BELLUS Health Announces Closing of Transaction to Acquire Remaining Intellectual Property Rights to BLU-5937 from adMare BioI...
March 25 2020 - 2:07PM
Business Wire
- BELLUS now owns 100% of BLU-5937 and
related P2X3 antagonist intellectual property with no future
payments due -
- 4.77 million BELLUS Health common shares
issued in consideration -
BELLUS Health Inc. (Nasdaq: BLU; TSX: BLU) (the “Company” or
“BELLUS Health”) is pleased to announce that it has closed the
transaction announced on March 23, 2020 (the “Transaction”) in
accordance with the asset purchase and sale agreement entered into
with adMare BioInnovations’ NEOMED Institute (“adMare”).
As part of the Transaction, the Company acquired from adMare all
of the remaining BLU-5937 and related P2X3 antagonists intellectual
property assets (the “BLU-5937 Assets”). The parties have
terminated the 2017 license agreement pursuant to which the Company
had exclusive rights to develop and commercialize the BLU-5937
Assets and henceforth the Company no longer has any obligations to
adMare, or any third party, in respect thereof. Consideration for
the asset purchase consisted of 4,770,000 common shares of the
Company, representing 7.3% of the Company’s fully diluted
equity.
In order to qualify and register the issuance of the common
shares to the parties, the Company filed a prospectus supplement
(the “Prospectus Supplement”) to its base shelf prospectus dated
January 17, 2020 (the “Shelf Prospectus”) with the Autorité des
marchés financiers, and pursuant to its registration statement on
Form F-10 (File No. 333-235637), declared effective on January 21,
2020, with the U.S. Securities and Exchange Commission. The
Prospectus Supplement contains detailed information about the
Transaction and the common shares and is available, together with
the Shelf Prospectus, on SEDAR at www.sedar.com, on EDGAR at
www.sec.gov/edgar.shtml and on the Company’s website at
www.bellushealth.com. Copies of the Prospectus Supplement and the
accompanying prospectus may be obtained from François Desjardins,
Vice-President, Finance, 275 Armand-Frappier Boulevard, Laval,
(Quebec) Canada H7V 4A7, or by calling 450-680-4525 or by emailing
fdesjardins@bellushealth.com.
No regulatory authority has either approved or disapproved the
contents of this news release. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any province,
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of any such province, state or
jurisdiction.
About BELLUS Health
BELLUS Health is a clinical-stage biopharmaceutical company
developing novel therapeutics for the treatment of chronic cough
and other hypersensitization-related disorders. The Company’s
product candidate, BLU-5937, is being developed for the treatment
of chronic cough and chronic pruritus.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute
“forward-looking statements” within the meaning of applicable
securities laws. Such statements, based as they are on the current
expectations of management, inherently involve numerous important
risks, uncertainties and assumptions, known and unknown.
Consequently, actual future results and events may differ
materially from the anticipated events expressed in the
forward-looking statements. Forward-looking statements should not
be regarded as a representation that any of the plans will be
achieved. BELLUS Health 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 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 securities laws. Please see BELLUS Health's
public filings with the Canadian securities regulatory authorities,
including, but not limited to, its Annual Information Form, and the
United States Securities and Exchange Commission for risk factors
that might affect BELLUS Health and its business.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200325005643/en/
François Desjardins Vice President, Finance 450-680-4525
fdesjardins@bellushealth.com
Danny Matthews Director, Investor Relations and Communications
917-828-0414 danny@bellushealth.com
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