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BELLUS Health announces formal notice to voluntarily delist from NASDAQ
Date:12/17/2008

BELLUS Health Successfully Completed and Closed the Amendment of the

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Trust Indenture Governing the November 2006 Notes

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LAVAL, QC, Dec. 17 /PRNewswire-FirstCall/ - BELLUS Health Inc. (NASDAQ: BLUS; TSX: BLU) announces that it has provided formal notice to the NASDAQ Stock Market of its intention to voluntarily delist its common stock from the NASDAQ Capital Market. The decision was taken in light of the continuing, extreme short-term volatility in current conditions in the financial markets and, accordingly, in the Company's market value. The Company expects that it will file a Form 25 with the Securities and Exchange Commission and NASDAQ on or about December 29, 2008, with delisting of its common stock to take effect ten days thereafter. The Company's listing on the Toronto Stock Exchange (TSX: BLU) will not be affected by this action. The Company will continue to be subject to the filing and other obligations of the U.S. securities laws applicable to non-U.S. reporting companies during 2009.

Having received the consent of the holders of over a majority in value of the Company's $42,085,000 aggregate principal amount of 6% convertible senior notes issued in November 2006 (the Notes), the Company amended the trust indenture governing the Notes, so as to permit delisting from NASDAQ.

As previously announced, the Company received a Deficiency Letter dated December 1, 2008, from the NASDAQ Staff stating that, for 10 consecutive trading days, the market value of the Company's listed securities had been below the minimum $35,000,000 requirement for continued inclusion on the NASDAQ Capital Market under Marketplace Rule 4310(c)(3)(B).

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SOURCE BELLUS HEALTH INC.
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