Liminal BioSciences Inc. has received the final order from the Ontario Superior Court of Justice approving the previously-announced plan of arrangement under the Canada Business Corporations Act. The plan of arrangement involves the acquisition of Liminal BioSciences by Structured Alpha LP (SALP), a limited partnership managed by Thomvest Asset Management Ltd. SALP will acquire all of the issued and outstanding common shares of Liminal BioSciences that are not currently owned by SALP or its affiliates and associates.
The arrangement was approved by Liminal BioSciences shareholders at a special meeting held on September 15, 2023. The completion of the arrangement is expected to take place on or about September 26, 2023, subject to the satisfaction or waiver of certain customary conditions precedent.
Liminal BioSciences is a biopharmaceutical company focused on the discovery and development of small molecule therapeutics that modulate G protein-coupled receptors (GPCR) pathways. The company’s pipeline consists of three programs, including LMNL6511, a selective antagonist for the GPR84 receptor, which is expected to enter Phase 1 clinical trials in the second half of 2023. Liminal BioSciences also has programs targeting the OXER1 receptor and GPR40 agonists.
Structured Alpha LP is a limited partnership managed by Thomvest Asset Management Ltd. and its affiliates, which make investments on behalf of Peter J. Thomson and his family.
This acquisition will allow Liminal BioSciences to further its research and development efforts and expand its pipeline of therapeutics for the treatment of metabolic, inflammatory, and fibrotic diseases.
Sources: Liminal BioSciences Inc., PR Newswire