the distribution agreement, Aequus will receive the Canadian commercial rights to 10 unique products of SCOPE’s portfolio of over-the-counter ophthalmology products including the OPTASE® range of preservative free dry eye products.

“We are excited to add SCOPE’s unique products and brands to our existing portfolio of high-quality dry eye products. These products bring many synergies and advantages to both our Canadian Eye Care professionals and their patients,” said Grant Larsen, CCO of Aequus. “We look forward to sourcing and continued expansion of high-quality treatment options that includes devices, therapies and digital solutions that support Canadian Eye Care Professionals and their patients.” Doug Janzen, CEO and Chairman of Aequus, said, “The addition of this portfolio of ophthalmology products will give Aequus one of the largest ranges of preservative free therapies in Canada and further demonstrates our commitment to eye care professionals in Canada.”

“Through the signature of this collaboration with Aequus, SCOPE is expanding its footprint in North America for Optase and our other eyecare brands. Canada is clearly a country of strategic importance for SCOPE where our innovative eyecare products, together with the strong relationships of Aequus amongst Eye Care Professionals as well as its overall credibility in the market, will certainly contribute to the success of both companies,” said Tom Freyne, CEO at SCOPE.

Under the proposed terms of the agreement, SCOPE will supply the products while Aequus will be responsible for Canadian authorization, marketing, distribution, and sales activities. SCOPE has a broad portfolio and pipeline of ophthalmology products that has had success in Europe and recently launched in the US. Aequus will have first right of refusal on any new products SCOPE wishes to commercialize in Canada. Aequus anticipates launching select products in SCOPE’s portfolio later this year.

ABOUT AEQUUS PHARMACEUTICALS INC.

Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus has grown its sales and marketing efforts to include several commercial products in ophthalmology and transplant. 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.

ABOUT SCOPE OPHTHALMICS

SCOPE is a family own business from Ireland offering a fantastic range of eyecare products to help tackle eye conditions such as Dry Eyes, Blepharitis, Meibomian Gland Dysfunction (MGD) and Age-Related Macular Degeneration (AMD). Founded in 2009, SCOPE is a corporation of 140 people today with headquarters in Dublin and direct subsidiaries in London and New York, please visit www.scopeeyecare.com.

Forward-Looking Statements:

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 include but are not limited to statements relating to: successful launch of the SCOPE products, the implementation of our business model and strategic plans; revenue growth trends into the future; expected timing for product launch; the Company’s expected revenues. 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 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 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 herein and under the heading “Risk Factors” in the Company’s Annual Information Form dated June 30, 2022, 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.

Aequus Contact Information:Aequus Investor Relations Email: investors@aequuspharma.caPhone: 604-336-7906