MONTREAL, CANADA–(Marketwired – Aug 24, 2015) – Knight Therapeutics Inc. (TSX:GUD) (“Knight” or the “Company”), a leading Canadian specialty pharmaceutical company, announced today that it has received a further distribution of US$1.5 million related to its investment in Sectoral Asset Management Inc.’s New Emerging Medical Opportunities Funds II, Ltd. (“NEMO II”) following the US$13.6 million distribution announced by Knight in June 2015.
Since June 2014, Knight has contributed US$12.6 million into NEMO II and has received distributions totaling US$15.1 million. Knight’s estimated remaining position in NEMO II is currently valued at more than US$5.5 million. The fund will continue to manage the remaining assets over the course of the fund life through 2018.
“Knight’s diversified portfolio of life sciences fund investments in time-proven successful funds represents one of our strategies that uniquely positions Knight to deliver near term shareholder value while patiently accumulating Canada’s deepest and broadest specialty pharmaceutical product pipeline,” said Jonathan Ross Goodman, President and CEO of Knight.
About Sectoral Asset Management Inc.
Founded in 2000 by Jérôme Pfund, CFA and Michael Sjöström, 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 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 the Company 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. The Company 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 the Company 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 the Company’s Annual Report and in the Company’s Annual Information Form for the year ended December 31, 2014. The Company 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.