VANCOUVER, BC, June 15, 2020 /CNW/ - Correvio Pharma Corp. ("Correvio" or the "Company") is providing an update on material business developments of the Company in accordance with Section 10(2) of the British Columbia Securities Commission blanket order BCI 51-515 - Temporary Exemption from Certain Corporate Finance Requirements.
The Company announced on May 4, 2020, that it had postponed the reporting of its financial statements and management discussion and analysis in respect of the first quarter ended March 31, 2020 (the "2020 Disclosure"). Since May 4, 2020 there have been the following material business developments:
- On May 15, 2020, the Company announced that its securityholders had voted to approve its previously announced plan of arrangement ("Arrangement") among the Company, ADVANZ PHARMA Corp. Limited ("ADVANZ PHARMA"), and a wholly owned subsidiary of ADVANZ PHARMA Corp. Limited.
- The final order in respect of the Arrangement was granted by the Supreme Court of British Columbia on May 21, 2020.
- On May 27, 2020, the Company closed the Arrangement. The Company is now a wholly owned subsidiary of ADVANZ PHARMA.
- On May 29, 2020, the Company was delisted from the Toronto Stock Exchange and on June 6, 2020 the Company was delisted from the NASDAQ Capital Market.
About Correvio Pharma Corp.
Correvio Pharma Corp. is a specialty pharmaceutical company focused on providing innovative, high-quality brands that meet the needs of acute care physicians and patients. With a commercial presence and distribution network covering over 60 countries worldwide, Correvio develops, acquires and commercializes brands for the in-hospital, acute care market segment. The Company's portfolio of approved and marketed brands includes: Xydalba™ (dalbavancin hydrochloride), for the treatment of acute bacterial skin and skin structure infections (ABSSSI); Zevtera®/Mabelio® (ceftobiprole medocaril sodium), a cephalosporin antibiotic for the treatment of community- and hospital-acquired pneumonia (CAP, HAP); Brinavess® (vernakalant IV) for the rapid conversion of recent onset atrial fibrillation to sinus rhythm; Aggrastat® (tirofiban hydrochloride) for the reduction of thrombotic cardiovascular events in patients with acute coronary syndrome. Correvio's pipeline of product candidates includes Trevyent®, a drug device combination that is designed to deliver treprostinil, the world's leading treatment for pulmonary arterial hypertension.
Correvio® and the Correvio Logo are the proprietary trademarks of Correvio Pharma Corp. Aggrastat® and Brinavess™® are trademarks owned by Correvio and its affiliates worldwide. Xydalba™ is a trademark of Allergan Pharmaceuticals International Limited, and used under license. Zevtera® and Mabelio® are trademarks owned by Basilea Pharmaceutica International Ltd., and used under license.
Trevyent® is a trademark of United Therapeutics Corporation and used under license.
SOURCE ADVANZ PHARMA Corp.