BELLUS Health announces formal notice to voluntarily delist from NASDAQ 

    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 /CNW Telbec/ - 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).

    About BELLUS Health

    BELLUS Health is a global health company focused on the development and
commercialization of products to provide innovative health solutions to
address critical unmet needs.

    To Contact BELLUS Health

    For additional information on BELLUS Health and its drug development
programs, please call the Canada and United States toll-free number
1-877-680-4500 or visit the Web Site at www.bellushealth.com.

    Certain statements contained in this news release, other than statements
of fact that are independently verifiable at the date hereof, may constitute
forward-looking statements. Such statements, based as they are on the current
expectations of management, inherently involve numerous risks and
uncertainties, known and unknown, many of which are beyond BELLUS Health
Inc.'s control. Such risks include but are not limited to: the impact of
general economic conditions, general conditions in the pharmaceutical and/or
nutraceutical industry, changes in the regulatory environment in the
jurisdictions in which the BELLUS Health Group does business, stock market
volatility, fluctuations in costs, and changes to the competitive environment
due to consolidation, that actual results may vary once the final and
quality-controlled verification of data and analyses has been completed, as
well as other risks disclosed in public filings of BELLUS Health Inc.
Consequently, actual future results may differ materially from the anticipated
results expressed in the forward-looking statements. The reader should not
place undue reliance, if any, on any forward-looking statements included in
this news release. These statements speak only as of the date made and BELLUS
Health Inc. is under no obligation and disavows any intention to update or
revise such statements as a result of any event, circumstances or otherwise,
unless required by applicable legislation or regulation. Please see the Annual
Information Form of BELLUS Health Inc. for further risk factors that might
affect the BELLUS Health Group and its business.

For further information: Lise Hébert, Ph.D., Vice President, Corporate
Communications, (450) 680-4572, lhebert@bellushealth.com

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