Devonian Announces that its Subsidiary, Altius, Launches Authorized Generic of Dexlansoprazole (Dexilant) in Canada

Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXV: GSD; OTCQB: DVHGF), a clinical stage botanical pharmaceutical corporation, focused on developing a unique portfolio of botanical pharmaceutical and cosmeceutical products, is pleased to announce that its wholly-owned subsidiary, Altius Healthcare Inc. (“Altius”), has launched the first authorized generic of dexlansoprazole (Dexilant) in Canada to treat symptoms of gastroesophageal reflux disease (GERD).

Dexlansoprazole belongs to a class of drugs called proton pump inhibitors. It comes as a capsule, and it is available in two strengths: 30 milligrams (“mg”) and 60 mg. Dexlansoprazole is approved for use in adults and in children ages 12 years and older.

“This represents a significant addition to the Altius product portfolio. We expect this product to have an important impact in strengthening our presence in the Canadian prescription drug market and should substantially increase our sales,” said Pierre Montanaro, President of Altius.

“This latest contribution from Altius is a critical piece of Devonian’s strategy and the launch of this exciting product will be instrumental in our ability to fuel our botanical drug research to bring important medicines for large, underserved diseases,” said Luc Grégoire, President and Chief Executive of the Corporation.

Altius’ authorized generic dexlansoprazole is now available in pharmacies for patients across Canada.

About Devonian

Devonian is a late-stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription botanical drugs from plant materials and algae for the treatment of inflammatory-autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian’s focus is further supported by a U.S. FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines.

Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian also owns a commercialization subsidiary, Altius Healthcare Inc., focused on selling prescription pharmaceutical products in Canada, under license from brand name pharmaceutical companies.