LAVAL, QC, July 17 /PRNewswire-FirstCall/ - BELLUS Health Inc. (NASDAQ:BLUS; TSX: BLU, formerly known as Neurochem Inc.) announced today the closingof the acquisition of Innodia Inc. that it had previously announced on July16, 2008.
As a result of this acquisition, BELLUS Health is also announcing a changeat the management level in the field of research. Nigel Levens, Ph.D., ChiefScientific Officer of Innodia Inc. will take on the position of VicePresident, Research at BELLUS Health while Daniel Delorme, Ph.D., BELLUSHealth's current Vice President, Research, will be leaving the Company topursue other interests.
"I am very pleased to welcome Dr. Levens to the Company," said Dr.Francesco Bellini, Chairman, President and CEO of BELLUS Health. "Theexpertise he demonstrated in drug discovery for metabolic diseases at Innodia,will serve us very well at BELLUS Health. I also want to thank Dr. Delorme forhis valuable contribution to the Company during his tenure with us and wishhim great success in his future endeavours."
Dr. Levens brings to the position 27 years of teaching and research in thefield of metabolic and cardiovascular diseases in both Europe and NorthAmerica. Prior to joining Innodia in 2006, he worked as Head of Biology forBiovitrum AB of Sweden, which specializes in metabolic diseases such as TypeII diabetes, obesity, and metabolic syndrome. From 1998-2003, he served asHead of the Division of Metabolic Diseases for the Servier Research Group inFrance and prior to that as Head of Obesity Pharmacology for Novartis Pharmain Basel, Switzerland. Educated in both the United Kingdom and the UnitedStates, Dr. Levens holds a B.Sc. (Hons.) in Physiology and Biochemistry, and aPh.D. in Physiology from the University of Southampton in the United Kingdomand conducted a postdoctoral fellowship in pharmacology at the University ofVirginia.
About BELLUS Health
BELLUS Health is a global health company focused on the development andcommercialization of products to provide innovative health solutions toaddress critical unmet medical needs.
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Certain statements contained in this news release, other than statementsof fact that are independently verifiable at the date hereof, may constituteforward-looking statements. Such statements, based as they are on the currentexpectations of management, inherently involve numerous risks anduncertainties, known and unknown, many of which are beyond BELLUS HealthInc.'s (formerly known as Neurochem Inc.) control. Such risks include but arenot limited to: the impact of general economic conditions, general conditionsin the pharmaceutical and/or nutraceutical industry, changes in the regulatoryenvironment in the jurisdictions in which the BELLUS Health Group doesbusiness, stock market volatility, fluctuations in costs, and changes to thecompetitive environment due to consolidation, that actual results may varyonce the final and quality-controlled verification of data and analyses hasbeen completed, as well as other risks disclosed in public filings of BELLUSHealth Inc. Consequently, actual future results may differ materially from theanticipated results expressed in the forward-looking statements. The readershould not place undue reliance, if any, on any forward-looking statementsincluded in this news release. These statements speak only as of the date madeand BELLUS Health Inc. is under no obligation and disavows any intention toupdate or revise such statements as a result of any event, circumstances orotherwise, unless required by applicable legislation or regulation. Please seethe Annual Information Form of BELLUS Health Inc. for further risk factorsthat might affect the BELLUS