MONTREAL, QUEBEC--(MARKET WIRE)--Jul 11, 2007 -- Thallion Pharmaceuticals Inc. (Toronto:TLN.TO - News) today announced that it has closed the previously announced sale of an 80 percent stake in the Company’s wholly-owned proteomics business, Caprion Proteomics GP, to a company formed by Great Point Partners, LLC of Greenwich, Connecticut. Thallion will retain a 20 percent equity interest in the newly created company, to be called Caprion Proteomics Inc., with the remaining 80 percent owned by Great Point Partners. The new company will acquire substantially all of Thallion’s proteomics assets including the CellCarta® discovery platform, and will assume $22,150,259 in long-term debt obligations from Thallion without recourse to Thallion. In addition, Caprion Proteomics Inc. will also issue $4,100,000 in secured subordinated notes to Thallion at an interest rate of 9.5% per annum.
