It was acquired by Bellus for peanuts.
BRIEF-Bellus Health and the NEOMED Institute announce agreement for development of treatment for chronic cough
Feb 28, 2017, 8:13 AM PST
* Bellus Health and the NEOMED Institute announce an exclusive worldwide license agreement for the development of a treatment for chronic cough
* Under terms of agreement, Bellus Health will pay neomed an upfront fee of cad $3.2 million
* Upfront fee consists of CAD $1.7 million in cash and CAD $1.5 million with 5.8 million bellus health common shares
* As per agreement, NEOMED will be entitled to receive a royalty on net sales-based revenues