BELLUS Health Reports Full Year 2019 Financial Results and Business Highlights on BLU-5937

BELLUS Health Inc. (Nasdaq: BLU; TSX: BLU) (“BELLUS Health” or the “Company”), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of chronic cough and other hypersensitization-related disorders, today reported its financial and operating results for the year ended December 31, 2019.

“The Company closed 2019 on a strong, positive trajectory, and we look at the past year as one of substantial growth and progress in the areas of clinical and corporate development,” said Roberto Bellini, President and Chief Executive Officer of BELLUS Health. “Last year was highlighted by the initiation of our Phase 2 RELIEF trial of BLU-5937 in chronic cough, as well as by our US$79.4 million equity offering and beginning of trading on the Nasdaq exchange. These critical achievements have positioned BELLUS Health to execute on this year’s upcoming milestones and development plans, including the data readout for the RELIEF trial in chronic cough and the initiation of the Phase 2 trial in chronic pruritus, a second indication for BLU-5937.”

PROGRAM AND CORPORATE HIGHLIGHTS

• Ongoing Phase 2 RELIEF trial of BLU-5937 for the treatment of refractory chronic cough, with top-line results anticipated in mid-2020.

In July 2019, the Company enrolled the first patient in the Phase 2 RELIEF trial of BLU-5937 for the treatment of refractory chronic cough. The Company expects to complete patient enrollment by the end of March, with topline results anticipated in mid-2020.

• Completed a clinical Phase 1 drug-drug interaction (“DDI”) trial of BLU-5937 in 28 healthy adult subjects demonstrating no clinically significant interaction with CYP3A4, OATP1B1 and BCRP.

In December 2019, the Company completed a DDI trial, which indicated that the administration of BLU-5937 should not affect the elimination of other drugs that are substrates of these enzymes/transporters. BLU-5937 was found to be safe and generally well tolerated in the trial (200 mg BID dose administered for 10 days). Two subjects out of 28 (7%) reported a mild taste alteration, which occurred only on the first day of dosing.

• Closed a US$79.4 million equity offering and began trading on the Nasdaq.

In September 2019, the Company issued a total of 11,179,451 common shares from treasury at a price of US$7.10 per share for aggregate gross proceeds of C$104.6 million (US$79.4 million). Concurrently with the pricing of its equity offering, BELLUS Health’s common shares began trading on the Nasdaq Global Market (“Nasdaq”) on September 5, 2019.