The Cross-Border Biotech Blog

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

Monday Deal Review: June 3, 2013

Welcome to your Monday Biotech Deal Review for June 3, 2013! The past week’s major news was Valeant’s major acquisition of Bausch + Lomb for a combined debt and equity amount of $8.7 billion, bolstering its ophthalmology business heavily. Bausch + Lomb will retain its name and become a division of Valeant, withValeant’s existing ophthalmology businesses being integrated into the newdivision. The transaction creates a global eye health business with estimated pro forma 2013 net revenue of more than $3.5 billion. The acquisition is suggested to be a response to growing eye health trends driven by an aging patient population, an increased rate of diabetes and demand from emerging markets. 

Also on the M&Eh front, Resverlogix is continuing with their proposed spin out to Zenith, as covered last week. The shareholders of Resverlogix approved the special resolution required to conduct the spin out. 

Meanwhile, Angiotech is distributing the proceeds it received from the sale of its Interventional Products business to shareholders, and RepliCel signed an agreement with the cosmetic giant Shiseido for the development and licensing of hair regrowth technology pioneered by RepliCel.

Get the scoop on these deals and many more by hitting the break!

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Monday Deal Review: May 27, 2013

Welcome to your Monday Biotech Deal Review for May 27, 2013! After what was hopefully a peaceful and relaxing Victoria Day, we can get back to business with two week’s worth of news.  To start, Bioniche is looking to sell its animal health business, having engaged an advisory firm to advise on a transaction. In adidtion, TheraVitae is entering into a transaction with Technical Ventures RX Corp, ultimately creating the publicly-traded biotech Hemostemix. TheraVitae currently works in the area of blood-derived autologous adult stem cell therapies.

Also noteworthy is Aeterna Zentaris’s at market issuance of up to US$4.6 million worth of shares on the NADAQ. Finally, iCo Therepeutics closed its own marketed offering, with proceeds of $3,379,519.90.

Theres still more to see from the last two weeks, so hit the break and get up to speed on the all the major biotech news.
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Monday Deal Review: May 13, 2013

Welcome to your Monday Biotech Deal Review for May 13, 2013! This week saw MethylGene make waves with its announcement that it will move its business to the State of Delaware, and will be held by specially made Mirati Therepeutics.  Mirati will then seek listing on the NASDAQ. It is unclear how long the company will be trading on both the TSX and the NASDAQ together. In other news, iCo has priced an overnight marketing of units for proceeds of about $3.2 million, while Sirona has rasied another $1 milllion, beinging their 2013 total to a healthy $2.4 million.  Click on through to get the rest of the past week’s major biotech news!     Read more of this post

Monday Deal Review: April 29, 2013

Welcome to your Monday Biotech Deal Review for April 29, 2013! This week saw Ergoresearch and Amorfix close their previously announced private offerings. Trimel, meanwhile, has raised $40 million from their public offering of 50,000,000 common shares. On the acquisition front, Valeant received approval from Uklraine’s anti-monopoly authority, after extending the deadline for their tender offer for Obagi, which has now closed.  Get the details on these key transactions, as well as the rest of the week’s major news, by clicking through!

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Monday Deal Review: April 22, 2013

Welcome to your Monday Biotech Deal Review for April 22, 2013! Aeterna Zentaris has had a busy two weeks on the commercial front, signing agreements with Merck and Ergomed.  However, there was a lot more action as well.  Hit the break to catch up on the week’s major biotech news.   Read more of this post

Monday Deal Review: April 8, 2013

Welcome to your Monday Biotech Deal Review for April 8, 2013! After a hiatus last week due to the holiday, this week we have a lot of activity to cover. Valeant, in particular has been quite busy, being forced to up their bid for Obagi to $24.00 in response to interest from Germany’s Merz Pharma Group. In addition, Valeant’s latest bid is already 70 percent more than Obagi’s average 20-day stock price before the takeover fight began, the highest premium for a U.S. drug-industry deal in four years, according to data compiled by Bloomberg. Further, the Royal Bank fo Canada has said Valeant could be willing to pay as much as $28 a share to top any new offer from Merz, pushing the premium to as high as 99 percent. Valeant has also begun an unrelated note exchange, and has separately engaged a generic manufacturer with a license agreement after Mylan’s regulatory approval of their own anti-viral acyclovir-containing Zovirax® ointment equivalent.

