Click here to read the full press release. Source: Market Wired – July 8, 2015
Knight Therapeutics Inc. (TSX:GUD) (“Knight”), a leading Canadian specialty pharmaceutical company, announced today that it has invested in the Bloom Burton Healthcare Lending Trust (the “Trust”) managed by Stratigis Capital Advisors Inc. Knight subscribed for $500,000 Trust units as part of a $15.9 million private placement. The Trust will use the proceeds to invest in debt and debt-like securities of emerging commercial-stage public and private Canadian healthcare companies that have been overlooked by traditional lenders.
“Our lending strategy is paying dividends. To date, Knight’s approximately CAD$75 million invested on a fully-secured basis has yielded a double digit return and, more importantly, secured the exclusive distribution rights to 7 innovative pharmaceutical products, OTC offerings, and medical devices in Canada and select international markets,” said Jonathan Ross Goodman, President and CEO of Knight. “We expect that this new investment will lead to additional secured lending opportunities with product rights for Knight.”
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 www.gud-knight.com or www.sedar.com.
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.