QUEBEC CITY, May 16, 2018 (GLOBE NEWSWIRE) -- Devonian Health Group Inc. ("Devonian" or the "Corporation") (TSX VENTURE:GSD) today announced that the Canadian Intellectual Property Office issued a Notice of Allowance for Canadian Patent application # 2,699,676, 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.
“This newly issued patent is an important milestone in Devonian’s strategic plan to establish our unique Purgenesis™ cosmeceutical line. This new patent follows Devonian’s first issued patent in Japan (#JP5952261). Robust patent protection strengthens our company’s commercial potential and makes us even more attractive to international partners.” says Devonian’s President & CEO, Dr. Andre P. Boulet.
“As cosmeceuticals continue to be the fastest growing segment in the cosmetics and personal care industry1, science-based skin care products with strong data such as Purgenesis™ are well positioned to respond to increasing and discerning demand for evidence-based products.” says Sybil Dahan, President of Altius Healthcare, Devonian’s Commercial Division.
About Purgenesis™ anti-aging treatment
R-Spinasome®, an active complex of thylakoids extracted from organic green leaves, forms the basis for Devonian’s first cosmeceutical anti-aging treatment, marketed under the PurgenesisTM product line. 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. This capacity to regenerate provides the R-Spinasome® complex unprecedented, long-lasting anti-oxidant activity. The PurgenesisTM anti-aging treatment has been shown, in a clinical study involving 72 subjects, to provide significantly superior results in terms of anti-wrinkle, firmness and hydration effects than leading anti-aging creams. The anti-aging treatment, comprised of a day cream, a night cream and an eye cream, is recognized by the Skin Health Program of the Canadian Dermatology Association.
About Devonian Health Group Inc.
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. ThykamineTM, the first active botanical ingredient (ABI) issued from Devonian’s SUPREXTM platform, is a highly innovative therapy for the treatment of inflammatory diseases and holds promise in a number of other key therapeutic areas. Devonian is also involved in the development of high-value cosmeceutical products with their purely science-based cosmeceutical line, marketed as PurgenesisTM. Devonian Health Group Inc. was incorporated in 2014 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’. Furthermore, their commercial division, Altius Healthcare, brings opportunities for further diversification and growth potential.
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.altiushealthcare.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 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 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|