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Prometic Life Sciences to change name to Liminal BioSciences

Prometic Life Sciences Inc. plans to change its name to Liminal BioSciences as part of a global rebranding exercise.

The Canadian biopharmaceutical company said the name change is also in conjunction with the company's plan to list on Nasdaq.

The name change is expected to take effect in October, subject to stock exchange and shareholder approvals. Following shareholder approval, Prometic plans to file articles of amendment to effect the name change.

The company expects its common shares to commence trading on the Nasdaq and Toronto Stock Exchange under the new name in the fourth quarter of 2019.

Prometic Life Sciences develops treatments for unmet medical needs in fibrosis and orphan diseases.

Its drug candidate PBI-4050 received rare pediatric disease designation from the U.S. Food and Drug Administration in August 2018 for treating Alström syndrome — a rare genetic disease characterized by multiorgan dysfunction.