Valeo Pharma's Onstryv® Receives Positive Recommendation for Public Reimbursement in Quebec Français
MONTREAL, Feb. 6, 2020 /CNW Telbec/ - Valeo Pharma Inc. (CSE: VPH) ("Valeo" or the "Company"), a Canadian specialty pharmaceutical company, announced today that it has received notice of a positive recommendation by Quebec's Institut national d'excellence en santé et en services sociaux ("INESSS") to the Health Minister for the inclusion of Onstryv® on the list of medications covered by the Régie de l'assurance maladie du Québec (RAMQ).
"We welcome the INESSS recommendation and see it as very positive news for patients suffering from Parkinson's Disease in Quebec", said Steve Saviuk, Valeo's President and CEO. "We're proud to play a role in improving the quality of life of patients across Canada. We look forward to the next steps and will continue to work diligently with the respective authorities across Canada to ensure that any patient who may benefit from taking Onstryv® can have access to this innovative treatment".
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 one of 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 two (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 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 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.
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]
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