Novelion Therapeutics Inc. (NASDAQ:NVLN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Novelion Therapeutics Inc. (NASDAQ:NVLN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

Appointment of Dr. Mark Corrigan
>>>>>>>>>>>>>On March 30,
2017, the Board of Directors (the Board) of Novelion Therapeutics
Inc. (the Company) increased the number of directors of the Board
from ten to eleven and appointed Mark H.N. Corrigan, M.D. to
serve as a director. As with the Companys other directors, Dr.
Corrigans current term will expire at the Companys 2017 Annual
General Meeting of Shareholders. The Board has also appointed Dr.
Corrigan to serve as a member of the Compliance Committee.
>>>>>>>>>>>>>>>>>Dr.
Corrigan, 59, currently serves on the board of directors of
Cardiome Pharma Corp. (a public cardiovascular therapeutics
company) and the supervisory board of Nabriva Therapeutics AG (a
public biopharmaceutical company). From 2015 to March 2017, Dr.
Corrigan served as a director of CoLucid Pharmaceuticals, Inc. (a
public biopharmaceutical company), prior to its acquisition by
Eli Lilly and Company. From 2014 to 2016, Dr. Corrigan served as
chairman of the board of directors of EPIRUS Biopharmaceuticals,
Inc. (EPIRUS). Prior to that, Dr. Corrigan served as President
and Chief Executive Officer of Zalicus Inc. (Zalicus), from
January 2010 until the completion of Zalicus merger with EPIRUS
in July 2014. From 2013 to 2015, Dr. Corrigan served on the board
of directors of Avanir Pharmaceuticals, Inc. (acquired by Otsuka
Pharmaceuticals Co., Ltd.), a publicly traded company, chairing
the Scientific Committee, and serving on the Nominating and
Corporate Governance Committee. From 2008 to 2015, Dr. Corrigan
served on the board of directors of Cubist Pharmaceuticals, Inc.
(acquired by Merck Co., Inc.), a publicly traded
biopharmaceutical company, serving on the Audit Committee and the
Nominating and Governance Committee and chairing the Scientific
Affairs Committee. From 2003 to 2009, Dr. Corrigan was Executive
Vice President, Research Development of Sepracor, Inc. (now
Sunovion Pharmaceuticals Inc.) (Sunovion). Prior to joining
Sunovion, Dr. Corrigan spent 10 years with Pharmacia Upjohn,
Inc., most recently as Group Vice President of Global Clinical
Research and Experimental Medicine. Dr. Corrigan spent five years
in academic research at the University of North Carolina Medical
School, focusing on psychoneuroendocrinology, before joining the
pharmaceutical industry. Dr. Corrigan holds a B.A. and an M.D.
from the University of Virginia and received specialty training
in psychiatry at Maine Medical Center and Cornell University.
>>>>>>>>>>>>>There is no
arrangement or understanding to which Dr. Corrigan was elected as
a director, and there are no related party transactions between
the Company and Dr. Corrigan required to be disclosed under Item
404(a) of Regulation S-K. Dr. Corrigan will participate in the
standard compensation plan for non-employee directors, under
which he will be eligible to receive a $40,000 annual retainer
(which will be prorated for 2017) for his service as a director
and a $10,000 annual retainer for his service as a member of the
Compliance Committee. In addition, Dr. Corrigan will be eligible
for stock option and other equity awards as a non-employee
director, as approved by the Board, upon the recommendation of
the Compensation Committee of the Board. In connection with his
appointment, Dr. Corrigan received a stock option to purchase
9,600 of the Companys common shares, which will vest in equal
monthly installments over 36 months, beginning one month after
the grant date. A copy of the press release announcing Dr.
Corrigans appointment is attached as Exhibit 99.1.
>>>>>>>>>>On March 30, 2017,
Sandford Smith resigned from his position as Vice Chairman of the
Board of the Company.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
99.1
Press Release, dated March 31, 2017.


About Novelion Therapeutics Inc. (NASDAQ:NVLN)

Novelion Therapeutics Inc, formerly QLT Inc., is a Canada-based biopharmaceutical company. The Company is engaged in development of new standards of care for individuals living with rare diseases. The Company is focused on advancing its portfolio of rare disease therapies by investing in science and clinical development. The Company holds a portfolio of products through its subsidiary, Aegerion Pharmaceuticals, Inc., a biopharmaceutical company dedicated to the development and commercialization of innovative therapies for patients with debilitating rare diseases. The Company’s portfolio of products include MYALEPT and JUXTAPID. The Company is also developing zuretinol acetate for the treatment of inherited retinal disease caused by underlying mutations in RPE65 or LRAT genes.

Novelion Therapeutics Inc. (NASDAQ:NVLN) Recent Trading Information

Novelion Therapeutics Inc. (NASDAQ:NVLN) closed its last trading session 00.00 at 10.69 with 71,460 shares trading hands.