London Drugs augments local recycling options with Saturday special

vicnews | April 26, 2019

London Drugs hosts a recycling day for Victoria residents on April 27. The event encourages residents to responsibly recycle old household goods at the end of their usable life, including electronics and packaging to assist with reducing the amount of waste going to the landfill. “It is a great opportunity for spring cleaning. Residents can bring their recyclable items for recycling rather than throwing them away including electronics, small appliances, batteries and even Styrofoam,” says Christopher McGregor, store manager at the Victoria Tillicum London Drugs location. “Together with the help of Victoria residents, we can divert thousands of pounds of materials from the landfill through this event.”

Spotlight

Policy-driven changes in healthcare spending and the growing significance of generic competition are acting in tandem to force pharmaceutical companies to adopt more costeffective manufacturing strategies resulting in an upsurge in the level of M&A activity in the industry as drugmakers consolidate to reduce costs, diversify product portfolios and expand geographic footprints. This whitepaper provides an overview of the pharmaceutical iopharmaceuticals. PharmaVentures will also share unique insight gained from the divestment of manufacturing operations for some of the world’s leading pharmaceutical companies.


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PHARMACY MARKET

The McQuade Center for Strategic Research and Development and Mindset Pharma Collaborate to Develop Psychedelic Medicines

McQuade | January 06, 2022

The McQuade Center for Strategic Research and Development, LLC, a member of the global Otsuka family of pharmaceutical companies, and Mindset Pharma Inc. announce a collaboration that will support the development of psychedelic medicines. MSRD has made a strategic investment to support the discovery and development of novel chemical entity assets of Mindset, a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet medical needs. “Exploring multiple paths is essential as we work to address the unique needs of individuals living with mental health conditions. We look forward to collaborating with Mindset on these assets and are hopeful that medical psychedelics could be approved to treat mental illness in the future.” Robert McQuade, Ph.D., president, McQuade Center for Strategic Research and Development, LLC, and chief strategic officer, Otsuka Pharmaceutical Development & Commercialization, Inc MSRD, which identifies and supports early-stage opportunities that can change the landscape of treatments for mental illness and renal disorders, will financially and operationally support the development of two families of Mindset’s novel medical psychedelic compounds through Phase 1a and Phase 1b clinical trials. MSRD has made an upfront cash payment of $5 million USD to Mindset and under the terms of the agreement, MSRD and Mindset may agree to expand the collaboration to continue to develop the compounds as pharmaceutical products. In addition, Mindset has granted MSRD a right of first refusal with respect to any asset sale, exclusive licensing or collaboration opportunities pertaining to the drugs and a right of first negotiation with respect to a merger, acquisition or asset sale related to Mindset, both in exchange for the upfront payment, further collaboration, and funding of the development of Mindset’s novel compounds. MSRD also has the ability to potentially receive single-digit percentage royalty payments under certain circumstances when the right of first refusal is not consummated or the agreement is terminated. “It is our great pleasure to collaborate with MSRD, a member company of Otsuka, to further the development of two of our families of novel psychedelic compounds. We look forward to leveraging their extensive experience in drug development and CNS indications to accelerate and de-risk our development pathway as we prepare to launch clinical trials,” said James Lanthier, chief executive officer of Mindset. “There is a high unmet need for innovative treatments of mental illness. This collaboration further validates our belief that optimized and patentable next-generation psychedelic compounds will be the future of treatments for mental illness.” Mr. Richard Patricio, chairman of Mindset’s board, added, “This transformational transaction is a validation of what our team has accomplished over the last several years. We are ecstatic that Otsuka has chosen to collaborate with Mindset in the novel psychedelic drug development space and see this as a pivotal moment in Mindset’s maturation. Our team is excited to work closely with MSRD to help meet the unmet needs of millions of people worldwide suffering with a variety of mental disorders. The future is truly exciting.” About Mindset Pharma Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds. For further information on Mindset, About the McQuade Center for Strategic Research and Development (MSRD) Established in 2019, by the Otsuka pharmaceutical business in the U.S., the mission of MSRD is to search for, identify, and fund innovative early-stage research and development programs that have the potential to build the future portfolio of Otsuka products. Otsuka is dedicated to investing in innovative and creative products in areas of unmet need and MSRD was created as an extension of this commitment to support and identify early-stage opportunities that can change the landscape of treatments for mental illness and renal disorders. About Otsuka Otsuka Pharmaceutical Co., Ltd. is a global healthcare company with the corporate philosophy: “Otsuka–people creating new products for better health worldwide.” Otsuka researches, develops, manufactures, and markets innovative products, with a focus on pharmaceutical products to meet unmet medical needs and nutraceutical products for the maintenance of everyday health.

