MONTREAL, QUEBEC -Valeo Pharma Inc. (CSE:VPH, OTCQB: VPHIF, FSE: VP2) ('Valeo' or the 'Company'), a Canadian pharmaceutical company, announced that Redesca and Redesca HP, its low molecular weight heparin ('LMWH') biosimilar, is now covered for public reimbursement in 7 provinces and territories across the country in addition to several governmental agencies and 70% of privately insured lives in Canada for private payer health plans reimbursement.

Amongst Canadian provinces, territories and governmental agencies presently publicly covering Redesca and Redesca HP for reimbursement are, Alberta, Manitoba, Ontario, New Brunswick, Prince Edward Island, Newfoundland, Northwest Territories, Non Insured Health Benefits for registered First Nations and recognized Inuit and Veterans Affairs Canada. Public reimbursement coverage in the remaining provinces is anticipated by the end of the year. 'We are very pleased to have secured public reimbursement coverage for Redesca by a majority of provinces across the country and to be in advanced discussion stages for the remaining provinces. Reimbursement coverage is always a key component of any commercialization strategy in healthcare industry and we are executing according to plan with regards to our Redesca program', said Frederic Fasano, Valeo's President and Chief Operating Officer. 'As one of our three transformative products recently launched, Redesca has already started materially impacting our financial performance. Given the positive feedback gathered from the field by our dedicated team, we are confident to see Redesca continue to grow rapidly and help us deliver on its clinical ans medical values, going forward'.

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.

Contact:

Steve Saviuk

CEO

T: 514-693-8830

E: saviuk@valeopharma.com

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