The Cross-Border Biotech Blog

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

Tag Archives: Patheon

Monday Biotech Deal Review: December 6, 2010

Welcome to your Monday Biotech Deal Review.  There was some activity with Angiotech last week, with extension agreements being executed extending certain deadlines dealing with Angiotech’s proposed recapitalization as well as a preliminary loss in court against Rex Medical L.P.  Read on to learn more, as well as your usual assortment of biotech news. 

Monday Biotech Deal Review: June 14, 2010

This week saw a series of transactions bringing Patient Home Monitoring to the TSXV with an accompanying private placement and a shiny new SEDA from (who else) Yorkville; ConjuChem is (pending court approval) on its way out of CCAA with some cash on hand; and the struggle between Northstar and its ex-CEO continues in the [...]

Monday Biotech Deal Review: May 3, 2010

I guess the excitement of BIO was driving deals this week. To the delight of the economic development folks, government was in on the action — Ontario announced a BIP investment and announced a whole new strategy, and OICR funded three equity deals. The private sector was also out in force, with four new licensing deals [...]

Monday Biotech Deal Review: April 12, 2010

This week deals are back in full force, despite the fact that Tengion’s IPO was less popular than expected and Neovacs scaled back its planned IPO.  Highlights include Patheon raising $280 million from its note placement, Verio Therapeutics getting phagocytosed by Fate (but remaining in Ottawa) and Lorus Therapeutics’ F-1 filing for a $17.5 million unit [...]

Monday Biotech Deal Review: January 18, 2010

Another strong week for Canadian deals. Light on securities, but heavy on M&A, licensing and partnerships.  MedGenesis and Cyplasin brought assets in, Canada and Australia are doing a do-sa-do (Topigen-Pharmaxis, YM-Cytopia), and Trillium Therapeutics signed an out-license to Biogen, while Medicure is shopping its lead program around.  Less good news for Haemacure and Forbes Medi-Tech, but plenty of other [...]

Monday Biotech Deal Review: December 7, 2009

This was a fairly busy week for Canadian biotech deals, including a new brain-y collaboration for MaRS; peace at Patheon; some overallotment and some underallotment; some diversification by Canadian pharma (even if not on quite the scale of Pfizer’s deal with Protalix); and some trans-Atlantic acquisitiveness of a Canadian company’s own devicing [sic., sorry].  Don’t [...]

Monday Biotech Deal Review: September 28, 2009

Lots of deal news this week, including the Canadian action noted at the time: the iCo-CPDD deal and ethica’s in-license transaction.  Plus there was plenty of international excitement today (repentance notwithstanding) with Abbott’s $6.6 billion Solvay play and J&J’s new 18% stake in Crucell.  Keep reading for a securities-palooza and plenty more

Update Released by Patheon’s Special Commmittee

Patheon’s Special Committee provided an update today: “The Special Committee of Independent Directors of Patheon Inc. … today provided an update on its discussions with Lonza Group AG … regarding Lonza’s previously announced non-binding proposal to acquire all of the outstanding restricted voting shares of the Company at a price of US$3.55 per share. The [...]

Patheon Special Committee Responds to JLL Statements

Patheon’s special committee issued a press release today in which it: “commented … on the recent expiry of the unsuccessful bid by JLL … and recent statements by JLL regarding the previously announced proposal by Lonza … to acquire all of the outstanding Shares at a price of US$3.55 per share.”

Monday Deal Review: August 24, 2009

This week saw a few headline deals that we covered at the time, including the Vasogen-Cervus-IntelliPharmaCeutics deal, the move by Takeda Canada to take back ACTOS rights from Lilly, and the Lonza offer for Patheon, but other than that it seems like it was a quiet week everywhere. Still, check out some good stuff

Lonza Offers $460 Million for Patheon, JLL Rejects

JLL Partners’ long-standing bid for Patheon took a turn this morning as Lonza Group AG announced their own bid. Here’s Lonza’s press release. Here’s JLL’s response, rejecting the offer. Stay tuned…

Monday Deal Review: August 17, 2009

In addition to the highlights already noted — Enobia’s $50 million r0und, and the LOM – BioQuest joint venture — there was plenty of other Canadian deal activity this week.  Check it out

Globe and Mail Story on Patheon-JLL Battle

Boyd Erman at the Globe and Mail wrote about JLL’s long battle for Patheon in this morning’s paper, following yesterday’s dueling press releases (which I tweeted about @crossborderbio, also appearing to your right on this blog).  Particularly if you’re new to this saga, I encourage you to read the whole article; but for those who [...]