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BUSINESS INSIGHTS

Labcorp Completes Acquisition of Personal Genome Diagnostics

Labcorp | February 21, 2022

Labcorp a leading global life sciences company, announced that it has closed its acquisition of Personal Genome Diagnostics Inc. (PGDx), a leader in cancer genomics with a portfolio of comprehensive liquid biopsy and tissue-based products. The addition of PGDx and its technology complements and accelerates Labcorp’s existing liquid biopsy capabilities and expands Labcorp’s leading oncology portfolio of next-generation sequencing (NGS)-based genomic profiling capabilities, positioning Labcorp at the forefront of driving better patient outcomes in oncology. About Labcorp Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With over 75,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $16.1 billion in FY2021.

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BUSINESS INSIGHTS

MedAvail Announces Pricing of $50 Million Private Placement

MedAvail | April 01, 2022

MedAvail Holdings, Inc. a technology-enabled retail pharmacy company, announced it has entered into a definitive securities purchase agreement for the sale of common stock and warrants to purchase common stock in a private placement with certain institutional and other accredited investors for gross proceeds to MedAvail of $50 million, before deducting placement agent commissions and other offering expenses. Pursuant to the terms of the securities purchase agreement and following the completion of all closings of the private placement, MedAvail will issue approximately 47.1 million shares of common stock and warrants to purchase approximately 23.5 million shares of common stock. The shares of common stock will be sold for a price of $1.0625 per share. Each purchaser will also receive a warrant to purchase 50% of the number of shares purchased under the securities purchase agreement by such purchaser. The warrants will have a per share exercise price of $1.25 and will be exercisable by the holder at any time on or after the issuance date for a period of five years. In addition, the warrant terms provide MedAvail with a call option to force the warrant holders to exercise up to two-thirds of the warrant shares subject to each warrant, with one-third of the warrant shares being callable beginning on each of the 12 month and 24 month anniversaries of the warrant issuance dates, in each case until the expiration of the warrants, and subject to the satisfaction of certain pricing conditions relating to the trading of MedAvail’s shares. If all warrants that are sold and issued in the private placement following the completion of all closings are fully exercised, then MedAvail would receive gross proceeds of approximately $29.4 million. The private placement is expected to have a first close on or about April 1, 2022, subject to the satisfaction of customary closing conditions. Additional details regarding the private placement will be included in a Form 8-K to be filed by MedAvail with the Securities and Exchange Commission. MedAvail intends to utilize the net proceeds for general corporate purposes and to fund its strategic initiatives. The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended or any state or other jurisdiction’s securities laws, and may not be resold absent registration under, or exemption from registration under, the Securities Act. MedAvail has agreed to file a registration statement with the SEC registering the resale of the shares of common stock to be issued and sold in the private placement, together with the shares of common stock underlying the warrants issued in the private placement, within 60 days of the applicable closing of the private placement in which such securities were purchased. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Cowen acted as the placement agent for the private placement. Lake Street acted as financial advisor. About MedAvail MedAvail Holdings, Inc. is a technology-enabled pharmacy organization, providing turnkey in-clinic pharmacy services through its proprietary robotic dispensing platform, the MedAvail MedCenter, and home delivery operations, to Medicare clinics. MedAvail helps patients to optimize drug adherence, resulting in better health outcomes.

