-Transaction Expected to Close on or About February 5, 2016-
CHAPEL HILL, N.C., Feb. 2,
2016 /CNW/ -- POZEN Inc. ("POZEN") (NASDAQ: POZN), a
specialty pharmaceutical company, today announced that its
stockholders approved the Agreement and Plan of Merger and
Arrangement (the "Merger Agreement") with Tribute Pharmaceuticals
Canada Inc. ("Tribute") and the carrying out of the transactions
contained therein. Upon closing of the transaction, the POZEN and
Tribute businesses will operate as subsidiaries of Aralez
Pharmaceuticals Inc. ("Aralez"), a company domiciled in
Canada.
The Merger Agreement was also adopted by the Tribute
shareholders on February 1, 2016. The
proposed transaction remains subject to certain conditions and
approvals, including approval of the Ontario Superior Court of
Justice, listing of Aralez shares and customary closing conditions,
and is expected to occur promptly following satisfaction of all
conditions. Aralez will be listed on the NASDAQ stock exchange
under the ticker symbol "ARLZ" and is expected to begin trading on
or about February 8, 2016, and will
be listed on the Toronto Stock Exchange ("TSX") under the ticker
symbol "ARZ" and is expected to begin trading on on or about
February 10, 2016, assuming closing
on February 5, 2016.
About POZEN
POZEN is a specialty pharmaceutical
company that has historically focused on developing novel
therapeutics for unmet medical needs and licensing those products
to other pharmaceutical companies for commercialization. By
utilizing this business model, POZEN has successfully
developed and obtained FDA approval of two self-invented
products. Funded by these milestones/royalty
streams, POZEN has created a portfolio of cost-effective,
evidence-based integrated aspirin therapies designed to enable the
full power of aspirin to be realized by reducing its GI damage.
On June 2, 2015, POZEN announced
the formation of Aralez Pharmaceuticals Trading DAC (formerly Pozen
Limited), a wholly-owned Irish subsidiary, to expand its geographic
footprint and increase its global presence, including potential
international sales, manufacturing and product development.
POZEN's common stock is traded under the symbol "POZN" on
The NASDAQ Global Market. For more detailed company
information, including copies of this and other press releases,
please visit www.pozen.com.
About Tribute
Tribute is a specialty pharmaceutical
company with a primary focus on the acquisition, licensing,
development and promotion of healthcare products in Canada and the U.S. markets.
Tribute markets Cambia® (diclofenac potassium for oral
solution), Bezalip® SR (bezafibrate), Soriatane® (acitretin),
NeoVisc® (1.0% sodium hyaluronate solution) Uracyst® (sodium
chondroitin sulfate solution 2%), Fiorinal®, Fiorinal® C, Visken®,
Viskazide®, Collatamp® G, Durela®, Proferrin®, Iberogast®,
MoviPrep®, Normacol®, Resultz®, Pegalax®, Balanse®, Balanse® Kids,
Diaflor™, Mutaflor®, and Purfem® in the Canadian market.
Additionally, NeoVisc® and Uracyst® are commercially available and
are sold globally through various international partnerships.
Tribute also has the U.S. rights to Fibricor® and its related
authorized generic. In addition, it has the exclusive U.S. rights
to develop and commercialize Bezalip® SR in the U.S. and has the
exclusive right to sell bilastine, a product licensed from Faes
Farma for the treatment of allergic rhinitis and chronic idiopathic
urticaria (hives), in Canada. The
exclusive license is inclusive of prescription and non-prescription
rights for bilastine, as well as adult and pediatric presentations
in Canada. This product is subject
to receiving Canadian regulatory approval.
Tribute's common shares are traded on the TSX Venture Exchange
under the symbol "TRX" and on the OTCQX International under the
symbol "TBUFF". For more detailed company information, including
copies of this and other press releases, please
visit www.tributepharma.com.
Cautionary Language Concerning Forward-Looking
Statements
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995:
This press release contains forward-looking statements under
applicable securities laws, including, but not limited to,
statements related to the anticipated consummation of the business
combination transaction among Aralez, POZEN and Tribute and the
timing thereof, the proposed listing of Aralez on NASDAQ and TSX
and other statements that are not historical facts. These
forward-looking statements are based on POZEN's current assumptions
and expectations and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which
include, without limitation, risks related to the parties' ability
to complete the business combination and anticipated equity and
debt financings on the proposed terms and schedule; the combined
company meeting the listing requirements on NASDAQ and TSX and
those risks relating to the transaction and the combined
business of POZEN, Tribute and Aralez detailed from time-to-time
under the caption "Risk Factors" and elsewhere in each company's
respective filings and reports with the SEC. The parties undertake
no duty or obligation to update any forward-looking statements
contained in this press release as a result of new information,
future events or changes in their expectations.
Contact Information:
POZEN Inc.
Nichol
Ochsner
Executive Director, Investor Relations
& Corporate Communications
732-754-2545
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/pozen-inc-announces-stockholder-approval-of-its-transaction-with-tribute-pharmaceuticals-canada-inc-300213628.html
SOURCE POZEN Inc.