APRIL 5 2012 - PHARMASCIENCE ENTERS IN A STRATEGIC PARTNERSHIP WITH BELLUS HEALTH
On April 5th 2012, Pharmascience Inc has proudly entered into a strategic partnership and financing with Bellus Health ("Bellus"), a public company, whereby Pharmascience will own over 10% of Bellus. This partnership will benefit Pharmascience and Bellus in their own future goals.
Bellus is a development-focused healthcare company concentrating on products that provide innovative health solutions and address critical unmet medical needs. Bellus, in collaboration with its partner, Celtic Therapeutics, is currently advancing its novel drug candidate KIACTA, through phase III trials for treatment of AA Amyloidosis, an orphan indication resulting in renal dysfunction that often rapidly leads to dialysis and eventually death. AA Amyloidosis affects approximately 50,000 individuals in the United States, Europe and Japan.
"As the largest generic pharmaceutical company in Quebec, we are actively looking for opportunities to strategically build our exposure to innovative development pipelines," said David Goodman, CEO of Pharmascience. "With this partnership, Bellus emerges as a well-funded, late-stage company and we look forward to collaborating with them on drug development programs of mutual interest."
This partnership reinforces Pharmascience?s commitment to grow its business, both locally and internationally.
To learn more about this strategic partnership please read Bellus Health's official press release here.
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