QUEBEC CITY, June 27, 2018 (GLOBE NEWSWIRE) -- Devonian Health Group Inc. ("Devonian" or the "Corporation") (TSXv:GSD) today announced that the United State Intellectual Property Office issued a Notice of Allowance for United States Patent application # 13/261,472, entitled “The use of a photosynthetic cell extract in a cosmetic composition”. This patent relates to cosmetic and topical compositions containing the photosynthetic cell extract, developed by the company under the R-Spinasome® trademark and used as the active ingredient in the Purgenesis™ cosmeceutical line, or in synergy with sunscreen agents.
The compositions have anti-wrinkle and anti-aging effects on user’s skin with improvement of the aesthetic appearance of skin. Specifically, the formulation is said to improve the aesthetic appearance of the skin consisting of a decrease of the number and depth of wrinkles and increase in elasticity and hydration of the skin. In addition, the photosynthetic cell extract is said to protect against ultraviolet A (UVA) and ultraviolet B (UVB) damage.
“Following the first Devonian patents issued in Japan (JP5952261) and Canada (# 2,699,676), this newly issued patent is another milestone in Devonian's strategic plan to establish our unique Purgenesis™ cosmeceutical product line. We now have strong patent protection in North America, strengthening our company's commercial potential.” says Devonian’s President & CEO, Dr. Andre P. Boulet.
The Canadian sale and marketing activities are managed by Devonian’s Commercial Division, Altius Healthcare Inc.
“June 22nd, 2018 marked the launch of Purgenesis™ in Canada, corresponding to its first launch in the world. We are very excited for the issuance of this new patent as it allows us to expand our commercial activities into the United States.”, stated Sybil Dahan, President of Altius Healthcare.
About Purgenesis™ anti-aging treatment
Purgenesis™ Anti-aging treatment has three components: a day cream, a night cream and an eye cream. These creams contain R-Spinasome®, a complex that is an active structure with anti-oxidant properties. The structure of this complex is critical to its function as an anti-oxidant, enabling it to capture and dissipate noxious energy generated by Reactive Oxygen Species (ROS), returning the complex to a state where it is ready to undergo new activation cycles. It is this dynamism and capacity to regenerate that provides R-Spinasome® with unprecedented, long-lasting anti-oxidant activity. A clinical study involving 72 subjects (aged 35-72years) was conducted to evaluate the performance of Purgenesis™ Anti-aging product line compared with two other leading prestige brands over a 28-day period of use. The results indicate that Purgenesis™ Anti-aging line is significantly superior than leading prestige brands in terms of its anti-wrinkle, firmness and hydration effects. Purgenesis™ Anti-aging treatment is patent-pending worldwide with the exception of Japan, Canada and United States where patents were issued (#JP 5952261; #CDN 2,699,6765; #US 13/261,472). The product has been recognized by the Canadian Dermatology Association’s Skin Health Program™.
About Devonian
Devonian Health Group Inc. is a late stage botanical pharmaceutical corporation with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription botanical drugs from plant materials and algae for the treatment of inflammatory-autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian’s focus is further supported by a US-FDA set of regulatory guidelines favouring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian Health Group Inc. was incorporated in 2013 and is headquartered in Québec, Canada where it owns a state-of-the art extraction facility with full traceability ‘from the seed to the pill’. Their recently acquired commercialization partner, Altius Healthcare Inc., brings opportunities for further diversification and growth potential. Devonian is traded publicly on the TSXV Exchange (TSXv:GSD).
For more information, visit www.groupedevonian.com.
About Altius Healthcare Inc.
Based in Concord, Ontario, Altius Healthcare is a specialty pharmaceutical company with a primary focus of acquiring and in-licensing safe and innovative medicines and healthcare products designed to help people of all ages live healthier lives. Altius then leverages its expertise in the commercialisation activities required to successfully launch and distribute these medicines in Canada. The team’s diverse experience and expertise draws from nearly 40 years of producing, importing, marketing and distributing branded and generic medicines.
For more information, visit www.Altiushealtcare.ca
Forward Looking Statements
This press release contains forward-looking statements about Devonian’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. Such risks and assumptions include, but are not limited to, Devonian’s ability to develop, manufacture, and successfully commercialize value-added pharmaceutical and dermo-cosmeceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Devonian to take advantage of business opportunities in the pharmaceutical and dermo-cosmeceutical industries, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations in Devonian’s prospectus dated April 21st, 2017 under the heading “Risk Factors” related to Devonian’s business. As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Dr André P. Boulet, PhD
President and Chief Executive Officer
Devonian Health Group inc.
Telephone: (514) 248-7509
Email: apboulet@groupedevonian.com