Resverlogix Repays $68.8 Million Loan
December 06 2017 - 7:16PM
Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX)
announced today that it has repaid, in full, its CAD$68.8 million
Loan (the “Loan”). Upon repayment of the Loan, the Company has no
outstanding long-term debt.
Mr. Donald McCaffrey, President and CEO
commented, "Retiring the Loan in its entirety significantly
strengthens Resverlogix’s financial position and increases our
degrees of freedom as we move forward. We would like to thank
Eastern Capital for its support in providing the letter of credit,
which secured the Loan at a very favourable rate. This attractive
financing permitted us to significantly advance the development of
apabetalone (RVX-208), including the launch of the Phase 3 trial
BETonMACE."
About Resverlogix
Resverlogix is developing apabetalone (RVX-208),
a first-in-class, small molecule that is a selective BET
(bromodomain and extra-terminal) inhibitor. BET bromodomain
inhibition is an epigenetic mechanism that can regulate
disease-causing genes. Apabetalone is the first and only BET
inhibitor selective for the second bromodomain (BD2) within the BET
protein called BRD4. This selective inhibition of apabetalone on
BD2 produces a specific set of biological effects with potentially
important benefits for patients with high-risk cardiovascular
disease (CVD), diabetes mellitus (DM), chronic kidney disease,
end-stage renal disease treated with hemodialysis,
neurodegenerative disease, Fabry disease, peripheral artery disease
and other orphan diseases, while maintaining a well described
safety profile. Apabetalone is the only selective BET bromodomain
inhibitor in human clinical trials. Apabetalone is currently being
studied in a Phase 3 trial, BETonMACE, in high-risk CVD patients
with type 2 DM and low high-density lipoprotein (HDL), and is
expected to be initiated in a Phase 2a kidney dialysis trial
designed to evaluate biomarker changes and safety parameters in up
to 30 patients with end-stage renal disease treated with
hemodialysis.
Resverlogix common shares trade on the Toronto Stock Exchange
(TSX:RVX).
Follow us on
Twitter: @Resverlogix_RVX (https://twitter.com/resverlogix_rvx)
For further information please contact:
Investor Relations Email: ir@resverlogix.com Phone: 403-254-9252
Or visit our website: www.resverlogix.com
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