MONTREAL, QUEBEC–(Marketwired – Oct. 28, 2014) – Knight Therapeutics Inc. (TSX:GUD) (“Knight”), a leading Canadian specialty pharmaceutical company, announced today that it has invested CAD$30 million into Teralys Capital Innovation Fund LP (“Teralys Fund”). This investment in another proven successful life science fund complements Knight's USD$13 million investment in Sectoral and EUR19.5 million investment in Forbion.
Teralys Fund is managed by Teralys Capital (“Teralys”). Teralys is the largest venture capital fund of funds manager dedicated to technologies and life sciences in Canada, having CAD$1.3 billion in assets under management with a significant focus on the North American life sciences sector.
“These three funds have combined assets under management in healthcare of approximately CAD$5 billion and have an ability and motivating incentives to leverage their existing relationships with key life science companies to help secure Canadian product rights for Knight,” said Jonathan Ross Goodman, President and CEO of Knight. “We have now committed approximately $70 million of the $130 million we intend to invest into this strategy.”
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 world markets. Knight's shares began trading on TSX-V on March 3, 2014 and graduated to TSX on April 29, 2014 under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's website at www.gud-knight.com or at www.sedar.com.
About Teralys Capital
Teralys Capital is a fund of funds manager created to finance private venture capital funds focused on investing in life sciences, information technology and cleantech companies. Teralys Capital is currently managing a $600 million fund sponsored by Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ and Investissement Québec. Teralys Capital is also managing two existing portfolios of venture capital funds with additional assets under management of over $600 million. Visit www.teralyscapital.com for more information.
Knight Therapeutics Forward-Looking Statement
This press release may contain forward-looking statements and predictions. 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 that these assumptions regarding the 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 final application for listing on the TSX Venture Exchange and in two short form prospectuses which can be found on SEDAR at www.sedar.com, which investors should consult for additional information. 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.