MONTREAL and
BERWIN, Pennsylvania, Feb. 18, 2019 /PRNewswire/ -- Knight
Therapeutics Inc. (TSX: GUD) ("Knight"), a Canadian
specialty pharmaceutical company focused on acquiring,
in-licensing, selling and marketing innovative prescription
pharmaceutical products and Moksha8 Inc. ("Moksha8"), a
specialty pharmaceutical company focused on licensing and marketing
innovative and established therapeutics in Latin America, today announced the closing of
a strategic financing agreement for up to US $125 million.
Under the agreement, Knight will initially lend Moksha8 up to US
$25 million in working capital
funding, of which US $10 million will
be issued at closing. Knight may issue up to an additional US
$100 million in funding for M&A
and the acquisition of new licenses.
"We are thrilled with this partnership," said Joel Barlan, Chief Executive Officer of
Moksha8. "Moksha8 is entering a new era of growth, supported
by both a talented team and significant product
launches. Knight's partnership provides the fuel for
the expansion of our strategy to the next level."
"We are excited to partner with the new Moksha8," said
Jonathan Ross Goodman, Chief
Executive Officer of Knight. "Knight and Moksha8 share the
common vision of bringing much needed therapeutics to underserved
markets such as Canada and
Latin America."
As a result of the deal, Knight has the right to appoint two
observers to Moksha8's Board. "We view the Board
collaboration as a crucial part of the agreement," said
Daniel K. Turner III, founder of
Montreux Equity Partners, Moksha8's majority shareholder.
"Combining Moksha8's deep market and commercial knowledge
with Knight's exceptional track record as a licensee and acquirer
boosts Moksha8's capabilities to new
levels."
Stifel, Nicolaus & Company, Incorporated (NYSE: SF) acted as
financing advisor and exclusive financial agent to Moksha8 for this
transaction.
About Moksha8
Moksha8 is a specialty pharmaceutical
company focused on licensing, marketing and distributing innovative
and established therapeutics in the two largest Latin America markets: Brazil and Mexico. Moksha8 is a Montreux Equity Partners
portfolio company.
About Montreux
Montreux Equity Partners is a private
investment firm focused on making growth capital investments in the
leading companies of tomorrow. Its portfolio companies address the
most compelling trends in global health. The firm is currently
investing out of its sixth fund.
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.
Knight Forward-Looking Statement
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, 2017. 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.
For more information please contact:
Moksha 8
Joel
Barlan
Chief Executive Officer
T: +52 (55) 4431 2933
us.wm@moksha8.com
www.moksha8.com
Knight Therapeutics Inc.
Samira Sakhia
President & Chief Financial Officer
T: 514-678-8930
F: 514-481-4116
ssakhia@gudknight.com
www.gud-knight.com
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SOURCE Moksha8