Welcome to your Monday Biotech Deal Review for June 1st, 2015!
ProMetic Life Sciences was very active in this last week of May. The Laval, Québec based company announced the acquisition of Emergent Bio Solutions in addition to the receipt of over $7.5 million from the exercising of an over-allotment option from a previous securities offering.
Continue reading for more details on these stories as well as the rest of the week’s Biotech highlights in the Monday Deal Review!
ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF) (“ProMetic” or the “Corporation”) has entered into an agreement for the acquisition of Emergent BioSolutions (“Emergent”) plasma collection center located in Winnipeg, Canada. The transaction is subject to customary closing conditions. The plasma collection center will start operating under ProMetic’s ownership upon granting of the regulatory licenses, in ProMetic’s name, by the requisite regulatory authorities. All existing center employees will then transition to be employed by ProMetic.
Quantum International Income Corp. (“QIIC”, or the “Company”) (TSXV:QIC), a North American healthcare company focused on delivering integrated health solutions has created a purpose built subsidiary, Quantum Anesthesia Management LLC (“QAM”) to acquire all the common shares of DA Management Corp. (“DA” “the Transaction”). DA Management Corp. is an anesthesia company with anesthesia administration contracts at all NYC Surgical Associates (“NYCSA”) facilities in New York, New Jersey and the initial Centers for Special Surgery (“CSS”) facility in Essex County. QIIC will issue 9 million shares (the “the Consideration Shares”) to DGAT Partners, LLC, a related party of NYCSA and the owner of all of the Common Shares of DA as consideration for this transaction. The Transaction is subject to TSXV approval and is expected to close on or around June 2, 2015.
QHR Corporation (the “Company”)(TSX-V:QHR), a leader in the healthcare information technology sector, announced that its wholly owned subsidiary QHR Technologies Inc. (“QHR”) has entered into a binding agreement to purchase all of the healthcare assets of Jonoke Software Development Inc. (“Jonoke”), including its proprietary Electronic Medical Record (“EMR”) software and its clients. The all-cash purchase price is tied to an earn-out paid over a period of time during which QHR and Jonoke will be working together to transition Jonoke’s clients to QHR’s Accuro®EMR system. The earn-out is estimated to be under $500,000 over a three year period.
ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF), (“ProMetic” or the “Corporation”) is pleased to announce that it has received a notice of exercise of the over-allotment option (the “Over-Allotment Option”) to acquire an additional 2,887,500 common shares (the “Over-Allotment Shares”) at a price of $2.60 per Over-Allotment Share, for gross proceeds of $7,507,500 from the syndicate of underwriters led by Canaccord Genuity Corp., and which included RBC Dominion Securities Inc., Beacon Securities Limited, TD Securities Inc. and Paradigm Capital Inc. (collectively, the “Underwriters”). The Underwriters were granted the Over-Allotment Option in connection with the previously announced bought deal offering of common shares of the Corporation, which closed on May 6, 2015. Closing of the Over-Allotment Option is expected to occur on or about May 28, 2015.
Generex Biotechnology Corporation (OTCQB:GNBT) announced that it has entered into a Memorandum of Understanding with NHTherapeutics, Inc. pursuant to which the companies will co-develop a formulation for the delivery of Leuprolide into the human body via the buccal mucosa using the Generex proprietary RapidMist™ buccal drug delivery system. The Generex proprietary RapidMist™ drug delivery platform technology administers active pharmaceutical ingredient via aerosolized metered dose spray into the mouth for rapid absorption by the buccal mucosa.
EastGate Biotech Corp. (OTCBB: ETBI), an emerging pharmaceutical company aimed at utilizing drug delivery innovations in the development of improved novel formulations and alternative dosage forms of existing biologically active molecules, has announced today its collaboration with the University of Guelph, Department of Molecular and Cellular Biology. The collaboration involves evaluation of the antimicrobial activity of the company’s natural antibacterial products, Cleanezze™ and VClean™.
Aeterna Zentaris Inc. (NASDAQ:AEZS) (TSX:AEZ) (the “Company”) today announced that it has received written scientific advice from the European Medicines Agency (“EMA”) regarding the further development plan, including the study design, for the new confirmatory Phase 3 clinical study of Macrilen™ (macimorelin) for use in evaluating adult growth hormone deficiency (“AGHD”), following a Scientific Advice Meeting that was held earlier this month. As a result of the advice, the Company believes that the confirmatory Phase 3 study that was discussed with the U.S. Food & Drug Administration (“FDA”) last March, meets the EMA’s study-design expectations.
Ontario is investing in a new Canadian Centre for Aging and Brain Health Innovation at Baycrest Health Sciences. This investment will support projects that enable healthier brain aging, allow seniors to live at home longer and reduce health care costs by providing better care solutions. Ontario Premier Kathleen Wynne made the announcement today during a visit to Baycrest with Minister of Research and Innovation, Reza Moridi. As proposed in the 2015 Budget, the government will contribute $23.5 million over five years to establish the new centre, which will combine all of Baycrest’s brain research, clinical and educational programs into one national hub.
MYOS Corporation (“MYOS” or the “Company”) (NASDAQ:MYOS), an emerging biotherapeutics and bionutrition company focused on the discovery, development and commercialization of products that improve human muscle health and performance, announced today that Health Canada, has reviewed and approved Fortetropin®, the Company’s proprietary ingredient, for sale in powder dose form in Canada. Fortetropin is the first fertilized egg yolk powder ingredient to be approved by Health Canada and issued a Natural Product Number.