MONTREAL, QUEBEC--(Marketwired - Mar 28, 2017) - Knight Therapeutics Inc. (GUD.TO) ("Knight"), a leading Canadian specialty pharmaceutical company, announced today that it has assigned its secured loan issued to Pro Bono Bio PLC ("Pro Bono Bio") and has received full repayment of the balance.
Knight generated US$3.3 million from interest and fees from the loan since June 2015, representing a 14% pre-tax internal rate of return. Knight continues to hold the Quebec and Israeli distribution rights to Pro Bono Bio's innovative FLEXISEQ™ range of drug-free pain relief products, as well as the Canadian and Israeli rights to several earlier stage product groups.
"We pride ourselves on our ability to add strategic value to our secured loan partners," said Jonathan Ross Goodman, CEO of Knight. "Knight's support facilitated Pro Bono Bio's product pipeline advancement and allowed them to expand FLEXISEQ™ distribution into new markets."
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutics Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.gud-knight.com or www.sedar.com.
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2016. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.