Business
BELLUS Health reports results for second quarter ended June 30, 2013
- KIACTA™ intellectual property position further strengthened by granting of new US pa...
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n- KIACTA™ intellectual property position further strengthened by\n granting of new US patent -\n\n\nLAVAL, QC, Aug. 7, 2013 /CNW/ - BELLUS Health Inc. (TSX: BLU) (\"BELLUS\n Health\" or the \"Company\") today reported its financial results for the\n second quarter ended June 30, 2013.\n\n\nSecond Quarter 2013 Highlights \n\n\n\nAnnounced an agreement to acquire all outstanding common shares of\n Thallion Pharmaceuticals Inc. (TSXV: TLN) (\"Thallion\"). On closing,\n transaction will strengthen the Company's cash position by more than\n $1.1 million and add a clinical stage drug candidate in a rare disease\n indication. Transaction is expected to close on or before August 20,\n 2013;\n\n\n\n\nRecruitment continued for the Phase III Confirmatory Study for KIACTA™\n for the treatment of AA amyloidosis;\n\n\n\n\nKIACTA™ intellectual property further strengthened through the issuance\n of a US patent expiring in 2026;\n\n\n\n\nKIACTA™ granted Orphan Disease Drug Status in Japan. Japanese drug\n development grant also received for KIACTATM;\n\n\n\n\nRecommendation of the Data and Safety Monitoring Board to continue\n KIACTA™ Phase III Confirmatory Study as per protocol, based on last\n review;\n\n\n\n\nSettled one of its credit facilities, leading to estimated savings of\n more than $200,000 in future interest payments;\n\n\n\n\nConcluded the quarter with a cash position of $15.7 million, enabling\n the Company to finance its operations through the end of KIACTA™ Phase\n III Confirmatory Study, expected in 2017.\n\n\n\n\n\n\n\n\"During the second quarter, we announced an agreement to acquire\n Thallion, which will strengthen our balance sheet and further diversify\n our orphan drug pipeline through the addition of Shigamabs®, a\n clinical-stage drug candidate for the treatment of Hemolytic Uremic\n Syndrome,\" said Roberto Bellini, President and Chief Executive Officer\n of BELLUS Health. \"Following this transaction, our asset base will\n include a late-stage orphan drug pipeline and the financial resources\n with which to continue developing our assets and build further value in\n the Company.\"\n\n\nAcquisition Agreement with Thallion\n\n\nOn June 18, 2013, the Company announced that it had entered into an\n agreement with Thallion to acquire all of its outstanding common shares\...