Aequus Receives Approval for New ‘Evolve - Daily Intensive’ Lubricating Eye Drops in Canada
Aequus Announces Approval of Fourth Revenue Generating Product
VANCOUVER, British Columbia, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”), a specialty pharmaceutical company announced today
that together with its partner, Medicom Healthcare Ltd. (“Medicom”), has been issued a new Medical Device License for the second of three product submissions made for the Evolve preservative
free dry eye product line. The new Medical Device License was issued for Evolve Daily Intensive – an advanced formulation of 0.2% Hyaluronate, free of preservatives and phosphates, and made
available in a multi-dose bottle for ease of use for all patients. The formulation contains 350 drops that can be dispensed with gentle squeezing – an important feature for chronic users and many
dry eye patients.
“Evolve Daily Intensive is the second lubricating eye drop being offered by Aequus as part of a full line of products made exclusive to Eye Care Professionals. As patient compliance and improved patient outcomes are prioritized as part of this range, Eye Care professionals can now offer Evolve to deliver exceptional patient experience while protecting the long term health of every patient's eyes,” said Grant Larsen, Chief Commercial Officer at Aequus.
“This is an exciting approval for Aequus, as the Evolve range expands, providing much needed benefits to patients suffering from Dry Eye Disease,” said Aequus CEO, Doug Janzen. “These Hyaluronate drops in particular are seen as the workhorse of the entire line, and are currently the fastest growing Hyaluronate drops in the UK. The full range is expected to generate $10M a year in Canadian sales at maturity.”
Aequus is advancing launch activities the newly approved Evolve products, while a third drop in the Evolve range is currently under review with Health Canada.
ABOUT DRY EYE DISEASE
Dry eye disease (DED) is a common disorder of the tear film that leads to ocular surface damage over time. Previous research has shown DED reduces health and vision related quality of life and that it carries a considerable economic burden of disease. DED affects approximately 6.3 million Canadians, representing approximately 21% of the population.1 Home confinement, e-learning and working from home due to the COVID-19 pandemic means spending more time looking at screens, which has a significant impact on eye health. A combination of reduced frequency and intensity of blinking during screen time increases the risk of inducing or exacerbating dry eye disease.2
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