Nanotechnology Now

Our NanoNews Digest Sponsors
Heifer International



Home > Press > Chivalrous Knight Does Pro Bono

Abstract:
Knight Therapeutics Inc. (TSX:GUD) ("Knight" or the "Company"), a leading Canadian specialty pharmaceutical company, announced today that it has (1) extended a secured loan of US$15 million to Pro Bono Bio PLC ("Pro Bono Bio"), the world's leading healthcare nanotechnology company, and (2) entered into an exclusive distribution agreement with Pro Bono Bio to commercialize its wide range of nanotechnology products, medical devices and drug delivery technologies in select territories.

Chivalrous Knight Does Pro Bono

Montreal, Canada | Posted on June 27th, 2015

The secured loan of US$15 million, which matures on June 25, 2018, will bear interest at 12% per annum plus other additional consideration. The interest rate will decrease to 10% if Pro Bono Bio meets certain equity-fundraising targets. The loan is secured by a charge over the assets of Pro Bono Bio and its affiliates which includes but is not limited to Flexiseq™, an innovative topical pain product that has sales of more than 3 million units since its U.K. launch last year.

As part of the license agreement, Knight obtained the exclusive Quebec and Israeli distribution rights to Pro Bono Bio's innovative Flexiseq™ range of pain relief products and its promising SEQuaderma™ derma-cosmetic range of products, both of which are expected to launch in Quebec within the next 12 months. In addition, Knight obtained the exclusive Canadian and Israeli rights to two earlier stage product groups: blood factor products for the treatment of Hemophiliacs, and diagnostic devices designed for the automated detection of peripheral arterial disease.

John Mayo, Chairman and CEO of Pro Bono Bio, said, "We worked night and day to find a good distribution and strategic partner to help our North American team launch our existing products and drive growth. We welcome the good Knight on our quest to deliver to Canadian and American consumers' best-in-class, drug-free nanotechnology products that are safe, effective and of the highest quality: truly the holy grail!"

"When you donate to charity, you always receive back more than you give. I hope this truism also holds true for this Pro Bono world!" said Jonathan Ross Goodman, President and CEO of Knight. "We look forward to the late 2015 launch of Flexiseq™ and SEQuaderma™ in La Belle Province."

####

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.

About Flexiseq™

Flexiseq™ is a topically applied drug-free gel which is clinically proven to safely relieve the pain and improve the joint stiffness associated with osteoarthritis (OA). Flexiseq™ is unique - it lubricates your joints to address joint damage. Pain is relieved and joint function improved because it lubricates away the friction and associated wear and tear on a user's joints.

About SEQuaderma™

SEQuaderma™ Dermatology Products are a unique range of active dermatology solutions specifically designed to address the symptoms and, in some cases, the causes of the targeted conditions, leading to reduced recurrence. SEQuaderma™ Dermatology Products are suitable for long term use and can be used on their own or in between drug treatments to reduce exposure to adverse events; they will not compromise any other medication and are suitable for those with multiple conditions.

About Pro Bono Bio PLC

Pro Bono Bio PLC is the world's leading healthcare nanotechnology company offering health and lifestyle products, headquartered in London with presence in Europe, Africa and Asia and due to launch in North America.

For more information, please click here

Contacts:
Knight Therapeutics Inc.
Jeffrey Kadanoff, P.Eng., MBA
Chief Financial Officer
514-484-GUD1 (4831)
514-481-4116 (FAX)

Copyright © Marketwire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Flexible electronics integrated with paper-thin structure for use in space January 17th, 2025

‘Brand new physics’ for next generation spintronics: Physicists discover a unique quantum behavior that offers a new way to manipulate electron-spin and magnetization to push forward cutting-edge spintronic technologies, like computing that mimics the human brain January 17th, 2025

Quantum engineers ‘squeeze’ laser frequency combs to make more sensitive gas sensors January 17th, 2025

How a milk component could eliminate one of the biggest challenges in treating cancer and other disease, including rare diseases: Nebraska startup to use nanoparticles found in milk to target therapeutics to specific cells January 17th, 2025

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Graphene Flagship start-up Bedimensional closes a second €10 million investment round February 10th, 2023

180 Degree Capital Corp. Reports +14.2% Growth in Q1 2021, $10.60 Net Asset Value Per Share as of March 31, 2021, and Developments From Q2 2021 May 11th, 2021

180 Degree Capital Corp. Issues Second Open Letter to the Board and Shareholders of Enzo Biochem, Inc. March 26th, 2021

180 Degree Capital Corp. Reports +6.7% Growth in Q4 2020, $9.28 Net Asset Value per Share as of December 31, 2020, and Developments from Q1 2021 Including Expected Investment in a Planned SPAC Sponsor February 22nd, 2021

Nanomedicine

How a milk component could eliminate one of the biggest challenges in treating cancer and other disease, including rare diseases: Nebraska startup to use nanoparticles found in milk to target therapeutics to specific cells January 17th, 2025

Exosomes: A potential biomarker and therapeutic target in diabetic cardiomyopathy November 8th, 2024

NYU Abu Dhabi researchers develop novel covalent organic frameworks for precise cancer treatment delivery: NYU Abu Dhabi researchers develop novel covalent organic frameworks for precise cancer treatment delivery September 13th, 2024

Unveiling the power of hot carriers in plasmonic nanostructures August 16th, 2024

Announcements

Quantum engineers ‘squeeze’ laser frequency combs to make more sensitive gas sensors January 17th, 2025

How a milk component could eliminate one of the biggest challenges in treating cancer and other disease, including rare diseases: Nebraska startup to use nanoparticles found in milk to target therapeutics to specific cells January 17th, 2025

The National Space Society Congratulates SpaceX on Starship’s 7th Test Flight: Latest Test of the Megarocket Hoped to Demonstrate a Number of New Technologies and Systems January 17th, 2025

The National Space Society Congratulates Blue Origin on the Inaugural Flight of New Glenn: The Heavy Lift Reusable Rocket Will Open New Frontiers and Provide Healthy Competition January 17th, 2025

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project