Prometic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) a biopharmaceutical company focused on developing novel therapeutics to treat unmet needs in patients with liver, respiratory and kidney disease, announced results from the special meeting of shareholders held in Montreal, Quebec, on October 3, 2019. Shareholders representing approximatively 87% of votes cast approved a special resolution authorizing the Company to amend its articles to change its name to Liminal BioSciences Inc.
"We appreciate the continued support of our shareholders as we make progress on our focused strategy to build shareholder value and transition to a new vision and values reflective of our new name, Liminal BioSciences," stated Kenneth Galbraith, Chief Executive Officer of the Company.
The effective date of the change of name will be the date of issuance of a certificate of amendment under the Canada Business Corporations Act, which we expect to receive shortly. The Company's new website at www.liminalbiosciences.com will be launched concurrently.
The Toronto Stock Exchange ("TSX") has accepted notice of the proposed change of name and the Company's common shares on the TSX are expected to begin trading under the symbol "LMNL" on or about Monday, October 7, 2019, subject to TSX final approval.
As a result of the name change, the Company's CUSIP number for its common shares will be changed to 53272L103 and its ISIN to CA53272L1031.
About Prometic
Prometic (www.prometic.com) is an innovative biopharmaceutical company with a broad pipeline of small molecule therapeutics under development to treat unmet needs in patients with liver, respiratory and kidney disease, with a focus on rare or orphan diseases. Prometic's research involves the study of several G-protein-coupled-receptors, GPR40 and GPR120, known as free fatty acid receptors (FFAR's) and a related metabolic receptor, GPR84. These drug candidates have a novel mechanism of action as agonists ("stimulators") of GPR40 and GPR 120, and antagonists ("inhibitors") of GPR84. Our lead drug candidate, PBI-4050, is expected to enter Phase 3 clinical studies for the treatment of Alström Syndrome after further consultation and approval by the FDA and EMA. A second drug candidate, PBI-4547, is currently in a Phase 1 clinical study.
