- CEO
- Craig Millian
- Full Time Employees
- 85
- Sector
- Health technology
- Industry
- Pharmaceuticals: major
- Address
- 10 Carlson Court Etobicoke ON Canada M9W 6L2
- IPO Date
- Mar 17, 1980
- Business
- HLS Therapeutics Inc. (TSX:HLS) is a Canada-based specialty pharmaceutical company focused on acquiring and commercializing clinically differentiated products addressing unmet needs in central nervous system disorders and cardiovascular disease; its core portfolio includes CLOZARIL (clozapine tablets), an atypical antipsychotic for treatment-resistant schizophrenia in Canada and the United States, VASCEPA (icosapent ethyl capsules), a purified omega-3 fatty acid for reducing cardiovascular risk in high-risk statin-treated patients with elevated triglycerides in Canada, MyCare psychiatry lab assays for therapeutic drug monitoring of antipsychotics such as clozapine, risperidone, quetiapine, aripiprazole, olanzapine and paliperidone, MyCare Insite point-of-care device for rapid blood-level measurement from a finger-stick sample, CSAN Pronto point-of-care blood testing device using AI for white blood cell and neutrophil counts to support CLOZARIL compliance, and a retained royalty interest in Takeda's Obizur for acquired hemophilia A; the company generates revenue from product sales, royalties and distribution in Canada, the United States and internationally, targeting healthcare providers, patients with psychiatric and cardiovascular conditions, and laboratory systems. Founded in 2014 and headquartered at 10 Carlson Court, Suite 701, Etobicoke, Ontario, Canada, with operational locations in the Toronto, Montreal and Philadelphia metropolitan areas, HLS Therapeutics employs approximately 91 people and maintains compliance with FDA and Health Canada standards through sourcing from originators and manufacturing partners. Recent developments include the termination of its Pfizer promotion agreement for VASCEPA in Canada effective August 31, 2024 with transition of primary care sales responsibilities back to HLS, sale of its Xenpozyme royalty interest to DRI Healthcare Trust in June 2024 for up to US$45.75 million to strengthen the balance sheet and reduce term loan principal, appointment of John Hanna as full-time CFO and Brian Walsh as Chief Commercial Officer in September 2024, amendment of its credit agreement in June 2024 extending maturity to August 2026 with adjusted revolving facility and interest terms, renewal of its normal course issuer bid for share repurchases, and strong 2024 financial performance with adjusted EBITDA growth excluding royalties, increased cash from operations, and 2025 outlook emphasizing portfolio expansion, profitability and financial flexibility.