Aequus Licenses Rights to Cannabinoid Transdermal Patch to Treat Neurological Disorders

VANCOUVER, BC--(Marketwired - March 02, 2017) - Aequus Pharmaceuticals Inc. (TSX VENTURE: AQS) (OTCQB: AQSZF) ("Aequus" or the "Company") announced today that through a previously announced Research Service Contract with Transdermal Research Pharma Lab ("TRPL") it has entered into a binding term sheet (the "Term Sheet") to acquire an exclusive world-wide license to a transdermal patch containing cannabinoids, for the use in epilepsy, Multiple Sclerosis (MS), and certain other neurological disorders.

Aequus has been focused on expanding treatment options for neurological disorders through its current pipeline of development stage and in-licensed products. Aequus recognizes there has been an increased acceptance around the use of cannabinoids for epilepsy and MS in particular, however, uptake by the medical community has been limited by a need for a product that provides precise, controlled dose delivery. The majority of clinical studies performed to date have used orally ingested or inhaled forms of delivery, and further to the challenges with consistency of dosing, these routes of delivery are commonly associated with gastrointestinal side effects such as diarrhea that would be expected to be significantly reduced with a transdermal form.

"Since Aequus' inception our development efforts have largely been focused on differentiated prescription products for the treatment of certain neurological disorders," said Doug Janzen, Chairman and CEO of Aequus. "This announcement broadens our pipeline and is a perfect complement to our growing epilepsy franchise that consists of a long-acting transdermal patch for clobazam currently in development and two recently in-licensed U.S. Food and Drug Association approved slow-release oral anti-epileptics, topiramate extended-release and oxcarbazepine extended-release for the Canadian market."

"We are excited about combining the insights from physicians with our existing drug delivery, clinical development and business development skills to pursue cannabinoid products that meet the needs of physicians and patients suffering from neurological disorders," said Anne Stevens, COO and Director of Aequus.

TRPL and its affiliates who are expected to develop the formulation for the cannabinoid patch also developed the initial formulations for Aequus' three pipeline programs which are now advancing through human proof of concept studies.

In consideration for commercial rights, Aequus will pay royalties on future product revenues. There are no other upfront or milestone payment obligations by Aequus associated with this program.