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BELLUS Health announces closing of the sale of its equity interest in FB Health for total consideration up to CA$2.5M
BELLUS Health announces closing of the sale of its equity interest in FB Health for total ...
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\nBELLUS Health announces closing of the sale of its equity interest in FB Health for total consideration up to CA$2.5M\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\nLAVAL, QC, July 3, 2017\n\n\n\nUpfront payment of CA$1.7M received\n\n\n\nLAVAL, QC, July 3, 2017 /CNW/ - BELLUS Health Inc. (TSX: BLU) (BELLUS Health or the Company), a biopharmaceutical development company advancing novel therapeutics for conditions with high unmet medical need, today announced the closing of the sale of its equity interest in FB Health S.p.A. (FB Health) as previously announced on June 19, 2017. \n\nFor its share, BELLUS Health will receive a potential total consideration of approximately CA$2.5 million, consisting of an upfront payment of CA$1.7 million received on closing and a contingent revenue-based milestone payment of up to CA$0.8 million, which will be determined in one year. \n\n\"The proceeds from this transaction will support the development of BLU-5937, our lead drug candidate for the treatment of chronic cough while extending our cash runway to the first quarter of 2019,\" said Roberto Bellini, President and Chief Executive Officer of BELLUS Health. \n\nAbout FB Health (www.fb-health.com)\n\nFB Health is an Italy-based specialty pharma company focused on neurology and psychiatry that distributes more than ten nutraceutical and pharmaceutical products in Italy.\n\nAbout BELLUS Health (www.bellushealth.com)\n\nBELLUS Health is a biopharmaceutical development company advancing novel therapeutics for conditions with high unmet medical need. Its pipeline of projects includes BLU-5937 for chronic cough and several other partnered clinical-stage drug development programs.\n\nForward-Looking Statements\n\nCertain statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, may constitute \"forward-looking statements\" within the meaning of Canadian securities legislation and regulations. Such statements, including with regards to the payment of the contin...