Medexus Reports Health Quality Ontario Recommends Gliolan® for Public Reimbursement
September 12 2019 - 8:30AM
Medexus Pharmaceuticals Inc. (the “Company” or
“Medexus”) (TSXV: MDP, OTCQB: PDDPF) today announced that
Health Quality Ontario, under the guidance of the Ontario Health
Technology Advisory Committee, has recommended public funding
of Gliolan® (5-aminolevulinic acid hydrochloride) for guiding
maximal surgical resection of high-grade gliomas in adults,
conditional on Health Canada approval. Gliolan® assists
neurosurgeons to better visualize and more completely remove
malignant brain tumors (gliomas) by causing them to become
fluorescent and glow during surgery.
Health Canada previously granted Medexus
authorization to distribute Gliolan® in Canada under the Special
Access Program, which provides healthcare practitioners with access
to non-marketed drugs to treat patients with serious or
life-threatening conditions when conventional therapies have
failed, are unsuitable, or unavailable. The Company has long-term
exclusive rights to market and distribute Gliolan® in
Canada.
Ken d’Entremont, Chief Executive Officer of
Medexus, commented, “The response to Gliolan® from the medical
community has been extremely positive, as evidenced by strong
market uptake, even prior to full registration. The recommendation
for public reimbursement from Health Quality Ontario further
validates our belief that Gliolan® not only improves outcomes, but
is a cost effective solution for high level glioblastoma patients.
Furthermore, we expect broader distribution of Gliolan® in Canada,
as a fully registered product, which we believe has the potential
to improve survival and represents a sizable market opportunity. We
have now held a pre-registration meeting with Health Canada for the
Gliolan® application. We plan to file for registration of Gliolan®
with Health Canada in 2019 and anticipate receiving full
registration within 6 to 18 months following application.”
About Medexus
Medexus is a leading specialty pharmaceutical
company with a strong North American commercial platform. The
Company’s vision is to provide the best healthcare products to
healthcare professionals and patients, through our core values of
Quality, Innovation, Customer Service and Teamwork. Medexus
is focused on the therapeutic areas of auto-immune disease and
pediatrics. The leading products are Rasuvo™ and Metoject®, a
unique formulation of methotrexate (auto-pen and pre-filled
syringe) designed to treat rheumatoid arthritis and other
auto-immune diseases; and Rupall™, an innovative allergy medication
with a unique mode of action.
For more information, please
contact:
Ken d’Entremont, Chief Executive OfficerMedexus
Pharmaceuticals Inc.Tel.: 905-676-0003E-mail:
ken.dentremont@medexus.com
Roland Boivin, Chief Financial OfficerMedexus
Pharmaceuticals Inc.Tel.: 514-762-2626 ext. 202E-mail:
roland.boivin@medexus.com
Investor Relations
(U.S.):Crescendo Communications, LLCTel:
+1-212-671-1020Email: mdp@crescendo-ir.com
Investor Relations
(Canada):Frank CandidoDirect Financial Strategies and
Communication Inc.Tel: 514-969-5530E-mail:
frank.candido@medexusinc.com
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the adequacy or accuracy of this release.
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contain forward-looking information within the meaning of
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believed that the assumptions are reasonable in the circumstances,
these risks and uncertainties give rise to the possibility that
actual results may differ materially from the expectations set out
in the forward-looking statements. Material risk factors include
those set out in the Company's most recent MD&A; future capital
requirements and dilution; intellectual property protection and
infringement risks; competition (including potential for generic
competition); reliance on key management personnel; the Company’s
ability to implement its business plan; the Company’s ability to
leverage its United States and Canadian infrastructure to promote
additional growth, including with respect to the infrastructure of
Medexus Inc. and Medac Pharma, Inc. and the potential benefits the
Company expects to derive therefrom;, regulatory approval by the
Canadian health authorities; product reimbursement by third party
payers; patent litigation or patent expiry; litigation risk; stock
price volatility; government regulation; and potential third party
claims. Given these risks, undue reliance should not be placed on
these forward-looking statements, which apply only as of the date
hereof. Other than as specifically required by law, the Company
undertakes no obligation to update any forward-looking statements
to reflect new information, subsequent or otherwise.
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