CALGARY, Alberta, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) announced today that it has repaid, in full, its CAD$68.8 million Loan (the Loan ). Upon repayment of the Loan, the Company has no outstanding long-term debt.
Mr. Donald McCaffrey, President and CEO commented, "Retiring the Loan in its entirety significantly strengthens Resverlogix s financial position and increases our degrees of freedom as we move forward. We would like to thank Eastern Capital for its support in providing the letter of credit, which secured the Loan at a very favourable rate. This attractive financing permitted us to significantly advance the development of apabetalone (RVX-208), including the launch of the Phase 3 trial BETonMACE."
Resverlogix is developing apabetalone (RVX-208), a first-in-class, small molecule that is a selective BET (bromodomain and extra-terminal) inhibitor. BET bromodomain inhibition is an epigenetic mechanism that can regulate disease-causing genes. Apabetalone is the first and only BET inhibitor selective for the second bromodomain (BD2) within the BET protein called BRD4. This selective inhibition of apabetalone on BD2 produces a specific set of biological effects with potentially important benefits for patients with high-risk cardiovascular disease (CVD), diabetes mellitus (DM), chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases, while maintaining a well described safety profile. Apabetalone is the only selective BET bromodomain inhibitor in human clinical trials. Apabetalone is currently being studied in a Phase 3 trial, BETonMACE, in high-risk CVD patients with type 2 DM and low high-density lipoprotein (HDL), and is expected to be initiated in a Phase 2a kidney dialysis trial designed to evaluate biomarker changes and safety parameters in up to 30 patients with end-stage renal disease treated with hemodialysis.
Resverlogix common shares trade on the Toronto Stock Exchange (TSX:RVX).
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