MISSISSAUGA, ON, Jan. 13, 2021 /PRNewswire/ - Nuvo Pharmaceuticals
Inc. (TSX: MRV) (OTCQX: MRVFF) d/b/a Miravo Healthcare (Miravo or
the Company), a Canadian focused healthcare company with global
reach and a diversified portfolio of commercial products, today
announced the commercial launch of NeoVisc+ 2 mL and NeoVisc
ONE 4 mL in Canada. Both
NeoVisc+ and NeoVisc ONE received Health Canada approval in
September 2020 for the treatment of
pain and improvement of joint functionality in patients affected by
degenerative (age-related changes) or mechanical arthropathy
(related to overuse) of the knee.
"We continue to expand our Canadian business with the commercial
launch of the two new line extensions of NeoVisc," said
Jesse Ledger, Miravo's President
& Chief Executive Officer. "The launch of NeoVisc+ and NeoVisc
ONE provides doctors and patients with innovative options for the
treatment of knee pain."
About NeoVisc
NeoVisc+ and NeoVisc ONE are hyaluronic acid (HA)
viscosupplements injected by a licensed healthcare professional
into the knee joint. Extensive data in peer reviewed literature
indicates that intra-articular administration of HA is capable of
restoring the viscoelastic properties of the synovial fluid, with
alleviation of pain and improvement of joint mobility.
Viscosupplements are often administered to patients suffering from
the effects of osteoarthritis (OA).
NeoVisc is presented in pre-filled syringes containing either 30
mg/2 mL (NeoVisc+) administered at weekly intervals for 3 weeks or
a low volume single injection, 60 mg/4 mL (NeoVisc ONE). Both
presentations of NeoVisc reduce pain symptoms and improve knee
joint functionality for up to 6 months.
OA is the most common form of arthritis, affecting nearly five
million Canadians. Those numbers are increasing: an estimated one
in six Canadians will have OA by 2035, with a new diagnosis every
60 seconds. (Arthritis Society of Canada). Historical data indicates
approximately 29% of Canadians reported being diagnosed with OA of
the knee, with prevalence rates of 13.0% in patients 20-49, 38.3%
in patients aged 50-64, rising to 48.7% in those 65 years and
older. (Statistics Canada).
About Miravo Healthcare
Miravo is a Canadian focused, healthcare company with global
reach and a diversified portfolio of commercial products. The
Company's products target several therapeutic areas, including
pain, allergy, and dermatology. The Company's strategy is to
in-license and acquire growth-oriented, complementary products for
Canadian and international markets. Miravo's head office is
located in Mississauga, Ontario,
Canada, the international operations are located in
Dublin, Ireland and the Company's
manufacturing facility is located in Varennes, Québec, Canada. The
Varennes facility operates in a
Good Manufacturing Practices (GMP) environment respecting the U.S,
Canada and E.U. GMP regulations
and is regularly inspected by Health Canada and the U.S. Food and
Drug Administration. For additional information, please visit
www.miravohealthcare.com.
Forward-Looking Statements
This press release
contains "forward-looking information" as defined under Canadian
securities laws (collectively, "forward-looking statements"). The
words "plans", "expects", "does not expect", "goals", "seek",
"strategy", "future", "estimates", "intends", "anticipates", "does
not anticipate", "projected", "believes" or variations of such
words and phrases or statements to the effect that certain actions,
events or results "may", "will", "could", "would", "should",
"might", "likely", "occur", "be achieved" or "continue" and similar
expressions identify forward-looking statements. In addition, any
statements that refer to expectations, intentions, projections or
other characterizations of future events or circumstances contain
forward-looking statements.
Forward-looking statements are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events or circumstances, including the
anticipated receipt of certain milestone and royalty payments, the
anticipated launch of certain products and the potential impact of
COVID-19. Such forward-looking statements are qualified in their
entirety by the inherent risks, uncertainties and changes in
circumstances surrounding future expectations which are difficult
to predict and many of which are beyond the control of the Company.
Forward-looking statements are necessarily based on a number of
estimates and assumptions that, while considered reasonable by
management of the Company as of the date of this press release, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies and may prove to be
incorrect. Material factors and assumptions used to develop the
forward-looking statements, and material risk factors that could
cause actual results to differ materially from the forward-looking
statements, include but are not limited to, the validity of the
'907 and '285 Patents claims, the outcome of ongoing patent
litigation, the potential impact of COVID-19 on the Company's
operations, business and financial results and other factors, many
of which are beyond the control of Miravo. Additional factors
that could cause Miravo'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
Miravo's most recent Annual Information Form dated February 24, 2020 under the heading "Risks
Factors", and as described from time to time in the reports and
disclosure documents filed by Miravo with Canadian securities
regulatory agencies and commissions. These and other factors should
be considered carefully and readers should not place undue reliance
on Miravo's forward-looking statements. Forward-looking statements
should not be read as guarantees of future performance or results
and will not necessarily be accurate indications of whether or not
the times at or by which such performance or results will be
achieved.
All forward-looking statements are based only on information
currently available to the Company and are made as of the date of
this press release. Except as expressly required by applicable
Canadian securities law, the Company assumes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. All
forward-looking statements in this press release are qualified by
these cautionary statements.
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SOURCE Nuvo Pharmaceuticals Inc.