The Cross-Border Biotech Blog

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

Tag Archives: MDS Nordion

Monday Biotech Deal Review: August 16, 2010

Another decent week for Canada’s biotech companies, with about $30 million of securities sold and more deals launched. Big headlines this week for Alectos’ Alzheimer’s collaboration with Merck, which gets a US$289 million number but declines to split out the up-front payment or other details of the fee structure. Also, eHealth Ontario is spending significant money again, this time awarding a $46.5 million contract to a CGI subsidiary for work on a chronic disease management system. Finally, Biovail sold some CRO assets in a deal that passed under the radar until their Q2 report. 

And, to make sure an important thank-you doesn’t fly under the radar, I’d like to include an above-the-fold thanks this week to Keldeagh Lindsay, the Ogilvy Renault student who has been doing a great job helping out with the Monday Biotech Deal Review all summer. And now,

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Monday Biotech Deal Review: July 12, 2010

This week saw several interesting deals, including an $85+ million exit for Sentinelle, some “bio-bucks” made good for Cipher, a licensing deal for Amorfix’s vCJD technology, a $10 million malaria deal for BC-based Artepharm and a new name (Medwell Capital) to go along with BioMS’ new business model. Read more of this post

Monday Biotech Deal Review: June 28, 2010

We follow a number of trends here at the blog, and two of them showed up as Canadian deals this week. Add those to the Biovail-Valeant merger, Æterna’s offering and a whole slew of commercial deals, and it’s been a pretty big week in Canadian deal-making.

check it out after the jump…

Monday Biotech Deal Review: March 22, 2010

Bought deals are all the rage this week, with BioExx and Osta Biotechnologies both heading in that direction.  Also, everywhere we look, warrants are being exercised and debentures are being converted. We even noted the green shoots of a new Canadian listed biotech company poking through the ground via a CPC transaction.  Is there a Spring thaw in Canada’s biotech capital markets?  Read more of this post

Monday Biotech Deal Review: February 15, 2010

A busy Monday Deal Review is headlined by Labopharm and ProMetric on the securities front, MDS’ final divestiture on the M&Eh front and Biovail and Bioniche on the licensing front, and there’s lots more activity behind those for over $100 million of deals.  Check out all the details (and the witty headlines) after the jump…

MDS Selling Its Analytical Technologies Business for $650 million, Intends to Sell Pharma Services Business Next

Yesterday, MDS Inc. (TSX: MDS; NYSE: MDZ) signed an agreement to sell its “analytical technologies” business to Danaher Corporation (NYSE: DHR) for $650 million cash.  Two major shareholders, collectively holding 23%, have signed voting support agreements supporting the sale.  The shareholders meeting is planned for October, with closing later in Q4.  Assets include 1,100 employees operating in 10 countries. Danaher will also purchase part of a mass spectrometry joint-venture partnership from Life Technologies Corporation, each purchase conditional on the closing of the other.

MDS’ strategic review was triggered in part by the Chalk River reactor shut-down.  It is also putting its “pharma services” business on the block, and in July it closed the sale of its Phase I-IV services business. If the sale of analytical technologies and pharma services go through, only the isotope business will be left. 

MDS “intends to return approximately $400 million to $450 million of the sale proceeds to its shareholders” and will presumably aim for a similar outcome from the pharma services sale.

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Monday Deal Review: June 22, 2009

B&W_BigNickelA whole gaggle of securities deals, a cluster of licenses and a flock of M&A all migrate back to Canada for summer in this week’s Monday Deal Review.  Plus, a deal that may improve the medical isotope shortage.   after the jump…

Medical Isotope Shortage Looms as Canada’s Chalk River Reactor Shuts Down

683px-Schematicky_atomAccording to a CBC News report today, Canada’s Chalk River nuclear reactor was shut down for a power outage last Thursday, and Friday inspectors noticed a heavy water leak at the base of the reactor.  The month-long shut down that will be needed for repairs means that only one reactor in the world, the HSR reactor in the Netherlands, will be producing medical isotopes.  The Netherlands reactor can only service about one-third of global demand, and much of its output is committed outside of North America under existing supply contracts.

Because the isotopes have a short half-life, they cannot be stockpiled and the shortage will begin to affect diagnostic capacity by this weekend.  Reactors in Belgium, France and South Africa are currently shut down as well.

A long-term solution may be available, if a joint effort by Canada’s TRIUMF accelerator lab and Ottawa-based medical isotope supplier MDS Nordion succeeds in trying to make the primary isotope (molybdenum–99) in a linear accelerator instead of in nuclear reactors. However, construction on the project doesn’t start until next year, and the first tests would not be until 2013.

An apparently similar effort is underway in a recently-announced collaboration between an Idaho company and Idaho State University.

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