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PHARMACY MARKET

FemTec Health Taps GeniusRx as Exclusive Online Pharmacy Partner for D2C Platform Awesome Woman

FemTec Health | February 19, 2022

FemTec Health, the leading health and beauty sciences company, announced an exclusive partnership with online pharmacy company GeniusRx that will provide Awesome Woman members access to on-demand, door-to-door medication delivery. Launching later this month, Awesome Woman is FemTec Health's consumer brand that will provide personalized health and wellness services along with products that are meaningful and effective to women at all life stages. Areas of focus include menopause, fertility, wellness and prevention, reproductive care, sexual wellness, mental health, chronic care, and beyond. GeniusRx will offer Awesome Woman members access to medications at the best price. "Women are ready for a new experience. We believe that a woman deserves a single trusted source that unifies and personalizes her healthcare. It's time for the healthcare industry to transform into an end-to-end personalized experience for every woman, at every stage of her life," said FemTec Health Chief Medical Officer Dr. Laura Clapper. FemTec Health was founded in May 2020 and publicly launched in October 2021 by serial entrepreneur Dr. Kimon Angelides who serves as Executive Chairman and Interim CEO of the company. Previously, Dr. Angelides founded several renowned digital health tech companies including Diabetes America, Vivante Health and EosHealth which was renamed Livongo. GeniusRx was launched in 2020 by telemedicine industry veteran Randy Parker. Both founders believe in solving inefficiencies to fix an expensive, fragmented healthcare experience. "We're excited to partner with GeniusRx to include pharmacy into the Awesome Woman offering of integrated personalized products and services to support women having the information, power and control to make their own health and wellness decisions from home," said Dr. Angelides. "With Awesome Woman's telehealth services and GeniusRx's competitive pricing and door-to-door accessibility, we remove the stress associated with having to go to the doctor and then to the pharmacy. This is the first of many partnerships we will be announcing to reinvent women's healthcare." "At GeniusRx, we take a patient-centered approach to help people achieve better health. We do it by providing convenient home delivery of medications and easy access to pharmacists who can provide optimal care and guidance around medications. We want to support women on their health journey and are excited to partner with FemTec on this mission to empower their health and wellness,'' said Randy Parker, CEO of GeniusRx. About FemTec Health Founded in May 2020 by Dr. Kimon Angelides and publicly launched in October 2021, FemTec Health is the leading Health and Beauty Sciences Company focused on using technology and data to transform the total healthcare experience for women in every stage of their life cycle. FemTec Health's mission is to revolutionize women's healthcare by using state-of-the-art genomics, predictive intelligence, and digital technologies to create an experience that is unified, coordinated, and provides personalized services and products based on every woman's unique needs. In addition to FemTec Health's direct to consumer offerings, the company also works with employers, health plans, and providers. With offices in New York, Houston, San Diego, London, Barcelona, Athens & Shanghai, FemTec Health currently has over 150 employees and is growing rapidly. Investors, capital and shareholders include Unilever Ventures, e.Ventures, Viking Global, Trinity Capital, and Longmont Capital with more than $38M raised to date. About GeniusRx GeniusRx is a full-service digital pharmacy designed to make access to medicine simple, intuitive, and personal. Utilizing technology to disrupt pricing, driving adherence, and deliver convenient & affordable pharmacy products and services, GeniusRx simplifies pharmacy to improve patient outcomes. As a US based pharmacy licensed in 49 states, GeniusRx is able to offer quality medications, secure purchases, and deliver nationwide. All of that coupled with real-time pharmacy communications and support, all accessible through our health & wellness "hub". GeniusRx's advanced pharmacy dispensing and fulfillment center users the latest in pharmacy automation, intelligence, and technology to provide patients with simple, safe, affordable, and personalized patient care services and medications.

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Spotlight

Policy-driven changes in healthcare spending and the growing significance of generic competition are acting in tandem to force pharmaceutical companies to adopt more costeffective manufacturing strategies resulting in an upsurge in the level of M&A activity in the industry as drugmakers consolidate to reduce costs, diversify product portfolios and expand geographic footprints. This whitepaper provides an overview of the pharmaceutical iopharmaceuticals. PharmaVentures will also share unique insight gained from the divestment of manufacturing operations for some of the world’s leading pharmaceutical companies.

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