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Auven Therapeutics and BELLUS Health Announce Engagement of Financial Advisor to Explore Sale of KIACTA(TM), an Experimental Drug in Phase III Development for the Treatment Of AA Amyloidosis
- Auven Therapeutics and BELLUS Health Amend the KIACTA™ Asset Purchase and Licensi...
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n- Auven Therapeutics and BELLUS Health Amend the KIACTA™ Asset Purchase\n and Licensing Agreement -  \n\n\nNEW YORK, NY and LAVAL, QC, May 7, 2014 /CNW/ - Auven Therapeutics, the\n global private equity company focused on accelerated development of\n breakthrough therapeutic drugs and BELLUS Health Inc. (TSX:BLU), a drug\n development company focused on rare diseases, today announced that\n Lazard has been engaged as financial advisors to explore the sale of\n KIACTA™, an orphan drug nearing completion of its confirmatory Phase\n III trial as a treatment for AA Amyloidosis.  Auven and BELLUS Health\n also have amended the asset purchase and license agreement related to\n KIACTA™ (eprodisate disodium) in order to facilitate a potential sale\n of KIACTA™.\n\n\n\"We intended to complete the Phase III confirmatory study before\n offering KIACTA™ for sale,\" said Stephen Evans-Freke, co-founder and\n Managing General Partner of Auven Therapeutics. \"However, we have\n received a number of indications of strong interest from prospective\n buyers keen to have sufficient lead time to prepare for a global\n launch. Therefore, it makes sense to facilitate this step by modifying\n our agreement with BELLUS Health, and to appoint an advisor to explore\n sale options.\"\n\n\n\"This new direction and amended agreement provide more flexibility to\n divest KIACTA™ at the most opportune moment for stakeholders, whether\n that proves to be this year or after the conclusion of the KIACTA™\n Phase III registration trial,\" said Roberto Bellini, President and\n Chief Executive Officer of BELLUS Health.\n\n\nAuven Therapeutics acquired worldwide rights related to KIACTA™ from\n BELLUS Health in 2010 and assumed control of the KIACTA™ development\n program and related activities, including the registrational Phase III\n clinical study in AA Amyloidosis. Auven and BELLUS Health have now\n agreed upon modified terms to share the proceeds from a divestiture of\n KIACTA™ particularly in the now-envisaged scenario of a KIACTA™ sale\n before the completion of its Phase III trial.\n\n\nAssuming that total divestiture transaction proceeds reach a\n pre-determined threshold, the parties will share aggregate proceeds\n equally. Auven retains certain preference rights on...