BELLUS Health: Rises on deal to acquire IP rights to cough drug

BELLUS Health

23/03/2020 18:13

** U.S.-listed shares of BELLUS Health  BLU.TO  rise 15.4%
to $9.25
    ** Co enters into an asset purchase and sale agreement to
acquire all of remaining intellectual property rights to
BLU-5937 from Canada-based adMare BioInnovations  urn:newsml:reuters.com:*:nBw3m6VKga
    ** BLU-5937 is P2X3 antagonists being developed for
treatment for chronic cough and itch; P2X3 is a key sensory
receptor, responsible for irritation and pain
    ** BLU is terminating its 2017 license agreement and will
own 100% of BLU-5937 assets; co will no longer owe any royalties
or future payments to adMare
    ** 4.77 mln BELLUS Health common shares to be issued in
consideration of deal
    ** U.S.-listed shares have risen ~21.7% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))