In other news, Stem Cell Therepuetics has signed their merger agreement with Trillium, based on negotiations with Trillium’s debentureholders. There is much more to cover, so follow the break to get up to date on the latest and biggest biotech stories.

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Monday Deal Review: March 25, 2013

Welcome to your Monday Biotech Deal Review for March 25, 2013! This week’s big news was Valeant’s ongoing strategy of using acquisitions to bolster their product portfolio rather than R&D.  Valeant is paying US$19.75 per share of Obagi, which is a skin-care company that is thought to be a leader in the physician dispensed market. Following last year’s acquisition of skin-care maker Medicis, this acquisition is hoped to save $40 million a year for Valeant in cost synergies with tspectralhe new company. Analysts have said that Valeant is paying a little higher than the 2-2.5 times multiple of sales that Valeant has shown a preference to pay, although the cost synergies may be a likely explanation of that.

In other news, IMRIS and Cynapsus have closed private placements, while Trimel has continued their plan of a private placement in conjunction with their major shareholder Eugene Melnyk. Hit the break to catch up on all of the week’s major biotech news!

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Monday Deal Review: March 18, 2013

Welcome to your Monday Biotech Deal Review for March 18, 2013! Another busy week on the investment front saw a number of financings close as well as details provided for ongoing private placements. On the M&A front, Ergoresearch and Victhom have entered into an arrangement whereby Ergoresearch will acquire Victhom. See the details on these transactions and the rest of the week’s major stories by clicking through!

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Monday Deal Review: March 11, 2013

Welcome to your Monday Biotech Deal Review for March 11, 2013! The past week saw significant activity in the investment space, so click through to review a busy week’s worth of biotech news!

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Monday Deal Review: March 4, 2013

Welcome to your Monday Biotech Deal Review for March 4, 2013! The highlights from the past week include Oncolytics’ closing of their$32 million public offering, an update on Paladin’s ongoing share purchase program, and Atrium’s joint venture agreement with Fosum.  Get the details on these and the rest of the week’s major biotech news by clicking through.

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Monday Deal Review: February 25, 2013

Welcome to your Monday Biotech Deal Review for February 25, 2013!

This week saw significant activity on the investment front. Stem Cell Therepeutics and Sirona have each indicated an intention to raise funds through private placements, while Oncolytics Biotech is aggressively hoping to raise $32 million through a public offering. Sernova, Helix BioPharma and Amforfix have each closed their own private placements this week as well. On the M&A front, Cangene has closed their acquisition of the hemophilia compound IB1001, acquiring it through Inspiration Biopharmaceutical’s bankruptcy.

There’s more great stories this week, so click onward to see the whole week’s Deal Review.

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Monday Deal Review: February 18, 2013

Welcome to your Monday Biotech Deal Review for February 18, 2013! This week saw Gilead finally close its acquisition of YM Biosciences, with YM’s shares now de-listed from trading on the NYSE Amex and the TSX. Shareholders were given $2.65 for each of their common shares during the plan of arrangement.  On the investment front, Innovotech, RepliCel, Lignol, Biosenta and Biosign each had announcements relating to the close or amendment of existing private placements.  Click on to see the full details.

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Monday Deal Review: February 11, 2013

Welcome to your Monday Biotech Deal Review for February 11, 2013! This week saw YM Biosciences obtain the required court approval necessary before their plan of arrangement acquisition by Gilead could proceed. The transaction is essentially free to proceed by the effective date of the agreement. Cangene has acquired a hemophilia compound from the remaining assets of Inspiration Biopharmaceuticals, which is undergoing bankruptcy proceedings. Cangene paid $5.9 million for the compound. Also in the news, Stem Cell Therepuetics will undergo a plan of arrangement with Trillium Therepeutics, where the two companies will effectively be merged and continue to operate under Stem Cell’s name.

Of course, there was considerably more activity this week, so click through to get the full story!

