Medicure Completes Acquisition of Intellectual Property from CanAm Bioresearch

Medicure Inc. has finalized the acquisition of specific intellectual property assets from CanAm Bioresearch Inc., focusing on new chemical entities for therapeutic use. This transaction follows an agreement dated June 24, 2024. Medicure is confident that these new chemical entities could enhance treatments for targeted diseases and add significant value after necessary studies and regulatory approvals.

Medicure paid CanAm $100,000 and has agreed to milestone payments totaling $1,250,000, with additional 10% of net proceeds on future transactions related to the assets, capped at $20,000,000. CanAm can repurchase the assets if Medicure fails to file an IND within seven years.

This related party transaction did not require formal valuation or minority shareholder approval due to specific criteria. A special committee of independent directors reviewed and recommended the transaction, ensuring no conflict of interest.