Bellus Health to Acquire Remaining BLU-5937 Rights
March 23 2020 - 8:27AM
Dow Jones News
By Colin Kellaher
Bellus Health Inc. on Monday said it agreed to acquire all of
the remaining BLU-5937 and related P2X3 antagonists
intellectual-property assets from adMare BioInnovations for about
56 million Canadian dollars (US$40 million) in stock.
The Laval, Quebec, clinical-stage biopharmaceutical company said
the deal includes termination of the 2017 license agreement
covering the BLU-5937 assets, along with its royalty
obligations.
As part of the transaction, Bellus said it will issue 4.77
million common shares from treasury, representing 7.3% of its fully
diluted equity, to adMare and AstraZeneca AB, which assigned the
BLU-5937 assets to adMare in 2012.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 23, 2020 08:12 ET (12:12 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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