Bellus Health to Acquire Thallion Pharmaceuticals

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LAVAL, QC, June 18, 2013 – Inc. (TSX: BLU) (“ Health”) and Inc. (“Thallion”) (TSXV: TLN) announced today that BELLUS Health has agreed to Thallion for approximately $ 6.332 million in cash, or $ 0.1765 per share (on a fully-diluted basis), subject to certain adjustments as described below, and the issuance of contingent value rights (“CVRs”), which will entitle the holders thereof to additional payments of up to approximately $ 7.66 million, or $ 0.2135 per CVR, if certain product revenue milestones are achieved and a future receivable is collected.

“This non-dilutive transaction will strengthen our pipeline through the addition of a Phase II drug candidate,” said Roberto Bellini, CEO of BELLUS Health. “We are excited about the opportunity to continue developing Shigamabs® while leveraging our expertise in the kidney and rare disease areas.”

Thallion is developing Shigamabs®, a monoclonal antibody therapy being evaluated for the treatment of Shiga toxin-producing E. coli (“STEC”) bacterial infections. STEC infections can lead to hemolytic uremic syndrome (HUS), a condition principally affecting the kidneys and that often leads to dialysis and in certain cases death.

BELLUS Health’s lead program is KIACTA™, a drug candidate currently in a Phase III Confirmatory Study for the treatment of AA amyloidosis, a rare disease resulting in kidney dysfunction that often rapidly leads to dialysis and death.

“The proposed transaction is the result of the strategic review process of all available alternatives for Thallion and its shareholders previously announced in February 2013.  We believe that the proposed transaction provides a favourable outcome for our shareholders with a significant premium over our current share price and an additional opportunity to participate in future revenues that may be generated from Shigamabs® under the terms of the CVRs.” said Dr. Allan Mandelzys, CEO of…Read more

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