The Cross-Border Biotech Blog

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

Monday Deal Review: May 18, 2009

bignickel1A fairly quiet week on the deal front, but if Becton Dickinson can sell $750 million of 10- and 30-year notes just for the heck of it, things in the market can’t be too bad, right?  Here’s what I saw on the wires this week…

Public Offering:

Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCYclosed the full amount and the full over-allotment of its unit offering that we noted a couple of weeks ago at launch, for gross proceeds of $6.9 million.

New NRC-BRI Project:

DNP Green Technology announced a scientific agreement with the National Research Council of Canada Biotechnology Research Institute (NRC-BRI). This partnership aims to develop a second-generation technology for the production of bio-based succinic acid, which is used in various industrial applications. DNP Green Technology and Agro-Industrie Recherches et Développements (ARD) have a joint venture, Bioamber, which has already developed a first-generation technology for producing bio-based succinic acid, which it expects to begin licensing in the coming year.

Funding with Strings Attached:

Akela Pharma Inc. (TSX: AKL) is recording a charge based on a demand by Tekes, the Finnish Funding Agency for Technology and Innovation, for repayment of certain grants obtained by Akela in 2004 and 2005 totaling US$1,544,000.  Following Akela’s decision to down-size its Finnish operations in the summer of 2007, Tekes made a demand for repayment of the grants, together with interest. The loans remain outstanding on the original repayment schedule.


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2 responses to “Monday Deal Review: May 18, 2009

  1. mel0818 May 26, 2009 at 10:04 am

    Nice to hear this. Money matters always. This site might also be helpful. Thanks.

  2. Pingback: Monday Deal Review: July 6, 2009 « The Cross-Border Biotech Blog

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