TORONTO–(BUSINESS WIRE)–Acerus Pharmaceuticals Corporation (TSX:ASP, OTCQB: ASPCF) (“Acerus” or
the “Company”) today announced that it has reached a mutual agreement
with Innovus Pharmaceuticals, Inc. (OTCQB: INNV) (“Innovus Pharma”),
a California-based specialty pharmaceutical company, to terminate the
exclusive distributor and license agreement granting Acerus the rights
to commercialize UriVarx® in Canada.
“The termination of this license agreement with Innovus is consistent
with our renewed strategic focus on prescription products and men’s
health,” said Ed Gudaitis, President and Chief Executive Officer of
Acerus. “Acerus is pleased that we were able to work with Innovus Pharma
to find a solution that enabled us to exit the license agreement
immediately without penalties. This will allow us to focus our efforts
behind our core global prescription business driven by Natesto®.”
“Innovus Pharma is pleased to take over the product in Canada and
integrate it under our own sales and marketing platform to continue and
grow that already strong sales of the product and without any disruption
in the current sales”, said Dr. Bassam Damaj, President and Chief
Executive Officer of Innovus Pharma.
About Acerus
Acerus Pharmaceuticals Corporation is a Canadian-based specialty
pharmaceutical company focused on the commercialization and development
of innovative prescription products that improve patient experience,
with a primary focus in the field of men’s health. The Company
commercializes its products via its own salesforce in Canada, and
through a global network of licensed distributors in the U.S. and other
territories.
Acerus’ shares trade on TSX under the symbol ASP and on OTCQB under the
symbol ASPCF. For more information, visit www.aceruspharma.com
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and LinkedIn.
Notice regarding forward-looking statements
Information in this press release that is not current or historical
factual information may constitute forward-looking information within
the meaning of securities laws. Implicit in this information are
assumptions regarding our future operational results. These assumptions,
although considered reasonable by the company at the time of
preparation, may prove to be incorrect. Readers are cautioned that
actual performance of the company is subject to a number of risks and
uncertainties, and could differ materially from what is currently
expected as set out above. For more exhaustive information on these
risks and uncertainties you should refer to our annual information form
dated March 4, 2019 that is available at www.sedar.com.
Forward-looking information contained in this press release is based on
our current estimates, expectations and projections, which we believe
are reasonable as of the current date. You should not place undue
importance on forward-looking information and should not rely upon this
information as of any other date. While we may elect to, we are under no
obligation and do not undertake to update this information at any
particular time, whether as a result of new information, future events
or otherwise, except as required by applicable securities laws.
Contacts
Acerus Pharmaceuticals Corporation
Edward Gudaitis
President
and Chief Executive Officer
egudaitis@aceruspharma.com
(905)
817-8194