News

• Public reimbursement for Vascepa is now available in Ontario, Quebec, British Columbia, Saskatchewan, New Brunswick, Northwest Territories, Veterans Affairs and for the Non-Insured Health Benefits (NIHB) program for First Nations and Inuit peoples.
• Approximately 14% of all Canadians live in British Columbia¹.
• Pacific Blue Cross, British Columbia's largest private health plan, also expected to reimburse Vascepa starting in February.

TORONTO, Feb. 6, 2024 /CNW/ - HLS Therapeutics Inc. ("HLS" or the "Company") (TSX: HLS), a pharmaceutical company focusing on addressing unmet needs in the treatment of psychiatric disorders and cardiovascular disease, announces that it has entered into a Product Listing Agreement ("PLA") with the province of British Columbia ("BC"), for the listing and public reimbursement of Vascepa (icosapent ethyl). The PLA with BC PharmaCare is effective February 6, 2024.

Under the terms of the PLA, Vascepa will be reimbursed as a Special Authority product by BC PharmaCare for the secondary prevention of cardiovascular events (cardiovascular death, non-fatal myocardial infarction, non-fatal stroke, coronary revascularization or hospitalization for unstable angina) in statin-treated patients with established cardiovascular disease and elevated triglycerides.

The PLA with BC PharmaCare also paves the way for Vascepa to be reimbursed by Pacific Blue Cross, which provides healthcare benefits for approximately 40%² of the privately insured lives in BC. The Pacific Blue Cross reimbursement process for Vascepa is near completion and is also expected to take effect this month.

"The Product Listing Agreement with BC PharmaCare, and the subsequent listing by Pacific Blue Cross, will significantly improve access and reimbursement throughout Canada's third largest province," said Craig Millian, CEO of HLS. "Cardiovascular disease remains one of the leading killers worldwide, so we are very pleased that Vascepa will now be more accessible to a greater number of BC residents who are eligible for treatment."

Approximately 14% of all Canadians live in BC¹. As disclosed previously, HLS has achieved public reimbursement for Ontario, Quebec, Saskatchewan, New Brunswick, Northwest Territories, Veterans Affairs and the NIHB program for First Nations and Inuit peoples.

Vascepa capsules are the first-and-only prescription treatment comprised solely of the active ingredient, icosapent ethyl (IPE), a unique form of eicosapentaenoic acid. Vascepa was approved by Health Canada and added to Health Canada's Register of Innovative Drugs and benefits from data protection for a term of eight years, as well as being the subject of multiple issued and pending patents based on its unique clinical profile. HLS in-licensed the exclusive rights to Vascepa for the Canadian market from Amarin Corporation (NASDAQ:AMRN).

Formed in 2015, HLS is a pharmaceutical company focused on the acquisition and commercialization of late-stage development, commercial stage promoted and established branded pharmaceutical products in the North American markets. HLS's focus is on products targeting the central nervous system and cardiovascular therapeutic areas. HLS's management team is composed of seasoned pharmaceutical executives with a strong track record of success in these therapeutic areas and at managing products in each of these lifecycle stages. For more information visit: www.hlstherapeutics.com

This release includes forward-looking statements regarding HLS and its business. Such statements are based on the current expectations and views of future events of HLS's management. In some cases, the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements, including, among others, statements with respect to the composition of HLS's board of directors. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting HLS, including risks relating to the specialty pharmaceutical industry, risks related to the regulatory approval process, economic factors and many other factors beyond the control of HLS. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause HLS's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of the material risks and assumptions associated with this release can be found in the Company's Annual Information Form dated March 15, 2023, and Management's Discussion and Analysis dated November 8, 2023, both of which have been filed on SEDAR+ and can be accessed at www.sedarplus.ca. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and HLS undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

1: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710000901
2: Company Sources

SOURCE HLS Therapeutics Inc.