Novelion Therapeutics Inc. said the company will shut down Jan. 16 after the Supreme Court of British Columbia granted the orders for voluntary liquidation.
Alvarez & Marsal Canada Inc. will be appointed as the liquidator on the date, and concurrently, Michael Price, executive vice president and CFO, will resign. Price is the company's sole executive officer.
In addition, Price and two other directors, Suzanne Bruhn and Stephen Sabba, will resign from the board of the Vancouver, British Columbia-based company.
After the effective date, the transfer agent of Novelion's common shares will discontinue recording share transfers.