Knight Signs GUD (Bueno) Latin American Strategic Funding Deal with Moksha8
MONTREAL and BERWYN, Pa., Feb. 18, 2019 (GLOBE NEWSWIRE) -- 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 financial advisor and exclusive financing agent to Moksha8 for this transaction.
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 or .
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.
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:
Knight Therapeutics Inc.
Samira Sakhia
President & Chief Financial Officer
T: 514-678-8930
F: 514-481-4116
Moksha8
Joel Barlan
Chief Executive Officer
T: +52 (55) 4431 2933
