The Cross-Border Biotech Blog

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

Monday Deal Review: June 8, 2009

B&W_BigNickelWell, it’s a day late, but no dollars short.  Here is an action-packed Deal Review.  Read on for some debt settlement, some creditor un-settlment (a BIA filing), and all kinds of M&A related rejigging…

MedMira Settles, LMS Files:

M&A:

  • JLL is still plugging away at another extension of its Patheon offer, and Patheon is still plugging away at encouraging business announcements, this week touting recognition by Eli Lilly as a “key supplier.”
  • MDS Inc. (TSX: MDS; NYSE: MDZ) is refocusing its business. It signed an agreement to sell its Phase II-IV operations to INC Research, Inc., a leading global provider of CRO services, for $50 million, including the planned transfer of approximately 800 employees who conduct large, multi-site clinical trials in more than 25 countries. The plan is to focus its MDS Pharma Services business on the delivery of discovery through Phase IIa CRO services, where it says it has “a top-three market position.” MDS is also shopping its Central Labs services. Here’s the blurb:

    Central Labs conducts analysis of samples from clinical trials to monitor safety and to test for physiological impact. This operation has more than 600 employees at six sites in Europe, North America and Asia. Its proprietary, industry-leading Apollo study-management system offers clients real-time access to study data from around the world.

Haemacure and Angiotech Seal More Deals:

Haemacure Corporation (TSX: HAE) and Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) both put out press releases (Haemacure’s here, Angiotech’s here) announcing that they closed the US$2.5 million senior secured bridge loan from Angiotech to Haemacure that they first announced about a month ago.   They also executed a strategic collaboration consisting of the following three agreements:

  1. Distribution Agreement: Non-exclusive, world-wide distribution rights for Angiotech to Haemacure’s hemostasis formulation of its proprietary fibrin sealant product in selected surgical indications. 
  2. License and Development Agreement: Haemacure and Angiotech will jointly develop and commercialize a next-generation, drug-loaded fibrin sealant product candidate and will collaborate to create novel fibrin sealant technologies that, in addition to fibrin sealant’s inherent hemostatic properties, may target the prevention of infection, reduce pain, or deliver stem cells using Haemacure’s fibrin sealant as a carrier of such therapies.  Collaboration costs and eventual profits will be shared on a pro rata basis, based on each company’s contribution to collaboration costs.
  3. Thrombin License and Supply Agreement:  Haemacure will supply its proprietary human thrombin exclusively to Angiotech for the development of a certain Angiotech preclinical product candidate.

More Commercial Deals and Collaborations:

Plans Coming to Fruition:

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4 responses to “Monday Deal Review: June 8, 2009

  1. Pingback: Monday Deal Review: July 6, 2009 « The Cross-Border Biotech Blog

  2. Pingback: Monday Deal Review: July 27, 2009 « The Cross-Border Biotech Blog

  3. Pingback: Monday Deal Review: August 17, 2009 « The Cross-Border Biotech Blog

  4. Pingback: Monday Biotech Deal Review: January 18, 2010 « The Cross-Border Biotech Blog

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