Medicure Announces Acquisition Agreement with CanAm Bioresearch Inc.

WINNIPEG, MB / ACCESSWIRE / June 24, 2024 / Medicure Inc. ("Medicure") (TSXV:MPH)(OTC PINK:MCUJF) has signed an asset purchase agreement with CanAm Bioresearch Inc. ("CanAm"). The agreement involves acquiring patents and intellectual property for new chemical entities with therapeutic potential.

Medicure aims for these entities to enhance treatment options for targeted diseases. The new compounds will not affect Medicure's ongoing Phase 3 study on pyridox(am)ine 5'-phosphate oxidase deficiency. Under the deal, Medicure will pay CanAm an initial $100,000, followed by milestone payments totaling $1.25 million.

Additionally, Medicure will pay CanAm 10% of proceeds from transactions involving the acquired assets, capped at $20 million. CanAm can also bid for research services if Medicure engages a contract research organization (CRO).

If an investigational new drug application (IND) isn't filed within seven years, CanAm can repurchase the assets, reimbursing Medicure's development expenses up to $6.5 million. The transaction's completion requires regulatory approvals and intellectual property filings.