Press Release: Lund, July 22, 2020

Press Release: Lund, July 22, 2020
22 July, 2020 lmg

Canopus Medical AB and Hyamedix ApS (Copenhagen) signed today a licensing agreement to develop a new product for treatment of Osteoarthritis (OA).

A unique hydrogel formulation will be developed by Hyamedix and Canopus to target the growing need for single injection products for treatment of OA, a very common form of arthritis, affecting millions of people worldwide. It is estimated by WHO that 18% of women and 10% of men over the age of 60 suffers from OA, severily affecting their quality of life. The new product will be classified as a medical device, class III, and will be developed and manufactured by Canopus in its production site at the Ideon Science Park.

”Beside our cosmetic domain with the dermal fillers, adding this new application opens a completely new market segment for our business. Our partnership with Hyamedix is now taken to the next level of innovation, where we try to explore new applications for the successful cross-binding technology, which Hyamedix is providing”.

Ali Ismail, CEO of Canopus Medical AB

The aim of Canopus hydrogel is to improve the lubricating properties of the synovial fluid, reduce the pain from osteoarthritis of the knee, improve mobility, and provide a higher and more comfortable level of activity. Most visco-supplement products on the market today requires 3-5 injections. Canopus aim at a single injection product leading to reduced hospital visits, fewer expected adverse effects and associated pain for the patients.

About Canopus Medical AB:
Canopus Medical was founded in 2015 by a dermatologist and a group of entrepreneurs, with the focus to provide the possibility to produce batches of cosmeceutical products for research and commercial purposes. Our three main areas are skin care, dermal fillers and Osteoarthritis. Beside developing and commercializing our own products, we also provide contract manufacturing services of many known brands in Scandinavia. Canopus Medical is certified to ISO 22716 (GMP for cosmetic products).