Prometic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) (‘ Prometic ‘ or ‘ Company ‘), a biopharmaceutical company focused on developing new therapies for the treatment of unmet needs in patients with liver, respiratory and kidney disease, announced the results of a special shareholder meeting held in Montreal, Quebec on 3 October 2019. A special resolution authorizing the Company to amend its papers and change its name to Liminal BioSciences Inc was approved by investors representing approximately 87 percent of the cast votes.
The effective date of the name change will be the date of issuance of an amendment certificate under the Canada Business Corporations Act, which we expect to receive shortly. The new website of the company will be launched at www.liminalbiosciences.com at the same time.
The Toronto Stock Exchange (“TSX”) has approved the proposed name change and the Company’s common shares on the TSX are expected to start trading on or about Monday, October 7, 2019, under the symbol “LMNL,” subject to final approval by TSX.
The name change would change the CUSIP number of the Company for its common shares to 53272L103 and its ISIN to CA53272L1031.
Prometic (www.prometic.com) is a groundbreaking biopharmaceutical company with a wide range of small molecule drugs under development to address unmet needs for patients with liver, respiratory and kidney disease. The work carried out by Prometic includes the study of several G-protein-coupled receptors, GPR40 and GPR120, identified as free fatty acid receptors (FFARs) and a similar metabolic receptor, GPR84. Both drug candidates have a different mechanism of action as GPR40 and GPR 120 agonists (“stimulators”) and GPR84 (“inhibitors”) antagonists. After further review and approval by the FDA and EMA, our lead drug candidate, PBI-4050, is expected to enter clinical Phase 3 trials for the treatment of Alström Syndrome. A second candidate for the drug, PBI-4547, is currently in a clinical Phase 1 trial.