Latest news with #Thykamine
National Post
26-06-2025
- Business
- National Post
Devonian Health Group Reports Third Quarter 2025 Financial Results
Article content QUÉBEC CITY — Devonian Health Group Inc. (' Devonian ' or the ' Company ') (TSXV: GSD; OTCQB: DVHGF), today announced financial results for its third quarter ended on April 30, 2025. ' Article content The operating cash flows generated by Altius revenues continued to support the development progress of Thykamine™, our lead product candidate, While our distribution agreement for DEXLANSOPRAZOLE has now ended, our liquidity has enabled us to continue creating value by advancing our Thykamine™ development program,' said Dr André Boulet, Chief Executive Officer of the Company. Article content Business Highlights Article content Financial Highlights Article content Distribution revenue for the third quarter was $7.36 million driven by DEXLANSOPRAZOLE revenues which launched in early 2024 but has now ended as of April 2025 The Company recorded during the quarter a non-cash impairment loss of $4.84 million against goodwill and intangible assets associated with the expiration of the Dexlansoprazole agreement which represented 95% of revenue in the current fiscal year to date Net loss for the quarter was $4.8 million, or $0.032 per share, entirely attributable to the $4.84 million non-cash impairment loss mentioned above Article content To consult the Interim Consolidated Financial Statements for the three and nine month periods ended April 30, 2025 and 2024, please click on the following link: Article content . Article content About Devonian Article content Devonian Health Group is a clinical stage pharmaceutical company specializing in the development of drugs for various auto-immune inflammatory conditions with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription drugs for the treatment of inflammatory autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian's focus is further supported by a US FDA set of regulatory guidelines favoring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Article content Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian also owns a commercialization subsidiary, Altius Healthcare Inc., focused on selling prescription pharmaceutical products in Canada, under license from brand name pharmaceutical companies. Article content Devonian Health Group Inc. was incorporated in 2015 and is headquartered in Québec, Canada where it owns a state-of-the art extraction facility with full traceability 'from the seed to the pill'. Devonian is traded publicly on the TSX Venture Exchange (the ' Exchange ') (TSXV: GSD) and on OTCQB exchange (OTCQB: DVHGF). Article content For more information, visit About Altius Altius is a generic pharmaceutical distribution division with a primary focus of acquiring and in-licensing safe and innovative medicines and healthcare products designed to help people of all ages live healthier lives. Altius then leverages its expertise in the commercialization activities required to successfully launch and distribute these medicines in Canada. Article content All statements, other than statements of historical fact, contained in this press release including, but not limited to those relating, the impact of proposed optimizations at the Company's projects, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, changes in accounting policies, the impact of inflation, the PCT patents for Thykamine™ might not be granted, and, generally, the above 'About Devonian' and 'About Altius' paragraphs, which essentially describes the Company's outlook, constitute 'forward-looking information' or 'forward-looking statements' within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Article content Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that these assumptions will prove to be correct and there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Article content By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the applicable securities regulators of Canada. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Article content Article content Article content Article content Article content Article content Article content
Yahoo
26-06-2025
- Business
- Yahoo
Devonian Health Group Reports Third Quarter 2025 Financial Results
Third quarter revenues increased 36% compared to 3Q24 Third quarter net loss of $0.032 per share QUÉBEC CITY, June 26, 2025--(BUSINESS WIRE)--Devonian Health Group Inc. ("Devonian" or the "Company") (TSXV: GSD; OTCQB: DVHGF), today announced financial results for its third quarter ended on April 30, 2025. Management Comments "The operating cash flows generated by Altius revenues continued to support the development progress of Thykamine™, our lead product candidate, While our distribution agreement for DEXLANSOPRAZOLE has now ended, our liquidity has enabled us to continue creating value by advancing our Thykamine™ development program," said Dr André Boulet, Chief Executive Officer of the Company. Business Highlights Completed preclinical studies designed to demonstrate new potential applications of Thykamine™ across even more inflammatory diseases, including MASH and fibrosis. Appointment of Dr Andre Boulet as Chief Executive Officer Appointment of Luc Gregoire as Executive Vice-President Strategy Financial Highlights Distribution revenue for the third quarter was $7.36 million driven by DEXLANSOPRAZOLE revenues which launched in early 2024 but has now ended as of April 2025 The Company recorded during the quarter a non-cash impairment loss of $4.84 million against goodwill and intangible assets associated with the expiration of the Dexlansoprazole agreement which represented 95% of revenue in the current fiscal year to date Net loss for the quarter was $4.8 million, or $0.032 per share, entirely attributable to the $4.84 million non-cash impairment loss mentioned above To consult the Interim Consolidated Financial Statements for the three and nine month periods ended April 30, 2025 and 2024, please click on the following link: About Devonian Devonian Health Group is a clinical stage pharmaceutical company specializing in the development of drugs for various auto-immune inflammatory conditions with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription drugs for the treatment of inflammatory autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian's focus is further supported by a US FDA set of regulatory guidelines favoring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines. Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian also owns a commercialization subsidiary, Altius Healthcare Inc., focused on selling prescription pharmaceutical products in Canada, under license from brand name pharmaceutical companies. Devonian Health Group Inc. was incorporated in 2015 and is headquartered in Québec, Canada where it owns a state-of-the art extraction facility with full traceability 'from the seed to the pill'. Devonian is traded publicly on the TSX Venture Exchange (the "Exchange") (TSXV: GSD) and on OTCQB exchange (OTCQB: DVHGF). For more information, visit About Altius Altius is a generic pharmaceutical distribution division with a primary focus of acquiring and in-licensing safe and innovative medicines and healthcare products designed to help people of all ages live healthier lives. Altius then leverages its expertise in the commercialization activities required to successfully launch and distribute these medicines in Canada. Cautionary Note Regarding Forward-Looking Statements All statements, other than statements of historical fact, contained in this press release including, but not limited to those relating, the impact of proposed optimizations at the Company's projects, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, changes in accounting policies, the impact of inflation, the PCT patents for Thykamine™ might not be granted, and, generally, the above "About Devonian" and "About Altius" paragraphs, which essentially describes the Company's outlook, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that these assumptions will prove to be correct and there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the applicable securities regulators of Canada. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. View source version on Contacts Devonian Health Group Andre BouletCEOMs Viktoria KrastevaCFOTelephone: 1 (450) 979-2916E-mail: investors@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Int'l Business Times
18-06-2025
- Business
- Int'l Business Times
Passion, Plants, and Phase III: Devonian Health Group Is on a Mission to Disrupt Inflammation Therapy
While the industry might be dominated by synthetic compounds, billion-dollar VC funds, and long, uncertain development timelines, Devonian Health Group Inc. is proving there is another way. As a publicly traded company, under the leadership of its founder and CEO, Dr. André P. Boulet, Devonian has quietly advanced multi-target drug candidates and a cutting-edge cosmeceutical line, backed not by institutional investors but by a network of Canadian family offices made up of dentists, physicians, engineers, and entrepreneurs. Boulet's journey to this unconventional success story reads like a masterclass in risk, reinvention, and scientific conviction. "I'm a venture capitalist in my heart," Boulet says. "But I'm also a scientist. When I saw the anti-inflammatory results of this botanical extract technology from a university agriculture project, I knew this had real potential. So, I followed my instinct and took the risk." With a PhD in physiology-endocrinology, postdoctoral training in biochemistry and biophysics, and experience leading cardiovascular clinical research programs, Boulet's transition from academia to venture capital was swift. After climbing the pharmaceutical ladder and managing funds in Montreal, he exited his partnership and launched what would become Devonian Health Group in 2015. At its core, Devonian is a clinical-stage pharmaceutical company focused on autoimmune and inflammatory conditions, with its lead drug candidate, Thykamine ™, poised to enter Phase III clinical trials for atopic dermatitis and soon pediatric eczema. "Traditional pharma was built on the 'silver bullet,' one target, one mechanism," Boulet explains. "But now science is evolving. We're moving toward therapies that modulate multiple pathways. That's exactly what Thykamine does without shutting down important immune functions like TNF-alpha. That's why our efficacy is high, but side effects are minimal." What sets Devonian apart isn't just its marquee drug but the platform behind it. The company's patented SUPREX™ technology allows for water-based extraction, purification, and stabilization of Active Botanical Ingredients (ABIs) from plants and algae. These complexes modulate inflammation at the genetic level across multiple diseases, offering a broad pipeline of possibilities. To date, Thykamine™ has demonstrated strong results in its Phase II trial. Both gastrointestinal (ulcerative colitis) and dermatological (eczema) models have shown significant symptom relief and safety comparable to placebo. Remarkably, all this has been achieved without traditional VC backing. Boulet credits this to his deep network of entrepreneurial allies and his belief in business-first partnerships. "We've raised funds to advance to Phase III, built an extraction and production facility, and kept the company debt-free," he says. While the pharmaceutical arm garners headlines, Devonian's cosmeceutical division is equally ambitious. Operating under the Purgenesis™ brand, the company has developed a premium line of anti-aging creams containing its patented botanical ingredient R-Spinasome®, a photosynthetic cell extract with dynamic antioxidant properties. What makes Purgenesis™ unusual in the beauty space is its clinical rigor. Devonian has conducted peer-reviewed, pharma-grade clinical trials on the entire product line, something virtually unheard of in the cosmeceutical industry. "We've scientifically proven a reduction in wrinkles," says Boulet. "Not just pretty pictures, but peer-reviewed, published data. We're the only ones doing cosmeceuticals the pharma way." With day, night, and eye creams already developed and a professional-grade serum in the pipeline, Devonian is currently seeking commercial partners to bring Purgenesis™ to a global market hungry for results-backed skincare. Perhaps the most unusual aspect of Devonian's success is how personal it all feels. There are no Silicon Valley investors or hedge fund suits behind the curtain, just a network of entrepreneurs who believe in the mission. "Working with family offices is stimulating," Boulet says. "You get input from pharmacists, dentists, and industrialists. We face challenges together, and we have fun doing it." The company's headquarters in Québec includes a full-scale extraction and production facility, providing complete traceability from seed to pill. This vertical integration helps with both cutting costs, yes, but also ensuring product consistency. For Boulet, the journey has been one of passion and perseverance. "In life, there's always a risk," he reflects. "But if you surround yourself with the right people and believe in what you're building, that risk becomes your fuel. That's what Devonian is about: science, instinct, and community." As the company readies for Phase III trials in both pharmaceuticals and final-stage commercialization of its skincare line, Devonian Health Group stands as a testament to the power of conviction and the potential of plants to reshape the future of medicine.
