Clinuvel Pharmaceuticals Ltd Message Board

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Biotech / Medical : Clinuvel Pharmaceuticals Ltd

CLVLY 7.350

-2.3%

Oct 31 9:30 AM EST

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From: caly	7/28/2014 12:01:54 PM
	of 52

Clinuvel receives an unsolicited bid for the Company 27Jul2014 Clinuvel Pharmaceuticals Limited (“Clinuvel”; ASX: CUV) received an unsolicited proposal from Retrophin, Inc. (“Retrophin” NASDAQ: RTRX) on July 17, 2014 to acquire all of the shares in Clinuvel for either 0.175 Retrophin shares per Clinuvel share (valued at $2.14 per share based on the one month VWAP of Retrophin shares on 16 July 2014) or $2.17 in cash per share via a scheme of arrangement. The Retrophin bid values Clinuvel at approximately A$95 million2. The proposal is subject to numerous conditions. Retrophin has acquired a stake of approximately 4.88% in Clinuvel. The Board of Directors of Clinuvel is evaluating all aspects of the proposal with a focus on optimising shareholder value. Greenhill is acting as financial adviser and Arnold Bloch Leibler as legal adviser to Clinuvel. Clinuvel shareholders are advised to take NO ACTION with respect to their Clinuvel shares. Clinuvel is in the final stages of the European Medicines Agency (“EMA”) review process for marketing authorisation for SCENESSE® as a treatment for erythropoietic protoporphyria (EPP, orphan indication) in Europe. It is estimated that the final EMA review process will be completed by the end of October 2014. Clinuvel is concurrently undertaking a Phase II clinical trial in Asia to evaluate the use of SCENESSE® as a treatment for vitiligo. SCENESSE® has also been proposed as a therapy in other rare skin diseases, including Hailey-Hailey Disease. Clinuvel is committed to the commercialisation of SCENESSE® as a treatment for EPP and a number of skin diseases with unmet clinical need and, pending EMA approval, Clinuvel is highly confident that it will be in a position to market SCENESSE® throughout Europe in 2015. The Board of Directors will revert with an update at the earliest possible time.

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