Business
Genix Pharmaceuticals Corporation Prepares to File Abbreviated New Drug Submissions (ANDS) for Its First Ten Ophthalmic Drugs with Health Canada
Genix Introduces Paul Chow to the Board of Directors Vancouver, British Columbia--(Newsfile C...
About this update from Genix Pharmaceuticals Corporation
[{"type":"text","content":"Genix Pharmaceuticals Corporation Prepares to File Abbreviated New Drug Submissions (ANDS) for Its First Ten Ophthalmic Drugs with Health CanadaGenix Introduces Paul Chow to the Board of DirectorsVancouver, British Columbia--(Newsfile Corp. - March 22, 2021) - Genix Pharmaceuticals Corporation (TSXV: GENX) (\"GENIX\" or the \"Company\") GENIX is pleased to announce that it has entered into an agreement with a regulatory consulting company to prepare and file Abbreviated New Drug Submissions (ANDS) with Health Canada for the first 10 of its 30 generic ophthalmic drugs, acquired by the Company.An ANDS is an application to Health Canada to approve a prescription generic pharmaceutical for sale in Canada. Upon approval of an ANDS, Health Canada issues the applicant with a Marketing Authorization and Drug Identification Number (DIN), which allows the applicant to legally sell the drug in Canada. Upon submission of these ten ANDS applications, the Company expects to receive Health Canada approvals and issuance of these DINs within 12 months.Upon completion of the first ten ANDS filings, the Company shall immediately proceed with the ANDS filings of the remaining twenty ophthalmic drugs in GENIX's portfolio.The Company's CEO, Sina Pirooz, states, \"Today represents the first milestone in GENIX's plan to become an important supplier of ophthalmological pharmaceuticals in Canada. The Company will continue to acquire additional generic drugs, within the fast growing ophthalmological and chronic obstructive pulmonary disease (COPD) market sectors, and will also continue to move forward with its research & development of new ophthalmic and COPD products for the Canadian and global markets.\"The Company would also like to announce the appointment of Mr. Paul Chow to the Company's Board of Directors. Mr. Chow has served in the capital markets for over two decades providing corporate advisory services and acting as a director and/or senior officer with several private and public companies throughout North America. He has helped companies develop their business model through strategic planning, corporate finance, business development and marketing. Most recently he has led Next Green Wave Holdings Inc. - an integrated cannabis producer with manufacturing facilities in California, to successfully list on the Canadian Securities Exchange and ...