QUÉBEC CITY, March 27, 2019 /CNW Telbec/ - Endoceutics Inc., Université Laval, and CHU de Québec-Université Laval (CHU de Québec-UL) are pleased to announce that they have reached an agreement to resolve all their disputes with respect to economic benefits deriving from research. Université Laval and CHU de Québec-UL will share in the anticipated economic benefits associated with Intrarosa™.
The agreement brings to an end several years of litigation in the wake of various arbitration decisions and court rulings. The terms and conditions of the agreement remain confidential, but it does provide for lump sum payments from Endoceutics, annual fees to be paid out of future Intrarosa royalties, and equity stake in Endoceutics.
"The agreement reflects our respective needs very well," said Endoceutics President and CEO Dennis Turpin. "It's a win-win result, with everyone contributing to the company's business plan to market Intrarosa on a global scale. Intrarosa is a unique product," he added, "and deserves to have the support of all stakeholders as it goes to market. We're enthusiastic about continuing Dr. Fernand Labrie's work and grateful to everyone who worked on this strategic agreement."
Université Laval Rector Sophie D'Amours was also quick to express her satisfaction with the agreement. "Now that we've put these issues behind us," she said, "we can concentrate on the social and economic benefits of this important discovery. Université Laval health research is among the best in the country, particularly in the field of women's health. That research will pave the way for potential future partnerships with Endoceutics."
"We're glad the dispute has been settled," said Martin Beaumont, CEO of CHU de Québec-UL. "The agreement shows that collaboration is a deeply held value within our organization. We wish Endoceutics all the best in its future endeavours," he added.
Intrarosa is manufactured in Québec by Endoceutics. Strategic alliances are being made with select partners to bring it to markets worldwide.
Intrarosa is approved for sale in the United States and the European Union. Distribution and sales rights have so far been awarded for major markets covering the United States, Europe, and Asia.
Intrarosa was developed by Endoceutics to treat problems arising from low levels of sex hormones in postmenopausal woman, particularly vulvovaginal atrophy with its associated symptoms including painful intercourse (dyspareunia). Intrarosa is administered intravaginally using an applicator. Its active ingredient is prasterone (dehydroepiandrosterone or DHEA), a compound without intrinsic hormonal activity, that is converted into sex hormones (androgens and estrogens) inside the cells that line the vagina and is only active locally. Intrarosa was approved by the US FDA in November 2016 for treatment of dyspareunia and by the European Medicines Agency (EMA) in January 2018 for vulvovaginal atrophy. It has not yet been approved in Canada, but a submission for approval has been filed.
Endoceutics is active in women's health and hormone-sensitive cancer prevention and treatment. The company employs 110 people and disposes of drug manufacturing facilities and equipment, bioanalytical laboratories, and all the necessary expertise to conduct clinical trials, patent its products, and commercialize them. The products in its current portfolio are at varying stages of development. Endoceutics is dedicated to giving women a better quality of life. Find out more about Endoceutics at www.endoceutics.com.
About Université Laval
The search for new paths and the tireless pursuit of excellence have made Université Laval one of Canada's top research universities—its $356 million in research income putting it in 8th place nationwide in 2018. By sharing its knowledge and leveraging its expertise, the university has become a driver of sustainable progress in the local and global communities. To date it has left its mark on over 300,000 alumni, all of them doing their part to advance the societies they live in. www.ulaval.ca
About CHU de Québec-Université Laval
CHU de Québec-Université Laval is the largest university-affiliated hospital centre in Québec and one of the largest in Canada, encompassing member institutions CHUL, Hôtel-Dieu de Québec, Hôpital de l'Enfant-Jésus, Hôpital Saint-Sacrement, and Hôpital Saint-François d'Assise. It provides general and specialized care as well as being Eastern Québec's main dispenser of subspecialized care, serving a catchment area population of close to two million. CHU's future focus and close ties with Université Laval are part of a mission that encompasses education, research—in which it excels in numerous specialized fields—and the assessment of healthcare technologies and treatment methods. It is staffed by over 12,500 employees along with 1,500 doctors, dentists, and pharmacists, 343 regular and associate researchers, 169 partner researchers, 850 graduate students, and 425 volunteers. www.chudequebec.ca
For further information: Audrey Dumoulin, Communications Officer, Endoceutics, T 418-653-0033, ext. 213, [email protected]; Andrée-Anne Stewart, Media Relations Officer, Communications Department, Université Laval, T 418-656-3952, C 418-254-3141, [email protected]; Geneviève Dupuis, Assistant to the President and CEO - Media Relations and Special Projects, CHU de Québec - UL, T 418-525-4387, [email protected]