MONTREAL, June 18, 2019 — Knight Therapeutics Inc. (TSX:GUD) (“Knight”), a leading Canadian specialty pharmaceutical company, announced today that Medimetriks Pharmaceuticals Inc. (“Medimetriks”) has prepaid the remaining US$750 thousand balance of Knight’s US$23 million secured strategic loan issued in 2016.
Knight has generated over US$8.7 million from interest and fees from the strategic loan since February 2016, representing a pre-tax internal rate of return of approximately 20%. In addition, Knight continues to own 19% of Medimetriks’ common shares outstanding and remains Medimetriks’ exclusive distribution partner in Canada and select international markets for future products acquired or in-licensed by Medimetriks.
“We are pleased with the healthy returns we generated for our shareholders while adding strategic value to our partner Medimetriks,” said Jonathan Ross Goodman, Chief Executive Officer of Knight. “Our strategic partnership expanded Medimetrik’s product pipeline with the in-licensing of an innovative asset now ready for phase 3 pivotal trials.”
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 Therapeutics Inc.’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.gudknight.com or www.sedar.com.
This document contains forward-looking statements for Knight Therapeutics Inc. 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 Therapeutics Inc. 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 Therapeutics Inc. 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 Therapeutics Inc.’s Annual Report and in Knight Therapeutics Inc.’s Annual Information Form for the year ended December 31, 2018. Knight Therapeutics Inc. 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.