viewAequus Pharmaceuticals Inc.

Aequus Pharmaceuticals files new medical device licenses for Evolve dry eye products in Canada

Aequus and UK-based Medicom Healthcare have a license agreement granting Aequus exclusive rights to commercialize the Evolve product line in Canada

The two Evolve products were submitted for approval with Health Canada as Class II medical devices

Aequus Pharmaceuticals Inc (CEV:AQS) (OTCQB:AQSZF) announced Monday that it has submitted new medical device license (MDL) applications to Health Canada for two Evolve dry eye products. 

Aequus and UK-based Medicom Healthcare entered into a license agreement in March 2019, granting Aequus exclusive rights to commercialize the Evolve product line in Canada.

“Today marks an important milestone for Aequus, as these are our first licensed products we submit to Health Canada as an organization, versus partnered products we support with promotional efforts only,” said Aequus CEO Doug Janzen in a statement.

READ: Aequus Pharmaceuticals posts second-highest quarterly revenue as demand grows for opthalmic and transplant products

“The two products included in this initial multi-product submission for Evolve were selected to provide a range of solutions for patients with varying intensities of dry eye. We are looking forward to bringing the Evolve dry eye line into Canada, which reinforces our responsiveness to physician and patient feedback on the need for more preservative-free options. With this launch, we will further enrich our offering and commitment in the eye care space in Canada,” Janzen added. 

Grant Larsen, chief commercial officer at Aequus, noted that the Evolve products have been proven effective in other markets including the UK and Europe. 

“We are ready to launch and look forward to bringing these products to Canada, ” he added. 

The two Evolve products were submitted for approval with Health Canada as Class II medical devices. According to the agency, the target review time for a Class II MDL application is typically 20 days. 

Aequus said it is moving ahead with plans in accordance with the 20-day timeline but acknowledged that review timing may be affected by factors out of its control such as backlogs caused by the coronavirus (COVID-19) pandemic.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

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Market: TSX-V
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