Business
BELLUS Health announces closing of the acquisition of Thallion Pharmaceuticals
- PIPELINE NOW FEATURES TWO CLINICAL-STAGE RARE DISEASE DRUG CANDIDATES - LAVAL, QC, A...
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n- PIPELINE NOW FEATURES TWO CLINICAL-STAGE RARE DISEASE DRUG CANDIDATES\n -\n\n\nLAVAL, QC, Aug. 15, 2013 /CNW Telbec/ - BELLUS Health Inc. (\"BELLUS\n Health\") (TSX: BLU) today announced the consummation of the previously\n announced arrangement pursuant to which BELLUS Health has acquired all\n of the issued and outstanding common shares of Thallion Pharmaceuticals\n Inc. (\"Thallion\") (TSX-V: TLN) for a purchase price of $6.266 million\n or $0.1889 per common share, and the issuance of one contingent value\n right per common share.\n\n\n\"The addition of Thallion's lead clinical stage drug candidate\n Shigamabs™ advances BELLUS Health's vision of being a developer of\n treatments targeting rare diseases\" said Roberto Bellini, President and\n Chief Executive Officer of BELLUS Health. \"We now have two\n clinical-stage programs targeting orphan diseases, including KIACTA™ in\n Phase III for AA amyloidosis and Shigamabs™ for Hemolytic Uremic\n Syndrome (\"HUS\"), two potentially deadly renal indications with no\n current specific treatments.\"\n\n\nThe transaction strengthens BELLUS Health's pipeline by adding a\n clinical stage drug candidate in a rare renal indication. Shigamabs™, a\n monoclonal antibody therapy, is being developed for the treatment of\n HUS related to Shiga toxin-producing E. coli (\"STEC\") bacterial\n infections. HUS principally affects the kidneys and often leads to\n acute dialysis, and in certain cases chronic kidney disease and death,\n primarily in children. BELLUS Health's lead program is KIACTA™, a drug\n candidate currently in a Phase III Confirmatory Study for the treatment\n of AA amyloidosis, a rare disease resulting in kidney dysfunction that\n often rapidly leads to dialysis and death. AA amyloidosis affects\n approximately 35,000 to 50,000 individuals in the United States, Europe\n and Japan.\n\n\nThe transaction also strengthens BELLUS Health's cash position by more\n than $1.1 million. The company's cash position on June 30th 2013, pro forma to the Thallion transaction, is $16.8 million, enabling the Company to\n be fully funded into 2018.\n\n\nAbout BELLUS Health (www.bellushealth.com)\n\n\nBELLUS Health is developing drugs for rare diseases with a particular\n focus on renal disorders. The Company's lead program is KIACTA™, a\n novel drug ...