In conjunction with the closing of the merger, a broad-based investor syndicate, including Deerfield, Armistice Capital, Broadfin Capital, Healthcare Value Capital, JW Asset Management, K2 & Associates Investment Management, Sarissa Capital, Jason Aryeh, and Tiger Legatus Capital Management, invested approximately $22 million in QLT. Novelion has an unrestricted cash balance of over $100 million to support future operations and potential targeted business development initiatives.The holders of shares of Aegerion common stock outstanding immediately prior to the merger will receive, as merger consideration, 1.0256 Novelion common shares in exchange for each share of Aegerion common stock held. Novelion will operate mainly under the leadership of Aegerion's management team prior to the merger, including Mary Szela as Chief Executive Officer, Gregory Perry as Chief Financial and Administrative Officer, and John Orloff as Executive Vice President, Head of Research and Development. The newly constituted Board of Directors is comprised of ten members - four Aegerion designees, four QLT designees, one designee from Broadfin Capital and one designee from Sarissa Capital Management. Novelion's principal headquarters are located in Vancouver, British Columbia, with business operations in Cambridge, Massachusetts. Financial Guidance
- Expect full year 2016 global net product sales for JUXTAPID® and MYALEPT® to be between $145 and $150 million.
- Expect to provide Novelion's full year 2017 financial guidance in early January.
- Expect to submit a marketing authorization application for metreleptin as a potential treatment for GL and a subset of partial lipodystrophy patients in the EU in the fourth quarter of 2016.
- Following regulatory and pricing approval for JUXTAPID in Japan for the treatment of homozygous familial hypercholesterolemia (HoFH), we expect to launch in January 2017.
CONTACT: Amanda Murphy, Associate Director, Investor & Public Relations 857-242-5024 Amanda.Murphy@aegerion.com