Business
BELLUS Health and The NEOMED Institute Announce an Exclusive Worldwide License Agreement for the Development of a Treatment for Chronic Cough
BELLUS Health and The NEOMED Institute Announce an Exclusive Worldwide License Agreement f...
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\nBELLUS Health and The NEOMED Institute Announce an Exclusive Worldwide License Agreement for the Development of a Treatment for Chronic Cough\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Feb. 28, 2017\n\n\n\n- Potential best-in-class drug candidate targetingthe clinically validated P2X3 receptor for chronic cough -- Potential to help millions of chronic cough patients,including those who do not respond to current therapies -\n\n\n\nMONTREAL, Feb. 28, 2017 /CNW/ - BELLUS Health (TSX:BLU), a biopharmaceutical development company advancing novel therapeutics for conditions with high unmet medical need, and The NEOMED Institute (NEOMED), a not-for-profit organization bridging the gap between basic research and the commercialization of new drugs, today announced that BELLUS Health has obtained an exclusive worldwide license to develop and commercialize BLU-5937 (formerly NEO5937) for the treatment of chronic cough. BLU-5937 is a potent, highly selective, orally bioavailable small molecule antagonist of the P2X3 receptor.\n\nUnder the terms of the agreement, BELLUS Health will pay NEOMED an upfront fee of CAD $3.2 million, consisting of CAD $1.7 million in cash and CAD $1.5 million with 5,802,177 BELLUS Health common shares. NEOMED will be entitled to receive a royalty on net sales-based revenues. In lieu of milestone payments, a certain portion of all other revenues received by BELLUS Health from BLU-5937 will be shared with NEOMED according to a pre-established schedule whereby the shared revenue portion decreases as the program progresses in development. \n\n\"This transaction adds a potentially best-in-class drug candidate to our pipeline that will be a core focus of our drug development efforts going forward,\" said Roberto Bellini, President and CEO of BELLUS Health. \"BLU-5937 targets a clinically validated target, the P2X3 receptor, in the chronic cough pathway, and based on its high potency and selectivity for the P2X3 receptor, we believe it has the potential to become a superior treatment ...