- HespercoTM capsules can be taken to support immune system
- Valeo Pharma enters into agreement with Ingenew Pharma Inc.
MONTREAL, Aug. 24, 2020 /CNW Telbec/ - Valeo Pharma Inc. (CSE: VPH) (FSE: VP2) ("Valeo" or the "Company"), a Canadian specialty pharmaceutical company, announced today that it has filed for a Natural Product Licence with Health Canada for its unique bioflavonoid formulation, HespercoTM. HespercoTM capsules contain a powerful antioxidant that can be taken for immune system support.
In April 2020, Valeo entered into a collaboration and licensing agreement with Ingenew Pharma Inc. ("Ingenew") for the development, manufacture and commercialization of HespercoTM. Ingenew is responsible for providing clinical and scientific data to support the market positioning, commercial and communication campaigns for HespercoTM.
"Pending Health Canada's approval, we are poised to proceed with the commercialization of HespercoTM capsules", said Steve Saviuk, President and CEO. " Ingenew's ongoing expansion of scientific data as well as the development of new clinical data will provide further evidence of Hesperco'sTM effectiveness in providing support for the immune system"
Commenting on its partnership with Valeo for HespercoTM, Pierre Laurin, President and CEO of Ingenew, said: "There is a strong scientific and medical rationale for the use of HespercoTM capsules to support the immune system and potentially fight off symptoms associated with coronaviruses such as the one that causes COVID-19. Thousands of compounds have been evaluated since the start of the pandemic and the active compound in HespercoTM capsules has been repeatedly reported to be one of the best candidate to interfere with the mechanisms SARS-CoV-2 uses to infect our cells. Furthermore,the modulation, by active compound in HespercoTM, of multiple inflammatory mediators has long been recognized in the scientific litterature and it may play an important role in controlling potentiallythe exuberant inflammatory response or cytokine storm observed in severely affected patients. Our scientists' review and analysis of the extensive amount of data published which support the potential benefits of HespercoTM in COVID-19 has provided the basis for the development of HespercoTM clinical strategy and program".
About Ingenew Pharmaceuticals Inc.
Ingenew Pharma is a biopharmaceutical company focused on addressing unmet medical needs and serving patients and families affected by serious and debilitating illness. Its primary therapeutic areas of interest include oncology, neurology, urology and dermatology. Ingenew's current research and development efforts are evaluating proprietary preparations and delivery systems designed to improve the clinical efficacy and reduce toxicity and side effects associated with standard of care. At Ingenew Pharma, we leverage the extensive and successful track record of our scientists and apply adaptive-creative research & development principles to advance tangible and affordable medical solutions, Hesperco™ being a good example. Hesperco™ is a trade mark owned by Ingenew Pharma and used by Valeo Pharma under a license agreement. ( www.ingenewpharma.com)
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 and Hospital Specialty Products. Headquartered in Kirkland, Quebec Valeo Pharma has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter.
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 unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.
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SOURCE Valeo Pharma inc.
For further information: Valeo Pharma, Steve Saviuk, President and CEO, 514 693-8830, [email protected], Or; Frederic Dumais, Director Communications and Investor Relations, 514-782-8803, [email protected]