MONTREAL, QUEBEC--(Marketwire - December 09, 2008) - Thallion Pharmaceuticals Inc. (TSX: TLN) today announced that it is reviewing its strategic alternatives, including, but not limited to, a sale of the Company and has engaged Desjardins Securities as financial advisor to assist the Company in evaluating and considering such alternatives and their potential for enhancing shareholder value.
The review was precipitated by the receipt of an expression of interest by an un-named pharmaceutical company to purchase all of the outstanding shares of the company. The Board of Directors of Thallion established a committee of independent directors to oversee the review process and make recommendations to the Board. The Company emphasized that there can be no assurance that any transaction or other alternative will ultimately be completed.
About Thallion Pharmaceuticals Inc.
Thallion Pharmaceuticals Inc. (TSX: TLN) is a biotechnology company developing pharmaceutical products in the areas of oncology and infectious disease. Thallion has three clinical programs at the Phase II stage of development. The two oncology product candidates include TLN-4601, a novel anti-cancer therapy targeting the RAS-MAPK pathway, and TLN-232, a peptide therapy targeting the M2 isoform of the metabolic enzyme pyruvate kinase (M2PK), with potential efficacy in multiple oncology indications. TLN-4601 and TLN-232 are currently recruiting patients in their respective multi-centre, Phase II, North American clinical trials with interim results expected in H1 2009. The Company’s third product candidate, Shigamabs®, is a dual antibody product for the treatment of Shigatoxin®producing E. coli bacterial infections. Additional information about the Company can be obtained at www.thallion.com.
Forward-Looking Statements
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect” and other similar expressions which constitute “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time-to-time in the Company’s ongoing filings with the Canadian securities regulatory authorities which filings can be found at www.sedar.com. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable Canadian securities laws.
Contacts:
Thallion Pharmaceuticals Inc.
Michael Singer
Chief Financial Officer
514-940-3600
514-228-3622 (FAX)
info@thallion.com
www.thallion.com
The Equicom Group Inc.
Ross Marshall
Investor Relations
416-815-0700 (Ext. 238)
416-815-0080 (FAX)
rmarshall@equicomgroup.com
