Valeo Pharma Receives Approval from Health Canada for the Transfer of Commercial Rights to Ametop(TM)

• AmetopTM commercialization to begin in July 2020
  
• First of four Valeo products scheduled for launch this summer

MONTREAL, July 13, 2020 /CNW Telbec/ - Valeo Pharma Inc. (CSE: VPH)("Valeo" or the "Company"), a Canadian specialty pharmaceutical company, announced today that it has received a Notice of Compliance from Health Canada authorizing the transfer of the AmetopTM commercial rights to Valeo. Valeo entered into a licensing agreement with Alliance Pharma plc in April 2020 for the exclusive commercialization rights to AmetopTM in Canada.

"With Health Canada's approval, we are ready to commmence commercialization of AmetopTM in July ", said Steve Saviuk, Valeo's President and CEO. "Ametop is the first of the four products we will be launching this summer. We are also anticipating the approval of Redesca, a low molecular weight heparin, in early fall. These launches and the Redesca approval are key drivers in our move towards profitability."

About AmetopTM (tetracaine hydrochloride gel)

AMETOPTM Gel is a 4%w/w tetracaine hydrochloride gel indicated for percutaneous local anesthetic to produce anesthesia of the skin prior to venepuncture or venous cannulation, including intravenous injections of medications. AMETOPTM has been commercialized in Canada since 1998.

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. Headquartered in Kirkland, Quebec Valeo Pharma has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.comand 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE Valeo Pharma inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2020/13/c5451.html