Hopefully, the Deal Review will be a longer list as the newly-launched Ontario Emerging Technologies Fund starts deploying some capital, but for this week, the Canadian deal front was pretty quiet. A few developments, like the JLL-Patheon pathos and the milestone for Cardiome from Merck, were noted at the time in our Twitter stream @crossborderbio, and aside from that there are only a few deals, and a bit of bad news, to check out
Deals:
- SemBioSys Genetics Inc. (TSX: SBS) divested the majority of its stake in its subsidiary, Botaneco Specialty Ingredients Inc., to Avrio Ventures Limited Partnership. SemBioSys ends up owning 20% of Botaneco, which gets Botaneco off SemBioSys’ balance sheet, and Botaneco is freed up to pursue a pending third-party transaction.
- Bradmer Pharmaceuticals Inc. (TSX: BMR) mailed the details of its substantial issuer bid to shareholders this week — offering to purchase for cancellation up to 8.3 million of its outstanding common shares, at $0.20 per share. Here are the docs on SEDAR.
- Prism Medical Ltd. (TSX-V: PM) announced an intended private placement of common shares in the amount of up to $3,000,000 at $6/share. The offering will be extended to directors, senior executives, employees and consultants of Prism and its subsidiaries who can borrow subscription funds from HSBC Bank Canada with a guarantee from Prism.
There were also a number of Canadian companies pulling back this week, including:
- Ambrilia, which laid off senior management,
- Cangene, which is pulling WinRho (SDF) out of EU markets, and
- Immunotec, which is closing its Korean operations.
3 responses so far ↓
Monday Deal Review: August 28, 2009 « The Cross-Border Biotech Blog // August 31, 2009 at 7:08 am |
[...] Prism Medical Ltd. (TSX-V: PM) closed the private placement it launched a few weeks ago, issuing 350,118 common shares at $6.00 per share for gross proceeds of $2,100,708, shy of the announced $3 million target. [...]
Monday Biotech Deal Review: October 25, 2009 « The Cross-Border Biotech Blog // October 26, 2009 at 9:51 am |
[...] shares of Botaneco Specialty Ingredients Inc., held by Avrio Ventures Limited Partnership and (a little, still by) SemBioSys Genetics Inc. (TSX: SBS) (SemBioSys’ release here). Under the terms of the deal, [...]
Monday Biotech Deal Review: November 23, 2009 « The Cross-Border Biotech Blog // November 24, 2009 at 6:58 am |
[...] November 16, 2009 is the record date, and the meeting will be held December 18, 2009. Meanwhile, Advitech’s acquisition of ex-SemBioSys subsidiary Botaneco closed into [...]