Monday Deal Review: July 27, 2009

Well, July is wrapping up with no sign of summer, or of the summer doldrums. Read on for all the rainy-day deals we found this week

A bit of brand-new activity:

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) filed a preliminary shelf registration statement for up to US$250 million of securities.
NRC-IRAP used part of its $170 million in Canadian stimulus money to fund a $260,000 grant to ImmunoVaccine Technologies Inc., and will provide technical and business-oriented advisory services to support development of IVT’s pipeline of therapeutic (cancer) and preventive vaccines.
Medicago Inc. (TSX-V: MDG), a recent recipient of funding from The Quebec Consortium for Drug Discovery (CQDM), will work with Genopole® biopark in Evry, France to establish a commercial-scale vaccine production facility that would initially produce pandemic and seasonal influenza vaccines. Construction is conditional on a successful Phase I trial of Medicago’s H5N1 pandemic influenza vaccine and support from the government in France.

A pile of deals, announced earlier, came to fruition this week:

MedMira Inc., (NASDAQ: MMIRF, TSX-V: MIR) finished up their debt settlement, with the issuance of 6,849,014 common shares gaining TSXV approval. They also added VWR Scientific as a Canadian distributor of MedMira’s products.
SemBioSys Genetics Inc. (TSX: SBS) closed on 11,865,341 units out of the 21,429,000 available for total gross proceeds of $4,152,869.35. The agents received options equal to 6.0% of the number of units sold, each option allowing the purchase of one unit at $0.35 through 2011.
Bioniche Life Sciences Inc. (TSX: BNC) received its US$20 million up-front payment from Endo, as expected, and used part of the payment to pay off its credit facility with Valens U.S., a total of US$5.3 million with associated fees.
Oncogenex (NASDAQ: OGXI) didn’t waste much time using the new shelf they put up last month, announced and closed a $9.5 million registered direct offering of 475,000 common shares. The $20 offering price represented a 3.5% discount to the closing price on the last trading day prior to announcement. A whopping (not) $100,000 of expenses leave net proceeds of $9.4 million.

End of (some) line:

DiagnoCure (TSX: CUR) pulled their offering this week “because of market conditions and in the interest of current shareholders.”
Ambrilia Biopharma (TSX: AMB), which licensed one of their drug candidates to Kotinos last week, halted a Phase III study at the 6-month mark this week as part of continued cost-cutting efforts, noting that there had been no safety problems or adverse events.
LMS Medical Systems Inc. (TSX: LMZ) and its subsidiary, LMS Canada, sold substantially all of their assets out of receivership this week to PeriGen Canada for $3.5 million.