MONTREAL, Canada, September 2, 2014 – Knight Therapeutics Inc. (TSX:GUD) (“Knight”), a leading Canadian specialty pharmaceutical company, announced today that it has entered into an asset purchase agreement with Orphan Canada Inc. (“Orphan”) related to the Canadian rights for ATryn® and PHOTOFRIN® (porfimer sodium), two innovative pharmaceutical products approved for sale in multiple jurisdictions. Orphan is a privately-held, Toronto-based specialty pharmaceutical company that in-licenses therapies for rare disorders and specialty medicines for the Canadian market.
As part of the agreement, Jason Flowerday and Joost van der Mark, the founders of Orphan, will join the Knight leadership team; Jason as the Vice President Commercial Operations and Joost as Vice President Corporate Development. “Joost and I are excited to bring our combined experience of 40 years in the pharmaceutical industry to Knight.” said Jason Flowerday, Chief Commercial Officer of Orphan. “We are proud of this agreement which marks the beginning of a relationship with Knight where we will work together to bring innovative products to the Canadian market.”
Also in connection with the agreement, Bourne Partners (“Bourne”), a leading healthcare-focused merchant banking firm and co-founders of Orphan Canada with Jason and Joost, has been engaged by Knight to assist with its corporate development efforts. “We are pleased to assist Knight in its quest to become Canada’s leading specialty pharmaceutical company,” said Banks Bourne, CEO of Bourne Partners.
When commenting on the overall agreement, Jonathan Ross Goodman, CEO of Knight, stated, “With this transaction, Knight has established its first product offering in Canada, significantly increased the size and experience of its leadership team, and expanded its business development reach.”