Valeo Pharma Inc (CSE:VPH) revealed it has started commercialization of its new antitumor agent Yondelis in Canada.
The milestone follows Valeo’s receipt of a Notice of Compliance from Health Canada that authorized the transfer of the commercial rights of Yondelis, a novel, synthetically produced agent isolated from Ecteinascidia turbinata, a type of sea squirt.
The treatment is currently approved in Canada for patients with metastatic liposarcoma or leiomyosarcoma after traditional chemotherapy. It is also approved, in combination with chemotherapy drug Caelyx for second line treatment of patients with ovarian cancer.
Calling the drug a “recognized global standard of care” in dealing with soft tissue sarcoma, Valeo CEO Steve Saviuk told shareholders that the firm is aiming to expand awareness of its benefits and availability across Canada.
"The commercialization of Yondelis is the second of four products we plan on launching this summer,” Saviuk said in a statement.
“These launches, as well as the anticipated early fall approval of Redesca, underline our commitment to provide Canadian health care professionals and patients with important therapeutics.”
Yondelis is manufactured by Spanish firm PharmaMar SA, which is based in Madrid.
Kirkland, Quebec-based Valeo Pharma is a specialty pharmaceutical company that commercializes innovative prescription products in Canada with a focus on neurodegenerative diseases, oncology and hospital specialty products.
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