Business
BELLUS Health Out-Licenses VIVIMIND, BLU8499 and Its Analogs
-VIVIMIND Rights Licensed to Specialty Pharma FB Health- -BLU8499 and Tramiprosate Anal...
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n-VIVIMIND Rights Licensed to Specialty Pharma FB Health-\n\n\n-BLU8499 and Tramiprosate Analog Platform Rights Licensed to Alzheon,\n Inc., a U.S. Biotechnology Company Focused on Alzheimer's Disease-\n\n\nLAVAL, QC, Oct. 23, 2013 /CNW/ - BELLUS Health Inc. (TSX: BLU) (\"BELLUS\n Health\" or the \"Company\"), a drug development company focused on rare\n diseases, today announced the divestiture of two non-core assets:\n VIVIMIND™, a natural health product for memory protection, and BLU8499,\n a drug candidate for the treatment of CNS diseases including\n Alzheimer's disease.\n\n\n\"VIVIMIND™ and BLU8499 are being divested to knowledgeable partners who\n can increase the potential of creating value for BELLUS Health's\n shareholders,\" said Roberto Bellini, Chief Executive Officer of BELLUS\n Health.  \"This transaction also allows us to focus entirely on the\n development of drugs for rare diseases, including KIACTA™ for AA\n amyloidosis, which is currently in a Phase 3 confirmatory study, and\n Shigamabs™, a clinical-stage product for the treatment of STEC-related\n Hemolytic Uremic Syndrome.\"\n\n\nAs part of the transactions, BELLUS Health will receive a cash\n consideration from FB Health, an equity stake in FB Health as well as\n royalties and a share of BLU8499 revenues from Alzheon.\n\n\nVIVIMIND™ Transaction \n\n\nAs part of the transaction, BELLUS Health has licensed the worldwide\n rights to VIVIMIND™ to FB Health S.p.A. (\"FB Health\") for a cash\n consideration of more than $2 million representing a premium of four\n times VIVIMIND™ revenues generated in 2012. The consideration is to be\n paid over the next four years.\n\n\nFB Health is an Italy-based distributor of specialty nutraceutical and\n pharmaceutical products targeting neurologists and geriatricians. FB\n Health has distributed VIVIMIND™ since 2010 and currently represents a\n majority of BELLUS Health's VIVIMIND™ revenues.\n\n\nVIVIMIND™ is a natural health product for memory protection. It is\n currently being distributed by seven partners covering 17 countries.\n\n\nBLU8499 and Tramiprosate Analog Platform Transaction\n\n\nAlzheon, Inc. (\"Alzheon\") of Lexington, Massachusetts, USA, has entered\n into a worldwide license agreement for BLU8499 and a family of analogs,\n alon...