Valeo (EPA:VLOF) Pharma Inc. (TSX:VPH, OTCQB:VPHIF) said it has entered into a license, supply, and commercialization agreement with Kaleo Inc for the Canadian rights to ALLERJECT – an epinephrine auto-injector for the treatment of serious allergic reactions.
Kirkland, Quebec-based Valeo will be responsible for all commercial and medical activities for ALLERJECT in Canada for an initial period of 10 years.
"We are pleased to be adding ALLERJECT to our expanding portfolio of innovative drug products. With the Canadian market for epinephrine auto-injectors exceeding $80 million per year, we believe that ALLERJECT's peak sales potential exceeds $25 million annually, representing an important factor in our revenue growth", Steve Saviuk CEO of Valeo said in a statement. "We expect ALLERJECT to start contributing operating margins in Q4-22."
The deal is the company's second of the day, having earlier announced that it has entered into a commercialization and supply agreement with Novartis Pharmaceuticals Canada Inc for the Canadian commercialization of two innovative ophthalmic therapies.
READ: Valeo Pharma enters commercialization and supply agreement with Novartis Canada for two ophthalmic therapies
"Patients with life threatening allergies across Canada deserve access to this innovative and potentially lifesaving product," said Kaleo CEO Ronald Gunn. "Valeo Pharma's sales force, relationships with the healthcare community, and commitment to patients make them the ideal partner for ALLERJECT."
Frederic Fasano, Valeo's COO, said the company looks forward to ensuring patient access to this epinephrine auto-injector technology for the emergency treatment of severe anaphylactic reactions which are rare, but potentially life-threatening events.
“ALLERJECT is a high quality, high compliance product with user-friendly features, including voice instructions and a retractable needle, ensuring proper use of the device. Its addition to our product portfolio supports Valeo's growth and reinforce our position as a leading Canadian pharmaceutical company,” said Fasano.
Over 700,000 people are estimated to be at risk for anaphylaxis due to food or insect stings alone at least once in their lifetime. A potentially life-threatening allergic reaction can happen anywhere and can happen quickly, reinforcing the importance for patients, families and caregivers to have timely and reliable access to an epinephrine auto-injector.
ALLERJECT is available in a 0.15 mg dose (for patients who weigh 15 to 30 kg) and a 0.3 mg dose (for patients who weigh 30 kg or more). The product is commercialized under the Auvi-Q brand name in the United States.
Richmond, Virginia-based Kaleo is a fully integrated pharmaceutical company dedicated to inventing, manufacturing and commercializing life-transforming products for certain serious and life-threatening medical conditions.
Valeo Pharma is a pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on respiratory/allergy, ophthalmology and other specialty products.
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