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Monday Deal Review: February 4, 2013

Welcome to your Monday Biotech Deal Review for February 4, 2013! This week saw significant activity in the sector generally  On the M&A side, Valeant continued their ongoing acquisition strategy, buying the Russian Natur Product International, a primarily OTC private pharma company. Gilead’s acquisition of YM Biosciences took one step closer to completion as YM shareholders approved the statorily mandated vote to approve the plan of arrangement that will facilitate the arrangement. Court approval is now required as one of the final steps. Microbix was also involved in the week’s M&A activity, having sold its water for injections business to Irvine Scientific. The there was also significant investment activity this week, including Biosenta announcing a new private placement.

See detail on these and the the rest of the week’s major biotech stories by clicking through!

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Monday Deal Review: January 28, 2013

Welcome to your Monday Biotech Deal Review for January 28, 2013!  The past week was relatively quiet, but highlights include Sernova’s $2 million private placement and Helix’s closing of their $8.5 million sale of the Rivex division.  Click below to get the whole week’s stories!

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Monday Deal Review: January 21, 2013

Welcome to your Monday Biotech Deal Review for January 21, 2013!  Medicago made news last week with a $15 million loan agreement with an unnamed pharmaceutical company. The funds are being used for Medicago’s plant-based VLP vaccine pipeline. As the agreement provides for potential licensing options with that partner, we will be watching closely to see any further announcements.

YM Biosciences, as it continues with its plan of arrangement transaction with Gilead, has received the endorsement of two proxy firms who have recommended to shareholders that they vote in favour of the transaction. This will likely allow YM Biosciences to obtain the shareholder approval required by statute to be able to continue with the arrangement.

Paladin labs, meanwhile, has closed their acquisition of a controlling stake in Ativa Pharma of Mexicom, and has also in-licensed a new biologic from Apeiron Biologics. Also, last week we saw Theratechnologies conclude their recent issues with the NASDAQ exchange by voluntarily delisting. They remain on the TSX, however.

As always, click through to see more on these deals as well as the rest of last week’s major biotech activity.

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Monday Deal Review: January 14, 2013

Welcome to your Monday Biotech Deal Review for January 14, 2013! This week’s big news is that Cytochroma, a privately held company, will be acquired by OPKO Health.  Also on the M&A side, Asia-Biochem completed their acquisition of China’s Tieling Wanshunda Starch Company Ltd for over CDN$44 million. There was not much activity in the investment space, however ProMetric has been able to close $10 million in financing from Shenzhen Hepalink Pharmaceutical Co.,  as we’ve covered previously.  Find out more about these transactions, as well as the rest of this week’s major Canadian Biotech news, by clicking through! Read more of this post

Monday Deal Review: January 7, 2013

Happy New Year and welcome to your Monday Biotech Deal Review for January 7, 2013! While biotech gets back to business for 2013 after the holidays, the last 2 weeks have not seen a flurry of activity.  Nonetheless, on the M&A side, IBEX Technologies acquired Bio-Research Products, while Biosign and Patheon completed private financings of their own.  Further, Warnex has begun trading under the NEX and Stellar Pharmaceuiticals has completed their planned name change to Tribute Pharmaceuitcals.  Get more details on these stories as well as last week’s other major biotech news by clicking through.   Read more of this post

Monday Deal Review: December 24, 2012

Welcome to your Monday Biotech Deal Review for December 24, 2012.  While the past week was relatively slow as everyone prepared for holiday breaks, there was nonetheless a series of option grants, commercial agreements and even the closing of a major private placement and conversion of a convertible debenture.  Click onward to see more, and of course, we wish you a wonderful holiday and a happy new year!

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Monday Deal Review: December 17, 2012

Welcome to your Monday Biotech Deal Review for December 17, 2012.  This week saw the completion of a number of previously announced acquisitions, as well as the announcement of new ones. The latter group includes Gilead’s acquisition of YM Biosciences and Helix’s sale of Rivex to Pharmascience. See the details on these major transactions, as well as the past week’s other biotech news, by clicking through.

