- First new oral treatment for Parkinson's Disease approved in over a decade
- Parkinson's Disease affects a growing number of Canadians with over 100,000 currently afflicted
- Total Canadian market for Parkinson's Disease drugs exceeds $100 million per year
MONTREAL, July 10, 2019 /CNW Telbec/ - Valeo Pharma Inc. (CSE: VPH) ("Valeo"), a Canadian specialty pharmaceutical company, today announced the Canadian launch of Onstryv® (safinamide tablets) for the treatment of patients suffering from Parkinson's Disease. Valeo has the exclusive rights to commercialize Onstryv® in Canada under a license agreement signed with Zambon S.p.A.
Valeo previously announced the approval of Onstryv® by Health Canada, January 15, 2019, as an add-on therapy to a regimen that includes levodopa for the treatment of the signs and symptoms of idiopathic Parkinson's Disease in patients experiencing "off" episodes.
Onstryvâ is a prescription medication that can now be obtained at pharmacies across Canada and is available in 50mg and 100mg tablets. Valeo's national sales team has launched a physician awareness and information campaign which is being supported by marketing and social media activities.
"The number of Canadians afflicted with Parkinson's Disease is expected to grow by more than 50% over the next decade as the Canadian population ages" said Steve Saviuk, Chief Executive Officer of Valeo. "Onstryv® is the first new oral treatment for Parkinson's Disease to be approved in Canada in well over a decade. Many patients experience progressive symptom difficulties with currently available treatments and we are proud to bring a new option to address this growing need for Canadian patients. Valeo is committed to building and supporting relationships with healthcare professionals, patients and other stakeholders to build awareness and ensure access to this new treatment for Parkinson's Disease."
Roberto Tascione, CEO of Zambon said "Since 1906 Zambon is committed to provide innovative medicines for patients and doctors and this launch is another significant step forward to fulfill our vision: Innovating Cure & Care to make patients' lives better.
Right now, with this important milestone, Safinamide has been launched in 14 European Union countries, Switzerland, U.S.A, Australia and Canada and has recently been approved in Brazil, and Colombia."
Parkinson's Disease is a progressive neurological disease involving the loss of dopamine-producing neurons in the brain. While tremors are the best known symptom, Parkinson's Disease also causes other symptoms including slowed movement, rigid muscles, impaired posture and balance, speech and writing difficulties. On a per capita basis, Canada has amongst the highest incidences of Parkinson's Disease in the world and the number of patients is expected to grow significantly over the next thirty years as the median population age increases.
About Onstryv® (safinamide)
Safinamide, known as Onstryv® in Canada and Xadago® in the rest of the world, is a new chemical entity with a unique mode of action including selective and reversible MAO-B-inhibition. Clinical trials have established its efficacy in controlling motor symptoms and motor complications in the short term, maintaining this effect over 2 years. Results from 24 month double-blind controlled studies suggest that safinamide shows statistically significant effects on motor fluctuations (ON/OFF time) without increasing the risk of developing troublesome dyskinesia. Onstryv® is a once-daily dose and has no diet restrictions due to its high MAO-B/MAO-A selectivity. Zambon acquired rights from Newron Pharmaceuticals (www.newron.com) to develop and commercialize Xadago® globally, excluding Japan and other key Asian territories where Meiji Seika Pharma has the rights to develop and commercialize safinamide. The rights to commercialize Xadago® in the USA have been granted to US WorldMeds, by Zambon.
About Valeo Pharma
Valeo Pharma is a specialty pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada. With a focus on Neurodegenerative Diseases, Oncology, Women's Health and Hospital Specialty Products, Valeo Pharma has a growing portfolio of innovative products and the full infrastructure to properly manage these products through all stages of commercialization. Headquartered in Kirkland, Quebec, Valeo Pharma has all capabilities internally to register and market health care solutions for Canadian patients. For more information, please visit www.valeopharma.com.
Zambon is a multinational pharmaceutical and fine-chemical company that focuses on innovation and development with the aim to improve the quality of people's health and patients' lives. Based on a valuable heritage but strongly focused on the future, its goal is to improve people's health through the development of innovative and quality medicines. Zambon products are commercialized in 86 countries. The company has 20 subsidiaries in three different Continents – Europe, America and Asia – and owns manufacturing units in Italy, Switzerland, France, China and Brazil. The company today has a strong focus on the treatment of rare diseases such as Cystic Fibrosis and specialties, such as Parkinson's disease, and it's well-established in 3 therapeutic areas: respiratory, pain and women's care. Zambon was established in 1906 in Italy and today counts around 2,700 employees all over the world. For details on Zambon please visit www.zambon.com
About Newron Pharmaceuticals
Newron (SIX: NWRN) is a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system. The company is headquartered in Bresso near Milan, Italy. Xadago® (safinamide) has received marketing authorization for the treatment of Parkinson's disease in the European Union, Switzerland, the US, Australia, Canada, Brazil, and Colombia and is commercialized by Newron's partner Zambon. US WorldMeds holds the commercialization rights in the USA. Meiji Seika has the rights to develop and commercialize the compound in Japan and other key Asian territories. In addition to Xadago® for Parkinson's disease, Newron has a strong pipeline of promising treatments for rare disease patients at various stages of clinical development, including sarizotan for patients with Rett syndrome and ralfinamide for patients with specific rare pain indications. Newron is also developing Evenamide as the potential first add-on therapy for the treatment of patients with positive symptoms of schizophrenia. For more information, please visit: www.newron.com
Forward Looking Statements
This press release contains forward-looking statements about Valeo'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 uinknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.
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SOURCE Valeo Pharma inc.
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