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.
Forward-Looking Statements
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.