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QUEBEC CITY, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Devonian Health Group Inc. ("Devonian" or the "Corporation") (TSX VENTURE:GSD), a clinical stage botanical pharmaceutical corporation focused on developing a unique portfolio of botanical prescription drugs and derma-cosmeceutical products, today announced that it has signed its first exclusive marketing and distribution agreement with Altius Healthcare Inc. (‘‘Altius’’) to distribute its proprietary Purgenesis™ anti-aging treatment in Canada.
The exclusive distribution agreement includes upfront payment for each treatment as well as up to 25% royalties based on sales. Altius expects to launch the product in Q4 2017. The product, which was recently recognized by the Canadian Dermatology Association through its Skin Health Program™, will be made exclusively available through certified Canadian dermatologists.
"This partnership marks an important milestone for Devonian. After almost fifteen years invested in research and development, this is our first clinically-proven derma-cosmeceutical product to reach the commercialization stage, Altius’ expertise in pharmaceutical marketing and its founders’ long standing relationship with physicians support our vision of building a strong franchise with healthcare professionals", said Dr Andre P. Boulet, President and Chief Executive Officer of Devonian.
"We are proud to include Devonian as one of our partners fuelling our product pipeline in Canada. Purgenesis™ anti-aging treatment was developed under pharmaceutical standards, therefore, supported by data resulting from clinical studies. Thus, Purgenesis™ anti-aging treatment is an ideal complement to our Dermatology portfolio", stated Sybil Dahan, President of Altius."
About Purgenesis™ anti-aging treatment
Purgenesis™ anti-aging treatment has three components: a day cream, a night cream and an eye cream. These creams contain R-Spinasome® complex, an active structure with anti-oxydant properties. The structure of this complex is critical to its function as an anti-oxidant, enabling it to capture and dissipate noxious energy generated by Reactive Oxygen Species (ROS), returning the complex to a state where it is ready to undergo new activation cycles. It is this dynamism and capacity to regenerate that provides R-Spinasome® complex with unprecedented, long-lasting anti-oxidant activity. A clinical study involving 72 subjects (aged 35-72years) was conducted to evaluate the performance of Purgenesis™ Anti-aging product line compared with two other leading prestige brands over a 28-day period of use. The results indicate that Purgenesis™ anti-aging line is significantly superior than leading prestige brands in terms of its anti-wrinkle, firmness and hydration effects. Purgenesis™ anti-aging treatment is patent-pending worldwide with the exception of Japan where a patent was issued (#JP 5952261). The product has been accredited by the Canadian Dermatology Association under their Skin Health Program™.
About Altius Healthcare Inc.
As a uniquely Canadian pharmaceutical company, Altius Healthcare’s mission is to provide healthcare products designed to help people of all ages live healthier lives. Its team's diverse experience draws from nearly 40 years in producing, importing, marketing and distributing branded and generic medicines, as well as medical devices and natural health products. They are Canadian and understand Canada's pharmaceutical industry. They know how to get things done in this highly regulated marketplace. They can bring products to the market and assure they succeed here. With a commitment to helping all Canadians live healthier lives, their priority is to introduce safe new healthcare products to the Canadian marketplace. They achieve this through strategic partnerships that link proven medicines, leading-edge technologies, and their ability to serve the needs of patients and healthcare professionals.
For more information about Altius Healthcare Inc., visit www.altiushealthcare.ca
About Devonian
Devonian is a late stage botanical pharmaceutical corporation with novel therapeutic approaches targeting unmet medical needs. Devonian's core strategy is to develop prescription botanical drugs. This strategy is supported by US-FDA set of regulatory guidelines favouring a more efficient drug development pathway versus traditional prescription medicines. Devonian is based on a broad-based platform originating from over ten years of research. This platform provides a unique process of extraction, purification, stabilization and conditioning of a molecular complex responsible for the photosynthetic process in plants and algae: The Supra Molecular Complex Extraction and Stabilisation Technology (SUPREX™). The "Thykamine™" is the first product issued from this platform. The potent anti-inflammatory and anti-oxidative activities of "Thykamine™" have been demonstrated in several pre-clinical experiments as well as in a Phase 2a "proof of concept" clinical study in patients with mild-to-moderate distal ulcerative colitis. The product is now moving into large phase 2 clinical trials in two therapeutic areas: Ulcerative Colitis and Atopic Dermatitis. While the development of prescription botanical drugs is its core business, Devonian is also involved in the development of high value derma-cosmeceutical products as part of a secondary strategy to generate short-term revenues and optimize manufacturing efficiency.
For more information about Devonian Health Group Inc., visit www.groupedevonian.com.
Forward Looking Statements
This press release contains forward-looking statements about Devonian's objectives, strategies and businesses that involve risks and uncertainties. These statements are "forward-looking" because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. Such risks and assumptions include, but are not limited to, Devonian's ability to develop, manufacture, and successfully commercialize value-added pharmaceutical and dermo-cosmeceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Devonian to take advantage of business opportunities in the pharmaceutical and dermo-cosmeceutical industries, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations in Devonian's prospectus dated April 21st, 2017 under the heading "Risk Factors" related to Devonian’s business. As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Dr. André P. Boulet, PhD
President and Chief Executive Officer
Devonian Health Group Inc.
Telephone: (514) 248-7509
e-mail: apboulet@groupedevonian.com