BELLUS Health Closes $35M Financing to Support Development of its Lead Drug Candidate BLU-5937 for Chronic Cough

BELLUS Health (TSX:BLU) a clinical-stage biopharmaceutical company, today announced that it has closed an equity offering, issuing a total of 36,842,105 common shares for gross proceeds of $35 million.

As quoted in the press release:

The Offering was led by OrbiMed and also included New Leaf Venture Partners, First Manhattan Co., Samsara BioCapital, Fonds de solidarité FTQ, AppleTree Partners and Amzak Health. In connection with the financing, Mr. Chau Q. Khuong, Partner at OrbiMed, has joined the Company’s Board of Directors.

“This financing culminates a transformational year for BELLUS Health during which we also delivered positive Phase 1 data for our lead drug candidate, BLU-5937, for chronic cough,” said Roberto Bellini, President and CEO of BELLUS Health. “We are pleased to have the support and confidence of this high-quality group of healthcare-focused investors. This funding will enable us to advance the clinical development of BLU-5937 as expeditiously as possible. Accordingly, we look forward to initiating our Phase 2 study in chronic cough patients in mid-2019.”

“BELLUS Health has an innovative scientific platform and its potential best-in-class P2X3 antagonist, BLU-5937, holds significant promise for patients afflicted with chronic cough,” said Mr. Khuong, Partner at OrbiMed. “We are excited to work with the Company’s Board of Directors and management team to move BLU-5937 forward in clinical development and to continue driving value for BELLUS Health and its stakeholders.”

Click here to read the full press release.