The Cross-Border Biotech Blog

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

Monday Biotech Deal Review: August 13, 2012

Welcome to your Monday Biotech Deal Review for August 13, 2012.  Highlights from the previous two weeks include the announcement of an interim order for a plan of arrangement between QHR Technologies Inc. and Open EC Technologies and the announcement of a support agreement for the takeover of Life Bank by Insception Biosciences.  Read on to learn more. Read more of this post

Monday Biotech Deal Review: July 30, 2012

Welcome to your Monday Biotech Deal Review for Monday July 30, 2012.  Highlights from the previous weeks include the closing of the $13 million public offering by Trimel Pharmaceuticals and $7.5 million loan, as well as the M&A activity involving Functional Technologies Inc. and Medifocus Inc. Read on to learn more.  Read more of this post

Monday Biotech Deal Review: July 9, 2012

Welcome to your Monday Biotech Deal Review for July 9, 2012.  Highlights from the previous two weeks include the announcement of a $13.25 million prospectus offering by Trimel Pharmaceuticals, and the announcement of a $200 million exchange offer by Angiotech on its Senior Floating Rate Notes due 2013.  Read on to learn more. Read more of this post

Monday Biotech Deal Review: June 25, 2012

Welcome to your Monday Biotech Deal Review for June 25, 2012.  Highlights from the previous week include the closing of the second tranche of Medifocus’ private placement for gross proceeds of $3.3 million.  Read on to learn more. Read more of this post

Monday Biotech Deal Review: June 18, 2012

Welcome to your Monday Biotech Deal Review for June 18, 2012.  Highlights from the previous week include the $10 million subscription receipt financing by Allon Therapeutics, the elimination of $11.8 million in debt by MedMira and the syndication of $600 million in debt by Valeant under its existing senior secured credit facilities.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: June 11, 2012

Welcome to your Monday Biotech Deal Review for June 11, 2012.  The Monday Biotech Deal Review is back with Norton Rose Canada summer law student Jennifer Ng, who has agreed to assist with the deal review over the summer months.  A very warm thanks to Keldeagh Lindsay for his dedication and contribution to the blog!  The below covers transactions in the biotech space since since May 14, 2012.  Highlights include the closing of the first tranche of Stellar Pharmaceuticals’ debt financing, as well as private placements each worth approximately $6 million closed for each of MedMira Inc. and Lorus Therapeutics.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: May 14, 2012

Welcome to your Monday Biotech Deal Review for May 14, 2012.  Highlights from the previous week include the $5 million private placement announced by Lorus Therapeutics and other equity financing announcements, but otherwise the week has generally been a slow one.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: May 7, 2012

Welcome to your Monday Biotech Deal Review for May 7, 2012.  Highlights from the previous week include the announcement by Valeant of its agreement to acquire assets from University Medical Pharmaceuticals Corp. for approximately $64M as well as the announcement of Merus’ $10M bought deal private placement and the completion of Allon Therapeutics’ $10M brokered private placement.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: April 30, 2012

Welcome to your Monday Biotech Deal Review for April 30, 2012.  It was a slow week last week, with a couple of private placement closings, a business unit purchase and some commercial activity.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: April 23, 2012

Welcome to your Monday Biotech Deal Review for April 23, 2012.  Deals from the past week were slow, but included a $10M brokered private placement by Allon Therapeutics and the completion of Warnex’ new credit facility.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: April 2, 2012

Welcome to your Monday Biotech Deal Review for April 2, 2012.  There have been few large transactions over the previous weeks, but there have been some private placement financings and M&A activity, including the announcement of a takeover by Valeant of Russian-based Natur Product International for approximately $180M.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: March 12, 2012

Welcome to your Monday Biotech Deal Review for Monday March 12, 2012.  Following a break, the Monday Biotech Deal Review is back with summaries of biotech transactions over the previous weeks.  Activity has been impressive over the past month, with pharma-giant Valeant Pharmaceuticals syndicating $600M in senior secured indebtedness under its existing senior credit facility to fund (among other things) future acquisitions, Alexion Pharmaceuticals completing its acquisition of Enobia Pharma for $610M and Futuremed Healthcare Products Corporation was acquired by Cardinal Health Inc.  Also of note was the recent $80.5M equity financing by YM BioSciences as well as the reverse takeover of The Atman Co. by Biotonix.  Read on to learn more.   Read more of this post

Monday Biotech Deal Review: February 13, 2012

Welcome to your Monday Biotech Deal Review for February 13, 2012.  There was some interesting biotech activity over the previous two weeks, including the closing by Oncolytics of its $18.5M equity financing and the withdrawal by Valeant of its offer to acquire ISTA Pharmaceuticals and its acquisition of a Brazilian food and sport supplement company.  Read on to learn more.   Read more of this post

Monday Biotech Deal Review: January 30, 2012

Welcome to your Monday Biotech Deal Review for January 30, 2012.  Juicy news from last week include the $15M bought-deal that Oncolytics entered into with a syndicate of underwriters, as well as the closing of other private placement financings.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: January 23, 2012

Welcome to your Monday Biotech Deal Review for January 23, 2012.  Noteworthy news from the previous week include the sweetening of the offer by Valeant for ISTA Pharmaceuticals by an additional dollar per share ($7.50 from $6.50), and the adoption by ISTA of a shareholder rights plan to replace its recently expired plan.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: January 16, 2012

