BELLUS HEALTH AND FB HEALTH ENTER AGREEMENT FOR BELLUS' VIVIMIND™ IN
ITALY
FB Health to move rapidly to launch VIVIMIND™ in Italy
LAVAL, QC, Oct. 19 /CNW Telbec/ - BELLUS Health Inc. (TSX: BLU) through its subsidiary, BELLUS Health (International) Limited ("BELLUS Health"), and FB Health LLC ("FB Health"), announced today that they have signed a license and supply agreement (the "Agreement") relating to BELLUS Health's VIVIMIND™, a patented natural health product that has been shown to protect memory function.
Pursuant to the Agreement, BELLUS Health is granting FB Health exclusive distribution rights for VIVIMIND™ in Italy, for a consideration consisting of an upfront payment and up to €3 million (approximately CAN$5 million) in commercial milestone payments should certain mutually agreed upon sales targets be achieved. The Agreement also provides for BELLUS Health to supply the product to FB Health at a pre-agreed transfer price. Regulatory approval for the sale of VIVIMIND™ in Italy for memory function protection and the maintenance of cognitive health was granted in 2009. FB Health intends to move rapidly to launch VIVIMIND™ and make the product available to Italian consumers before the end of the year.
"We are pleased with this first international transaction, which enables us to expand VIVIMIND™'s market abroad," said Roberto Bellini, President and Chief Executive Officer of BELLUS Health. "This transaction fits within our strategy of identifying strong partners to develop and/or commercialize our key products. The FB Health team has a deep knowledge of the Italian market and we are looking forward to collaborating with them" he added. "This partnership is a model for VIVIMIND™ that we are looking to reproduce in other territories worldwide," Mr. Bellini concluded.
FB Health is a newly created Italian nutraceutical company formed by a group of individuals with a solid expertise in the nutraceutical, biotechnology and pharmaceutical industry, including Dr. Francesco Bellini, a pioneer of the Canadian biopharmaceutical industry, Mr. Federico De Grossi, a seasoned executive with over 30 years of management experience in multinational companies, including an important Italian specialty pharmaceutical group, and Dr. Giovanni Scapagnini, MD, PhD, a professor and established scientist specialized in neurology, brain aging and neurodegenerative disorders.
"FB Health aims at establishing a dominant position in cognitive health nutraceuticals in Italy. VIVIMIND™, which is scientifically proven to have positive effects on brain structure and memory functions, is an ideal addition to our product portfolio. We are looking forward to bringing VIVIMIND™ to Italian consumers in the near future and achieve full commercialization in Italy," said Mr. Federico De Grossi, Director, Sales and Marketing at FB Health.
About VIVIMIND™
VIVIMIND™ is scientifically proven to help support the specific area of the brain known as the hippocampus, a region responsible for memory and learning. The active ingredient behind VIVIMIND™, homotaurine, is a naturally occurring amino acid with unique properties found in certain seaweed. VIVIMIND™ is intended to be used in normal aging adults.
VIVIMIND™ was subject to over 15 years of significant scientific research, including clinical testing in over 2,000 individuals in European, American and Canadian medical centers. In a large controlled clinical study, VIVIMIND™ was shown to reduce by 68% the hippocampus volume loss in Alzheimer's disease patients over 18 months.1 Regulatory approvals for the commercial sale of VIVIMIND™ were obtained in Italy and in Spain in 2009, and a Natural Health Product Number was issued by Health Canada for VIVIMIND™ in September of 2010.
1 Gauthier S. et al, Journal Nutrition Health Aging, 2009; 13 (6): 550-7.
About FB Health
FB Health is a nutraceutical company engaged in the commercialization of innovative products for the prevention and treatment of pathologies affecting elderly people, with a focus on neurology and geriatrics. FB Health's commitment to address elderly people's particular needs is embedded in its culture and reflected in activities undertaken by the company, from strategic development to operations.
About BELLUS Health
BELLUS Health is a development-focused health company concentrating on research and development of products that provide innovative health solutions and address critical unmet medical needs. For further information, please visit www.bellushealth.com.
Forward Looking Statements
Certain statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, may constitute forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown, many of which are beyond BELLUS Health Inc.'s control. Such risks include but are not limited to: the impact of general economic conditions, general conditions in the pharmaceutical and/or nutraceutical industry, changes in the regulatory environment in the jurisdictions in which the BELLUS Health Group does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation, that actual results may vary once the final and quality-controlled verification of data and analyses has been completed, as well as other risks disclosed in public filings of BELLUS Health Inc. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. The reader should not place undue reliance, if any, on any forward-looking statements included in this news release. These statements speak only as of the date made and BELLUS Health Inc. is under no obligation and disavows any intention to update or revise such statements as a result of any event, circumstances or otherwise, unless required by applicable legislation or regulation. Please see the Annual Information Form of BELLUS Health Inc. for further risk factors that might affect the BELLUS Health Group and its business.
For further information:
Anne-Marie Durand
NATIONAL Public Relations
514-843-2319
[email protected]
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