LAVAL, QC, ROCKVILLE, MD
and CAMBRIDGE, United Kingdom,
Oct. 3, 2019 /CNW Telbec/
- Prometic Life Sciences Inc. (TSX: PLI)
(OTCQX: PFSCF) ("Prometic" or the "Company"), a
biopharmaceutical company focused on developing novel therapeutics
to treat unmet needs in patients with liver, respiratory and kidney
disease, announced results from the special meeting of shareholders
held in Montreal, Quebec, on
October 3, 2019. Shareholders
representing approximatively 87% of votes cast approved a special
resolution authorizing the Company to amend its articles to change
its name to Liminal BioSciences Inc.
"We appreciate the continued support of our shareholders as we
make progress on our focused strategy to build shareholder
value and transition to a new vision and values reflective of
our new name, Liminal BioSciences," stated Kenneth Galbraith, Chief Executive Officer of
the Company.
The effective date of the change of name will be the date of
issuance of a certificate of amendment under the Canada Business
Corporations Act, which we expect to receive shortly. The
Company's new website at www.liminalbiosciences.com will be
launched concurrently.
The Toronto Stock Exchange ("TSX") has accepted notice of
the proposed change of name and the Company's common shares on the
TSX are expected to begin trading under the symbol "LMNL" on or
about Monday, October 7, 2019,
subject to TSX final approval.
As a result of the name change, the Company's CUSIP number for
its common shares will be changed to 53272L103 and its ISIN to
CA53272L1031.
About Prometic
Prometic (www.prometic.com) is an innovative biopharmaceutical
company with a broad pipeline of small molecule therapeutics under
development to treat unmet needs in patients with liver,
respiratory and kidney disease, with a focus on rare or orphan
diseases. Prometic's research involves the study of several
G-protein-coupled-receptors, GPR40 and GPR120, known as free fatty
acid receptors (FFAR's) and a related metabolic receptor, GPR84.
These drug candidates have a novel mechanism of action as agonists
("stimulators") of GPR40 and GPR 120, and antagonists
("inhibitors") of GPR84. Our lead drug candidate, PBI-4050, is
expected to enter Phase 3 clinical studies for the treatment of
Alström Syndrome after further consultation and approval by the FDA
and EMA. A second drug candidate, PBI-4547, is currently in a Phase
1 clinical study.
Prometic also has leveraged its lengthy experience in
bioseparation technologies to isolate and purify biopharmaceuticals
from human plasma. Our lead plasma-derived therapeutic product is
RyplazimTM (plasminogen) for which the Company expects
to file a BLA with the US FDA in the first half of 2020 seeking
approval to treat patients with congenital plasminogen deficiency.
The Company also operates a contract development and manufacturing
operation in the United Kingdom,
deriving revenue through sales of affinity chromatography
media.
Prometic has active business operations in Canada, the United
States, Isle of Man and the
United Kingdom.
Forward Looking Statements
This presentation contains forward-looking statements about
Prometic's objectives, strategies and businesses that involve risks
and uncertainties. These statements are "forward-looking" because
they are based on our current expectations about the markets we
operate in and on various estimates and assumptions. Actual events
or results may differ materially from those anticipated in these
forward-looking statements if known or unknown risks affect our
business, or if our estimates or assumptions turn out to be
inaccurate. Such risks and assumptions include, but are not limited
to, Prometic's ability to develop, manufacture, and successfully
commercialize value-added pharmaceutical products, the availability
of funds and resources to pursue R&D projects, the successful
and timely completion of clinical studies, the ability of Prometic
to take advantage of business opportunities in the pharmaceutical
industry, uncertainties related to the regulatory process and
general changes in economic conditions. You will find a more
detailed assessment of the risks that could cause actual events or
results to materially differ from our current expectations in the
Annual Information Form for the year ended December 31, 2018, under the heading "Risks and
Uncertainties related to Prometic's Business". As a result, we
cannot guarantee that any forward-looking statement will
materialize. We assume no obligation to update any forward-looking
statement even if new information becomes available, as a result of
future events or for any other reason, unless required by
applicable securities laws and regulations.
SOURCE ProMetic Life Sciences Inc.