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Monday Deal Review: December 10, 2012

Welcome to your Monday Biotech Deal Review for December 10, 2012.  This week saw significant activity in the commercial and licensing agreements arena, as well as a couple M&Eh transactions. Of particular note is Valeant’s commercial resolution of their ongoing issues with Gladerma SA stemming from Valeant’s recent purchase of Medicis.  On the M&A side of things, Biosign has purchased their exclusive distributor Bioanalytics Inc. hot on the heels of closing their recent private placement, which closed the previous week. See the rest of a relatively busy past week’s major biotech deals by clicking through!
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Monday Deal Review: December 3, 2012

Welcome to your Monday Biotech Deal Review for December 3, 2012.  An unusually high number of private placements characterized the past week’s Canadian biotech activity, with Biosign Technologies having closed one private placement and following up with another. Cynapsus has filed a short form prospectus, following last week’s filing by Allon Therepeutics, and Patheon has indicated they intend to make a cash tender offer for outstanding senior notes.  See more detail on these and last week’s other major biotech stories by clicking through!
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Monday Deal Review: November 26, 2012

Welcome to your Monday Biotech Deal Review for November 26, 2012. This past week saw Valeant continue their aggressive stock repurchase program. Valeant plans to repurchase up to $1.5 billion worth of its own stock, senior notes or debt. Further, we saw Paladin expand its potential sales reach with the purchase of a controlling stake in Mexico-based Ativa Pharma.  Get the full breakdown of these and many more of the past week’s major biotech stories.   
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Monday Deal Review: November 19, 2012

Welcome to your Monday Biotech Deal Review for November 19, 2012. This past week saw the FTC give Valeant formal approval to acquire Medicis. A busy week on the investment front saw Kane Biotech, Lignol and MethylGene announce their intentions to raise capital. We also saw Abattis executing their previously announced licensing agreement with Vertical Design Systems for the use of Vertical’s plants, plant materials and extracts production technology. For more details on these sotries as well as many more, click through below!  
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Monday Deal Review: November 12, 2012

Welcome to your Monday Biotech Deal Review for November 12, 2012.  This week was a rather slow week as most biotech companies reported their third quarter financial results.  However, Atrium bucked the trend and has continued with its share repurchase program.  Click through to learn more.
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Monday Deal Review: November,5 2012

Welcome to your Monday Biotech Deal Review for November 5, 2012.  The past week saw a flurry of activity by Patheon, as it seeks to fund the acquisition of Banner Pharmacaps from Netherlands based VION.  Functional Therapeutics, on the other hand, has indicated that their previously announced spin-out agreement has been terminated.  Check out the link below for more detail on these stories, as well as the other major biotech stories of the past week.
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Monday Deal Review: October 29, 2012

Welcome to your Monday Biotech Deal Review for October 29, 2012.  Last week, we saw Warnex agree to sell their Bioanalytics Division, which specializes in bioavailability and bioequivalence analysis for pre-clinical and clinical studies, to France-based Biotrial Research. Calyx Bio-Ventures also had a busy week, not only announcing their intent to raise up to $5 million through provate placement, but also that they will be increasing their existing minority stake in Agrisoma Biosciences. For more detail on these stories as well as many more, read on!   
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Monday Deal Review: October 22, 2012

Welcome to your Monday Biotech Deal Review for October , 2012.  A busy week on the licensing front saw commercial deals involving ProMetic Life Sciences, Abbatis Bioceuitcals and Paladin Labs.  In addition, Aeterna Zenatris closed their $15.2 million USD  public offering, which we covered last week.  Get the whole story on this week’s biotechnology news by clicking through. 
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Monday Deal Review: October 15, 2012

Welcome to your Monday Biotech Deal Review for October 15, 2012.  Thanks to Thanksgiving for the Canadians and Columbus day for the Americans out there, this week’s post covers the last two weeks of activity.  Biggest of the weeks’ stories, however, is Aeterna Zentaris Inc.’s $15 million public offering, closing in mid October.  Read onwards to see just how busy this fall the market is shaping up to be. 
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Monday Deal Review: September 31, 2012

Welcome to your Monday Biotech Deal Review for September 31, 2012. This week’s big news is yet another acquisition by Valeant, this time for the U.S rights and inventory of an age-related macular degeneration treatment from QLT Inc. Find more details on this story and others by clicking through.
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