Knight Finding NEMO: The Sequel
(firmenpresse) - MONTREAL, CANADA -- (Marketwired) -- 07/02/15 -- Knight Therapeutics Inc. (TSX: GUD) ("Knight"), a leading Canadian specialty pharmaceutical company, announced today that it has entered into an agreement with Sectoral Asset Management Inc. ("Sectoral") to reinvest US$10 million into its New Emerging Medical Opportunities Fund III, Ltd. ("NEMO III") life science fund.
Knight's investment in NEMO III comes on the heels of a recently announced US$13.6 million distribution from Sectoral's last fund, New Emerging Medical Opportunities Fund II, Ltd ("NEMO II"). At the time of the NEMO II distribution, Knight received a full return of its US$11.8 million deployed plus US$1.8 million, representing a 16% return on the capital deployed.
"Our relationship with Sectoral has yielded both a generous financial return and a number of promising leads for Canadian product rights to innovative pharmaceuticals," said Jonathan Ross Goodman, President and CEO of Knight. "We are excited to dive back in with NEMO III."
About Sectoral Asset Management Inc.
Founded in 2000 by Jerome Pfund, CFA and Michael Sjostrom, CFA, Sectoral Asset Management, is an industry-leading specialist in managing global investment portfolios in the healthcare sector. In its small cap strategy, currently managed by Dr. Maha Katabi, CFA, Sectoral has done over 70 different investments, since 2007, in small cap listed and late stage private equity companies in the biotech, medtech and life sciences tools industries, generating a first quartile performance as compared to a late stage private equity peer group over that time period.
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's shares trade on TSX under the symbol GUD. For more information about Knight, please visit the company's web site at or .
Forward-Looking Statement
This document contains forward-looking statements for Knight 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 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 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's Annual Report and in Knight's Annual Information Form for the year ended December 31, 2014. Knight 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.
Contacts:
Knight Therapeutics Inc.
Jeffrey Kadanoff, P.Eng., MBA
Chief Financial Officer
Tel: 514-484-GUD1 (4831)
514-481-4116 (FAX)
Email:
Website:
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Datum: 02.07.2015 - 12:00 Uhr
Sprache: Deutsch
News-ID 404442
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contact information:
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MONTREAL, CANADA
Kategorie:
Drugs
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