BELLUS Health Announces Payment of $134,149 to Thallion CVR Holders
December 28 2018 - 07:00AM
BELLUS Health Inc. (TSX: BLU) (“BELLUS Health” or the “Company”), a
clinical-stage biopharmaceutical company developing novel
therapeutics for conditions with high unmet medical needs, today
announced that it will pay an amount of $134,149 to the Contingent
Value Rights (“CVR”) holders as provided in the agreements of the
2013 Thallion Pharmaceuticals Inc. (“Thallion”) acquisition by
BELLUS Health.
In accordance with the terms of the agreements
of the 2013 Thallion acquisition, Thallion’s income tax credits
deducted in the 2013 Thallion Statement of Net Cash are now payable
to the CVR holders as they were not claimed by tax authorities
after their audit or their assessment period expired (the “Income
Tax Credits”).
Accordingly, on January 25, 2019, a net amount
of $134,149 ($0.00374 per CVR) will be paid to the CVR holders of
record on December 28, 2018, which consists of the Income Tax
Credits of $159,603 less $25,454 for CVR agent costs. CVR agent
costs were deducted from the Income Tax Credits in accordance with
the terms of the agreements of the 2013 Thallion acquisition by
BELLUS Health.
The Company expects that there will be no
additional payment to CVR holders.
About BELLUS Health
(www.bellushealth.com)
BELLUS Health is a clinical-stage
biopharmaceutical company developing novel therapeutics for
conditions with high unmet medical need. Its pipeline of projects
includes the Company’s lead drug candidate BLU-5937 for chronic
cough and several other partnered clinical-stage drug development
programs. BLU-5937, a highly selective P2X3 antagonist, has the
potential to be a best-in-class therapeutic for chronic cough
patients who do not respond to current therapies.
Chronic cough is a cough that lasts more than
eight weeks and is associated with significant adverse social,
psychosocial and physical effects on quality of life. A commercial
assessment performed by Torreya Insights on behalf of the Company
concluded that, in the United States alone, more than 26 million
adults have chronic cough and more than 2.6 million of these
patients suffer from refractory chronic cough lasting for more than
a year.
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 expand and develop
its project pipeline, 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 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 BELLUS Health Inc.’s drug candidates’ development
process, their market size and commercial value, as well as the
sharing of proceeds between BELLUS Health Inc. and its potential
partners from potential future revenues, if any, are dependent upon
a number of factors. Consequently, actual future results and events
may differ materially from the anticipated results and events
expressed in the forward-looking statements. BELLUS Health Inc.
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.
FOR MORE INFORMATION, PLEASE CONTACT:
François DesjardinsVice President, Finance
450-680-4525fdesjardins@bellushealth.com
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