Aequus to obtain gov't funding for anti-psychotic patch2017-02-01 11:56 ET - News Release Ms. Anne Stevens reports AEQUUS RECEIVES NON-DILUTIVE FUNDING FROM THE GOVERNMENT OF CANADA TO SUPPORT ARIPIPRAZOLE PATCH DEVELOPMENT Aequus Pharmaceuticals Inc. will receive funding of up to $100,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) to support the continuing proof-of-concept clinical study of its lead product candidate, AQS1301, a once-weekly transdermal aripiprazole patch. Aequus anticipates results of this repeat-dose, 28-day study in the first quarter of 2017. The results will be used to inform the final design of the patch to be advanced into the regulatory phase of its clinical trials. "We are appreciative of NRC-IRAP's support towards the clinical research of AQS1301," said Anne Stevens, chief operating officer and director of Aequus. "We believe that a once-weekly transdermal patch for aripiprazole will provide patients with a much-needed convenient and easy-to-use long-acting alternative, aiding in improving patient adherence to this important medication. The current study will help define our clinical and commercial prototype patch and moves us one step closer to finalizing partnering discussions for the next steps in the development and commercialization of this product." About AQS1301 Aripiprazole is an atypical anti-psychotic and the active ingredient in Abilify, a leading medication in the United States used for the treatment of a number of psychiatric disorders, including bipolar I disorder, schizophrenia, major depressive disorder and irritability associated with autistic disorder. Aripiprazole is currently available in once-daily oral tablets and a once-monthly injectable form; however, medication adherence continues to be a significant challenge for patients. Aequus has developed and owns global rights to a seven-day patch application of aripiprazole intended to provide patients with a convenient and easy-to-use long-acting alternative, in an effort to reduce the rate of relapse that may result from patients not adhering to their prescribed dosing schedule. The product is currently in clinical development. Aequus expects to confirm its regulatory development plan in a preinvestigational new drug (pre-IND) meeting with the U.S. Food and Drug Administration (FDA) in the second half of 2017.