Announces Distribution Agreement with Apex

LONDON, December 3, 2019 – Ascension Healthcare plc (“Ascension” or the “Company”), a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapies for haemophilia and osteoarthritis, today announces it has signed an important distribution agreement with Apex Pharma Marketing Pte Ltd, Singapore and Apex Pharmacy Marketing Sdn Bhd, Malaysia (collectively referred to as “Apex”) to supply Flexiseq to the Singapore and Malaysian markets. Apex are wholly owned subsidiaries of Apex Healthcare Berhad, which is publicly listed on the Malaysian stock exchange.

Under the terms of the agreement, Apex will purchase Flexiseq products from Ascension and be the exclusive importers and distributors over a two-year period, to service the pharmacy market, including A.S. Watsons, Guardian and Caring Pharmacy chains in the region. Discussions are also underway to explore expanding the partnership across South East Asia including Myanmar, Vietnam and Cambodia.

Biresh Roy, Chief Executive Officer of Ascension, said: “There is a growing need for safe alternatives to treat osteoarthritis. Not only is our product safe, it is drug-free and results from our recent Flexiseq user experience study showed users had a significant improvement in joint health, mobility, and a reduction in their need for painkillers. We are excited to have signed this agreement with Apex, a leading healthcare group in Singapore and Malaysia, enabling us to expand into the Asian market, and improve the quality of life for even more people suffering from this debilitating condition.”

Mark Turrell, Group Sales and Marketing Director of Ascension, said: “Expanding Flexiseq around the world and widening availability to more osteoarthritis patients is a key driver for our business. We are delighted to be working with Apex in order to deliver our unique Sequessome Technology (SeqTeq) to osteoarthritis sufferers in South East Asia.”

Tan Hing Tai, Executive Director of Apex, said: Apex is pleased to be a strategic partner to Ascension in helping to improve the quality of life for osteoarthritis sufferers and those wishing to maintain joint health in South East Asia by bringing Flexiseq to the region and we look forward to a close collaboration in the coming years.”

Additionally, following its launch in June, Flexiseq 30g handy pack is now on sale in Lloyds Pharmacy, Superdrug and Well Pharmacy throughout the UK. Flexiseq 30g is designed with the smaller joints in mind such as fingers, thumbs and toes and comes in a convenient travel size pack.

About Ascension Healthcare plc

Ascension Healthcare plc is a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapies for the treatment of haemophilia and osteoarthritis.

The Company has three products in clinical or pre-clinical development for the treatment of Haemophilia A and also a range of internationally marketed products for osteoarthritis sufferers.  

For more information please visit: www.ascension.co.uk/

About Flexiseq

Flexiseq is a topical gel designed to support joint health and mobility. Unlike many topical gels for joint pain, Flexiseq is drug-free so can be used long-term by patients who are sensitive to, or cannot take, traditional pain medications.

Find out more by visiting: https://flexiseq.com/pages/about

About Apex Healthcare Berhad

Apex Healthcare Berhad is a leading healthcare group with operations in Malaysia, Singapore, Vietnam and Myanmar. Founded in 1962, its core expertise is in the development, manufacturing, sales and marketing, distribution and wholesaling of pharmaceuticals, consumer healthcare products and diagnostics. Apex Healthcare Berhad is publicly listed on the Main Market of Bursa Malaysia (stock exchange of Malaysia).  Total turnover in 2018 was RM 653m (£126m) and Profit before tax of RM 69.3m (£13.4m). In July, Apex was recognised as the 11^th fastest growing public listed company in Malaysia in terms of revenue and net profits. Apex employs 1,357 people and has direct operations in Malaysia, Singapore, Vietnam and Myanmar. In 2017, the pharmaceutical manufacturing division of Apex Healthcare Berhad, Xepa-Soul Pattinson (M) Sdn Bhd, was awarded a certificate of GMP compliance of a manufacturer (EU GMP Certificate) by the national competent authority in Hungary.

For more information please visit: http://www.apexhealthcare.com.my