MISSISSAUGA, ON , July 23, 2018 /PRNewswire/ - Nuvo
Pharmaceuticals Inc. (Nuvo or the Company) (TSX: NRI; OTCQX: NRIFF), a commercial healthcare company with a portfolio of marketed
products and pharmaceutical manufacturing capabilities, today announced that its wholly owned subsidiary, Nuvo Pharmaceuticals
(Ireland) Limited (Nuvo Ireland) has entered into a license and supply agreement (License
Agreement) with Fagron Belgium NV (Fagron) for the exclusive right to register, distribute, market and sell Resultz
® in Belgium, the Netherlands
and Luxembourg (BeNeLux or the Territory). Fagron is the Belgium-based affiliate of Fagron BV, a Netherlands-based pharmaceutical
and pharmacy compounding company. Fagron is the world's leading global pharmaceutical compounding company, bringing
personalized pharmaceutical care to hospitals, pharmacies, clinics and patients in 34 countries worldwide.
"We are extremely pleased to partner Resultz with Fagron in the BeNeLux region," said Jesse
Ledger, Nuvo's President & CEO. "Fagron's strong presence in retail pharmacies makes it an ideal partner for
Nuvo in the Territory. This transaction is an example of our ongoing progress towards the continued expansion of the
Resultz business globally."
License Agreement Details
The License Agreement grants Fagron the exclusive rights to register, market, sell and distribute Resultz
in the Territory, as a class one medical device for the human treatment of head lice infestation. Resultz is cleared for
marketing in the Territory and was previously commercialized in Belgium by Takeda Belgium
BV. Takeda has returned its product rights to Nuvo and Fagron will relaunch Resultz in the Territory. Fagron has
already initiated commercial activities in advance of the peak late summer head lice season. Nuvo Ireland received upfront
consideration, is eligible to receive royalties on net sales of Resultz in the Territory and will earn revenue from Fagron
pursuant to an exclusive supply agreement. Resultz is currently manufactured by the Company's contract manufacturing
partner in Belgium. Nuvo Ireland will immediately begin to earn royalty revenue under this agreement with
Fagron.
About Resultz
Resultz is a pesticide-free pediculicide rinse that addresses the challenge of increasing pesticide
resistance in lice and concerns about patient safety through exposure to pesticides. In as little as a 5-minute application
(the shortest treatment time for head lice products), Resultz acts to disrupt the wax covering of the head louse resulting in
their dehydration and death. Resultz lice and egg removal kit facilitates removal of lice, nymphs and nits with efficacy of
up to 100% when used as directed. If necessary, a second application approximately 7-10 days later will eliminate any
remaining lice. The Resultz lice and egg removal kit and its unique physical mechanism of action allows Resultz to work even with
pesticide resistant super lice. Resultz is indicated for treating both children and adults. It has an excellent safety
profile and contains active ingredients commonly found in many cosmetic products. Resultz was first launched as a medical
device in the United Kingdom and Ireland in 2005 and more than
ten million patients have been treated globally to-date. Current global licensees include Reckitt Benckiser Group PLC,
Aralez Pharmaceuticals Inc., Lapidot Medical and Fagron. Resultz is also pending registration in Japan, where the local license is held by Sato Pharmaceutical Co. Ltd. Resultz is protected by a
robust portfolio of 40 issued patents globally.
About Fagron Belgium
Fagron was founded in Rotterdam (the
Netherlands) in 1990. Through a continuous focus on innovation, quality and solution-oriented thinking, Fagron obtained
market leadership in pharmaceutical compounding in the Netherlands in just 7 years.
Fagron's successful strategy is focused on optimizing and innovating personalized pharmaceutical care while widening
therapeutic options for prescribers worldwide and improving patients' quality of life. Its unique business model and the
investments in innovation and product development resulted in the fact that Fagron is currently leading in pharmaceutical
compounding and is active in 34 countries in Europe, the Americas, the Middle East, Africa, Asia and the Pacific.
Fagron products and innovations are sold to over 200,000 customers in over 60 countries around the world.
With over 2,000 employees Fagron generated turnover of € 437 million in 2017. The Belgian company Fagron NV is
located in Nazareth and is listed on Euronext Brussels and Euronext Amsterdam under the ticker symbol 'FAGR'. The operational
activities of Fagron are driven by the Dutch company Fagron BV. The head office of Fagron BV is located in Rotterdam (the Netherlands).
About Nuvo Pharmaceuticals Inc.
Nuvo (TSX: NRI; OTCQX: NRIFF) is a global commercial healthcare company with a portfolio of marketed
products and pharmaceutical manufacturing capabilities. Nuvo has four commercial products that are available in a number of
countries: Pennsaid® 2%, Pennsaid, Resultz and the heated lidocaine/tetracaine patch. Nuvo manufactures
Pennsaid 2% for the U.S market, Pennsaid for the global market and the bulk drug product for the HLT Patch at its U.S. Food and
Drug Administration, Health Canada and E.U. approved manufacturing facility in Varennes,
Québec. The Company's focus is to maximize the value of Pennsaid 2% and Resultz through out-licensing to commercial
partners in international markets and identifying new opportunities to acquire additional, revenue-generating or late-stage
products or businesses to further diversify the Company's existing product portfolio. For additional information, please
visit www.nuvopharmaceuticals.com .
Forward-Looking Statements
This Press Release contains "forward-looking statements" within the meaning of applicable securities
laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future
periods.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based
only on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans and
strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are
difficult to predict and many of which are outside of the Company's control. Nuvo's actual results and financial condition may
differ materially from those indicated in the forward-looking statements. Therefore, readers should not rely on any of these
forward-looking statements. Important factors that could cause Nuvo's actual results and financial condition to differ materially
from those indicated in the forward-looking statements include, among others, the risk factors included in Nuvo's most recent
Annual Information Form dated March 22, 2018 under the heading "Risks Factors", and as described
from time to time in the reports and disclosure documents filed by Nuvo with Canadian securities regulatory agencies and
commissions. These and other factors should be considered carefully and readers should not place undue reliance on Nuvo's
forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future
results, levels of activity or achievements and none of Nuvo or any other person assumes responsibility for the accuracy and
completeness of these forward-looking statements.
Any forward-looking statement made by the Company in this Press Release is based only on information currently
available to it and speaks only as of the date on which it is made. Except as required by applicable securities laws, Nuvo
undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments or otherwise.
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SOURCE Nuvo Pharmaceuticals Inc.