Monday Deal Review: July 20, 2009

This week’s deal review has some more info about Ambrilia’s deal with Kotinos that I tweeted about at the time (my Twitter stream shows up in the sidebar on the right here), as well as an update on JLL-Patheon and a raft of securities deals, including an issuer bid

Monday Deal Review: June 22, 2009

A 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.  

Monday Deal Review: June 8, 2009

Well, it’s a day late, but no dollars short.  Here is an action-packed Deal Review.  Read on for some debt settlement, some creditor un-settlment (a BIA filing), and all kinds of M&A related rejigging…

Patheon and JLL Head (Back) to Court

If you’ve been following the Canadian takeover saga that is JLL Partners’ bid for Patheon, you’ll be not at all surprised to learn that litigation is now pending.  Read all the gory details from today’s announcement by Patheon’s Special Committee of Independent Directors

Monday Deal Review: May 25, 2009

This week’s deal review has a couple of new placements, a couple of new plants, a very interesting claim asserted in Boston, and many, many updates on deals we have previously covered.  Check out the full review

Monday Deal Review: May 11, 2009

Check out the latest Patheon-JLL developments, a licensing deal that looks like a subcontracting arrangement, a plan of arrangement M&A that looks like a license, and the rest of the Canadian deal info from this past week

Monday Deal Review: May 4, 2009

Canadian deal and company news this week: Big drama at Patheon’s AGM, a public offering (!), some collaboration news and a completed private placement.

Monday Deal Review: April 27, 2009

Biotech deal activity in Canada was back on the upswing a bit this week, with some private placements, issuer bids, and an equity line of credit…

Monday Deal Review: April 20, 2009

A relatively quiet week for the deal review this week…

Monday Deal Review: April 13, 2009

M&A, scads of securities, and a real, live IPO in the Canadian deal news this week.

Wednesday Brain Dump: Deal-O-Rama Edition

There’s still plenty of deal activity in the pharma and biotech sector this week, even outside Canada, so here’s a roundup of what’s done, what’s pending and what’s in the rumor mill:

Monday Deal Review: March 30, 2009

Canadian deal and company info from this week

Monday Deal Review: March 16, 2009

M&A: We already noted the JLL bid for Patheon this week, and the Patheon Special Committee’s response.  It turns out that JLL has been a busy enterprise lately, extending the expiration on a bid for PharmaNet Development Group, Inc. (Nasdaq: PDGI). Partnering: MedMira Inc., (TSX-V:MIR, NASDAQ: MMIRF), which has been active on the securities front with a [...]

Patheon Special Committee Bites its Thumb at JLL’s Bid. Clubs, Bills and Partisans to Follow!

Following JLL’s commencement of its bid for Patheon yesterday, Patheon’s Special Committee released its response this morning advising shareholders that JLL’s offer is “substantially undervalued, opportunistic and structurally coercive.” Patheon shares closed up slightly at $2.55 (up 0.79% from $2.53 yesterday), approximately matching the gains made by the Canadian dollar (up 0.55% today).  JLL’s bid [...]

Canadian M&A Update: JLL Commences Patheon Bid at USD$2.00 per share

JLL Partners’ bid for Patheon Inc. (TSX: PTI), which has been brewing since December at the same USD$2.00 price, turned into a takeover bid today, with JLL announcing the lockup of shareholders holding 12,581,766 (about 13.8% by my calculation) of the subject shares.  As we noted in the Monday Deal Review February 23, Patheon has [...]

Monday Deal Review: February 23, 2009

Canadian deals and company info this week

Wednesday Brain Dump: February 4, 2009

Some good news on the gene therapy front in adenosine deaminase-deficient SCID patients and in rheumatoid arthritis. But mostly bad news on the job front at GSK, AstraZeneca,  Abbott,  GenVec, Patheon, and others. Other good news on the approvals front for Parusgel (despite process concerns), Kapidex, Lamictal, Gelnique and Taxus Liberte. Really small news: Nanomaterials may be heading for [...]

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