MONTREAL, QUEBEC , May 17, 2021 – Valeo Pharma Inc. (CSE:VPH, OTCQB: VPHIF, FSE: VP2) (“Valeo” or the “Company”), a Canadian pharmaceutical company, today announced that Valeo has been accepted for admission into the Innovative Medicines Canada (“IMC”) Association as a full member. IMC has represented Canada’s innovative pharmaceutical industry since 1914, with 47 members across the spectrum of small, midsize and large national and multi-national companies. The association plays a central advocacy role in all major issues related to the pharmaceutical industry, including price reform and the pan-canadian rare disease strategy, amongst others. IMC has also been playing an important role during the COVID-19 pandemic in supporting members and governments in the timely supply of vaccines and personal protective equipment. IMC has set guiding principles including its Code of Ethical Practices to promote ethics, respect and integrity in all interactions with stakeholders.

“We are proud to be admitted to Innovative Medicines Canada and we commend the tireless work of IMC in ensuring our industry thrives in Canada”, said Steve Saviuk, CEO of Valeo Pharma. “Valeo’s vision of building a foundational Canadian pharmaceutical company by driving therapeutic innovation to patients in need, is very well aligned with IMC’s vision of ensuring that Canadians have access to the innovative treatments they need”.

Commenting on joining IMC as a full member, Frederic Fasano, Valeo’s President and COO said, “we believe it is important for the future development of Valeo to increase our involvement alongside recognized industry leaders to ensure key healthcare issues receive the attention they deserve. Joining IMC will allow us to participate with our peers, government, healthcare professionnals and other related stakeholders in building a stronger life sciences ecosystem for the benefit of all Canadians”.

“We are pleased to welcome Valeo Pharma into the association and look forward to working with them on delivering better healthcare solutions”, said Pamela Fralick, President of Innovative Medecines Canada,“Canadians deserve and should expect timely access to the latest innovative medicines and treatment therapies, and Valeo will be an important IMC partner in achieving this goal”.

About Innovative Medicines Canada

Innovative Medicines Canada is the national voice of Canada’s innovative pharmaceutical industry. We advocate for policies that enable the discovery, development and commercialization of innovative medicines and vaccines that improve the lives of all Canadians. We support our members’ commitment to being valued partners in the Canadian healthcare system.

About Valeo Pharma

Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory Diseases, Neurodegenerative Diseases, Oncology and Hospital Specialty Products. Headquartered in Kirkland, Quebec Valeo Pharma has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter.

Forward Looking Statements

This press release contains forward-looking statements about Valeo’s objectives, strategies and businesses that involve risks and uncertainties. These statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For more information:

Steve Saviuk, CEO
514-693-8830
saviuk@valeopharma.com

or

Frederic Dumais, Director, Communications and Investor Relations
514-782-8803
dumais@valeopharma.com