LAVAL, QC, ROCKVILLE, MD and CAMBRIDGE, United Kingdom, Nov. 15, 2019 /CNW Telbec/ - Liminal BioSciences Inc. (TSX: LMNL) (OTCQX: PFSCF) ("Liminal BioSciences" or the "Company"), a clinical-stage biopharmaceutical company focused on developing novel therapeutics to treat unmet needs in patients with liver, respiratory and kidney disease, announced today that it has filed a Form 40-F Registration Statement with the U.S. Securities and Exchange Commission ("SEC"),which has become effective, and its common shares have been approved for trading on the Nasdaq Global Market ( "NASDAQ"). Trading is expected to commence on NASDAQ on Monday, November 18, 2019, under the ticker symbol 'LMNL'. The Company's common shares will continue to trade on the Toronto Stock Exchange under the symbol "LMNL".
"Having our common shares traded on NASDAQ represents an important step for Liminal, as we continue to focus on the successful development and commercialization of our proprietary clinical-stage products, including Ryplazim™ and PBI-4050", stated Kenneth Galbraith, Chief Executive Officer of the Company.
About Liminal BioSciences Inc.
Liminal BioSciences is an innovative biopharmaceutical company with a broad pipeline of small molecule therapeutics under development to treat unmet needs in patients with liver, respiratory and kidney disease, with a focus on rare or orphan diseases. Liminal BioSciences' research involves the study of several G-protein-coupled-receptors, GPR40, GPR84 and GPR120, known as free fatty acid receptors (FFAR's). These drug candidates have a novel mechanism of action as agonist ("stimulator") of GPR40 and GPR 120, and antagonist ("inhibitor") of GPR84. Our lead drug candidate, PBI-4050, is expected to enter Phase 3 clinical studies for the treatment of Alström Syndrome after further consultation and approval by the U.S. Food and Drug Administration (the "FDA") and the European Medicines Agency. A second drug candidate, PBI-4547, is currently in a Phase 1 clinical study.
Liminal BioSciences has also leveraged its experience in bioseparation technologies through its wholly-owned subsidiary Prometic Bioproduction Inc. to isolate and purify biopharmaceuticals from human plasma. Our lead plasma-derived therapeutic product is RyplazimTM (plasminogen), for which the Company expects to file a Biologics License Application with the FDA in the first half of 2020 seeking approval to treat patients with congenital plasminogen deficiency. The Company also operates a contract development and manufacturing operation in the United Kingdom, Prometic Bioseparations Ltd. ("PBL"). Liminal BioSciences has entered into a binding share purchase agreement for the divestment of PBL, expected to close in the fourth quarter of 2019, subject to customary closing conditions.
Liminal BioSciences has active business operations in Canada, the United Kingdom, the United States, and the Isle of Man.
Forward Looking Statement
This presentation contains forward-looking statements about Liminal BioSciences' objectives, strategies and businesses that involve risks and uncertainties, including the date on which Liminal BioSciences' common shares begin trading on the NASDAQ, the timing of any planned Biologics License Application filing, the closing of the share purchase agreement for the divestment of PBL and timing of initiation of Liminal BioSciences' planned clinical trials. 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. Such risks and assumptions include, but are not limited to, Liminal BioSciences' ability to develop, manufacture, and successfully commercialize value-added pharmaceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Liminal BioSciences' to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations in the Annual Information Form for the year ended December 31, 2018, under the heading "Risks and Uncertainties related to Liminal BioSciences' Business". As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations.
SOURCE Liminal BioSciences Inc.