EDMONTON and TORONTO, Aug. 12, 2015 /CNW/ - SinoVeda Canada Inc. and Exzell Pharma Inc. today announced the signing of an exclusive license agreement to commercialize Effecti-Cal® in Canada, the U.S., Australia and New Zealand. The agreement includes upfront and milestone payments, as well as royalties on sales. The specific terms of the transaction were not disclosed.
Effecti-Cal® is approved by Health Canada as a Natural Health Product to support the development and maintenance of healthy bones and teeth. Effecti-Cal® is a source of highly soluble and absorbable calcium, magnesium, and zinc that can be taken with or without food. Effecti-Cal® is well tolerated and has fewer side effects. Gastrointestinal side effects such as constipation, gas, bloating, and abdominal pain are commonly caused by other calcium supplements, but not with Effecti-Cal®.
Dr. Yun Tam, President, Chief Scientific Officer, and Co-founder of SinoVeda Canada Inc. stated, "We are extremely pleased with this first commercial deal for Effecti-Cal®. The bone health marketplace is sorely lacking in products that have meaningful scientifically validated benefits, and we are pleased to be working with Exzell Pharma to make Effecti-Cal® available to consumers in these first markets."
Effecti-Cal® is a patented new form of multi-element calcium product for the maintenance of bone health and reducing the risk of developing osteoporosis. Effecti-Cal® is engineered to be more soluble in the intestine and provide more usable calcium per dose, compared to existing calcium products. Since zinc and magnesium are often depleted in patients with low calcium intake, Effecti-Cal® is supplemented with additional zinc and magnesium to maintain stable levels in the body.
Osteoporosis is a medical condition characterized by low bone density and deterioration of bone tissue. As the bones weaken over time, patients are at increased risk of bone fracture, its associated morbidities and mortality. Individuals at risk for osteoporosis include those that are sedentary, have low calcium intake, and the elderly, particularly post-menopausal women.
About SinoVeda Canada Inc.
SinoVeda Canada Inc. is a privately held Edmonton-based health science company that uses botanical sources to develop and commercialize nutritional food ingredients, pharmaceutical-grade consumer health products, and prescription medicines. SinoVeda's patented Pharmaceutical Platform Technology® (PPT) allows the company to isolate, quantify, and standardize the active, absorbable ingredients from botanical sources, enabling the production of unique multiple-active, multiple-target, and patentable products. To learn more, please visit www.sinoveda.com
About Exzell Pharma Inc.
Exzell Pharma Inc is a privately held, Markham, Ontario company that focuses on marketing products that treat gastrointestinal disorders and treatments with less gastrointestinal side effects for common disorders. Exzell Pharma currently markets Glutagest® for gluten intolerance and Aldesolve® for minimizing carcinogenic effects of alcohol, smoking and consumption of certain foods. To learn more, please visit www.exzell.com
SOURCE SinoVeda Canada Inc.
For further information: Please contact: Gordon Ngan, VP Business Development, P: (416) 818-7217, E: [email protected]