Welcome to your Monday Biotech Deal Review for January 16, 2012.   News from last week includes a  $5M raise by MedGenesis Therapeutics to support its therapeutic research for the treatment of Parkinson’s Disease, as well as a $70k private placement by PharmaGap.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: January 9, 2012

Happy New Year and welcome back to your Monday Biotech Deal Review for January 9, 2012, following a holiday hiatus.  Link below to our review of transactions that have occurred over the previous three weeks.  Noteworthy transactions include various acquisitions by Valeant as well as a refinancing of its existing debt facilities.   Read on to learn more.  Read more of this post

Monday Biotech Deal Review: December 12, 2011

Welcome to your Monday Biotech Deal Review for December 12, 2011.  Microbix and PharmaGap each completed private placements, together raising over $1 million.  As well, Nuvo Research is purchasing the minority interest in its German subsidiary from Dr. Friedrich-Wilherm Kuehne.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: December 5, 2011

Welcome to your Monday Biotech Deal Review for December 5, 2011.  Some equity investment activity occurred over the previous week, with Resverlogix closing its previously announced $17.5M private placement, Response Biomedical announcing an $8M rights offering, and various other small private placements.  As well, Valeant is going to fund its acquisition of iNova with debt, as summarized further below.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: November 28, 2011

Welcome to your Monday Biotech Deal Review for November 28, 2011.  Notable events from the previous week include the announcement of a fully-subscribed brokered private placement by Resverlogix for proceeds of $17.5 million, as well as the announcement by Valeant of an agreement to acquire iNova (Valeant’s appetite for acquisitions continues, unabated), a prescription and OTC seller and distributor operating in the Asia Pacific region and South Africa.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: November 21, 2011

Welcome to your Monday Biotech Deal Review for November 21, 2011.  The week appears to have been dead quiet on the biotech front, with only a handful of items, including the announcement by Response Biomedical of an $8M equity financing by way of a rights offering.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: November 14, 2011

Welcome to your Monday Biotech Deal Review for November 14, 2011, marking the end of its one month hiatus.  The Monday Biotech Deal Review will now be resuming its normal weekly schedule.  Below are summaries of recent transactions over the past month, which includes the acquisition of Afexa by Valeant for $0.85 per Afexa share, in cash.    Read on to learn more.  Read more of this post

Monday Biotech Deal Review: October 17, 2011

Welcome to your Monday Biotech Deal Review for October 17, 2011.  This week’s deal review is a double feature following last Monday’s Canadian thanksgiving holiday.  Of note from the past two weeks were the acquisition of Labopharm by Paladin Labs, and its announcement that it is ceasing its hostile takeover pursuit of Afexa.  Read more of this post

Monday Biotech Deal Review: October 3, 2011

Welcome to your Monday Biotech Deal Review for October 3, 2011.  Last week witnessed a flurry of financing activity, with over $50M closed.  As well, the competing take-over bids between Paladin and Valeant for Afexa heated up with both Valeant and Paladin sweetening their offers to Afexa shareholders.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: September 26, 2011

Welcome to your Monday Biotech Deal Review for September 26, 2011.  Noteworthy news from last week included a hint that Labopharm will enhance its offer for the shares of Afexa Life Sciences if its two shareholder rights plans are waived or cease-traded by the ASC.  As well, Medicago announced a significant private placement for proceeds of up to $24.5M, and Valeant has announced its intention to refinance its secured credit facilities with a new $1.7bn facility.  Read more of this post

Monday Biotech Deal Review: September 19, 2011

Welcome to your Monday Biotech Deal Review for September 19, 2011.  Of note in the past week was the extension of the hostile bid by Paladin Labs of Afexa Life Sciences to September 28th, the application by Merus to graduate to the TSXV, and the filing by Allon Therapeutics of a short-form preliminary prospectus.  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: September 12, 2011

Welcome to your Monday Biotech Deal Review for September 12, 2011.  We hope everyone had a restful labo(u)r day long weekend, both north and south of the border.  This week’s biotech deal review is a double feature owing to last week’s holiday.  There has been a lot of activity in the past two weeks, including the announcement of a friendly takeover bid of Afexa by Valeant (Afexa is already the target of a hostile bid by Paladin).  Read on to learn more.  Read more of this post

Monday Biotech Deal Review: August 29, 2011

Welcome to your Monday Biotech Deal Review for August 29, 2011.  In addition to the usual private placement announcements and various commercial transactions, the ongoing hostile bid for Afexa Life Sciences was in the news, with the board of Afexa confirming its recommendation to shareholders to not tender their shares pursuant to the unsolicited bid by Paladin Labs.  Read on to learn more.   Read more of this post

Monday Biotech Deal Review: August 22, 2011

Welcome to your Monday Biotech Deal Review for August 22, 2011.  This week’s deal review is brought to you by Norton Rose OR LLP articling student Keldeagh Lindsay, who will be with us during his articles and assisting in the deal review.  Steven Zuccarelli has done a great job over the summer, and we wish him well in his final year at law school.  

There has been quite a lot of activity over the previous two weeks, with significant equity investment activity, debt financings (public and private), and mergers and acquisitions on the go.  Read on to learn more. Read more of this post

Monday Biotech Deal Review: August 8, 2011

Welcome to your Monday Biotech Deal Review for August 8, 2011.  The previous two weeks witnessed a flurry of investment activity, including the filing of final prospectuses by each of Lorus Therapeutics and Atrium Innovations in respect of equity and debt offerings, respectively.  Read on to learn more.  Read more of this post

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