-- Transaction creates strong, diversified rare-disease focused portfolio-- Novelion Therapeutics completes concurrent financing of approximately $22 million -- Company to host conference call today at 4:30 p.m. ET
CAMBRIDGE, Mass. and VANCOUVER, B.C., Nov. 29, 2016 (GLOBE NEWSWIRE) -- Aegerion Pharmaceuticals, Inc. (NASDAQ:AEGR) ("Aegerion") and QLT Inc. (NASDAQ:QLTI) (TSX:QLT) ("QLT") today announced the completion of their merger transaction, as a result of which Aegerion is now an indirect wholly-owned subsidiary of QLT. In conjunction with the closing of the merger, QLT changed its name to Novelion Therapeutics Inc. ("Novelion"). Novelion's common shares will begin trading on The NASDAQ Global Select Market under the symbol NVLN as of market open on November 30, 2016 and on the Toronto Stock Exchange under the symbol NVLN as of market open on or about December 1, 2016. In the interim, Novelion's shares will continue to trade on the NASDAQ Global Select Market under the symbol QLTI and Toronto Stock Exchange under the symbol QLT. "We are pleased to announce the closing of this transaction," said Mary Szela, Chief Executive Officer of Novelion. "We expect that our multi-asset portfolio of approved treatments, coupled with our pipeline, global commercial capabilities, strong intellectual property for our therapies, and improved financial position, will allow Novelion to create significant value for shareholders, while also enabling us to invest for growth. We look forward to executing on our mission of meaningfully impacting the lives of patients suffering from rare diseases."