The Company received funds in relation to the 2009 Thallion transaction and a payment of $577,152 will be made to the CVR holders on March 10, 2017
LAVAL, QC, Feb. 17, 2017 /CNW/ - BELLUS Health Inc. (TSX: BLU) (BELLUS Health or the Company), a drug development company focused on rare diseases, today announced that it received $572,586 as additional purchase price consideration in relation to the 2009 Thallion Pharmaceuticals Inc. (Thallion) transaction (the Additional Consideration Payment). This amount will be paid in full to the Contingent Value Rights (CVR) holders, as provided in the agreements of the 2013 Thallion acquisition by BELLUS Health.
In total, an amount of $577,152 ($0.01609 per CVR) will be paid on March 10, 2017, to CVR holders of record on February 17, 2017. In addition to the Additional Consideration Payment, BELLUS Health will remit to CVR holders $50,000 in relation to the replacement cost of Shigamab antibodies, and will deduct $28,458 of CVR agent costs, $13,404 of undisclosed liability not included in the 2013 Thallion Statement of Net cash and $3,572 of expenses in relation to the unsuccessful listing of the CVR on the Toronto Stock Exchange, all in accordance with the terms of the agreements of the 2013 Thallion acquisition by BELLUS Health.
About BELLUS Health (www.bellushealth.com)
BELLUS Health is a drug development company focused on rare diseases. Its pipeline of rare disease projects includes KIACTA™ for the treatment of sarcoidosis and clinical-stage Shigamab™ for sHUS. BELLUS Health is partnered with global private equity firm Auven Therapeutics for the development of KIACTA™. BELLUS Health also has economic interests in several other partnered drug development projects.
Certain statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, may constitute "forward-looking statements" within the meaning of Canadian securities legislation and regulations. Such statements, based as they are on the current expectations of management, inherently involve numerous important risks, uncertainties and assumptions, known and unknown, many of which are beyond BELLUS Health Inc.'s control. Such risks factors include but are not limited to: the ability to obtain financing, the impact of general economic conditions, general conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which BELLUS Health Inc. does business, stock market volatility, fluctuations in costs, changes to the competitive environment due to consolidation, achievement of forecasted burn rate, potential payments/outcomes in relation to indemnity agreements and contingent value rights, achievement of forecasted pre-clinical and clinical trial milestones, dependence on Auven Therapeutics for the development of KIACTA™ and that actual results may vary once the final and quality-controlled verification of data and analyses has been completed. In addition, the length of the KIACTA™ development process and the sharing of proceeds between Auven Therapeutics and BELLUS Health Inc. from potential future revenue of KIACTA™ are dependent upon a number of factors, including the quantum of proceeds. Consequently, actual future results and events may differ materially from the anticipated results and events expressed in the forward-looking statements. The Company believes that expectations represented by forward-looking statements are reasonable, yet there can be no assurance that such expectations will prove to be correct. The reader should not place undue reliance, if any, on any forward-looking statements included in this news release. These forward-looking statements speak only as of the date made, and BELLUS Health Inc. is under no obligation and disavows any intention to update publicly or revise such statements as a result of any new information, future event, circumstances or otherwise, unless required by applicable legislation or regulation. Please see BELLUS Health Inc.'s public filings with the Canadian securities regulatory authorities, including the Annual Information Form, for further risk factors that might affect BELLUS Health Inc. and its business.
SOURCE BELLUS Health Inc.
For further information: François Desjardins, Vice-President, Finance, 450-680-4525, email@example.com