The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Monday Deal Review: April 27, 2009

Biotech deal activity in Canada was back on the upswing a bit this week, with some private placements, issuer bids, and an equity line of credit…

JLL-Patheon Developments:

Securities:

Commercial Transactions:

  • Amorfix Life Sciences Ltd. (TSX: AMF), a Canadian theranostics company, and BioMosaics Inc. (based in Vermont) are collaborating with Sunnybrook Research Institute to develop and commercialize a blood-based assay for early detection of hepatocellular carcinoma, supported by an “Intellectual Property Development and Commercialization Program” investment of $280,000 from the Ontario Institute for Cancer Research.  BioMosaics will have the opportunity to market the new test directly, as well as through its existing distributors, and Amorfix will receive royalties on commercial product sales, as well as an option to manufacture the assay kits and reagents for global distribution.  Amorfix had another announcement this week, not for distribution in the U.S.

Equity Line of Credit:

  • MedMira Inc., (TSX-V: MIR, NASDAQ: MMIRF) submitted a draw down notice for $75,000 to YA Global Investments LP against its equity line of credit.  Under the terms negotiated in the equity line, YA Global Investments LP will purchase common shares from MedMira at a price to be calculated based on 96.5% of the daily VWAP over a 10 day pricing period.  The settlement date is May 6, 2009, subject to the approval of the TSX Venture Exchange.

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2 responses to “Monday Deal Review: April 27, 2009

  1. Pingback: Monday Deal Review: May 11, 2009 « The Cross-Border Biotech Blog

  2. Pingback: Monday Biotech Deal Review: May 3, 2010 « The Cross-Border Biotech Blog

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