IMRIS and Siemens in long-term OEM pact

IMRIS (TSX:IM) has signed a new master OEM agreement with Siemens Healthcare to support its continued growth and expansion of image-guided therapy solutions. Under the five-year accord, which renews and amends an earlier arrangement between the two companies, Siemens will supply magnetic resonance imaging scanners and angiography systems as component parts for IMRIS’ fully integrated [...]

Lorus posts positive Phase 2 leukemia results

Lorus Therapeutics (TSX:LOR) has obtained “favourable results” after successfully completed a Phase 2 trial with its LOR-2040 antisense drug candidate, in combination with cytarabine, in patients with acute myeloid leukemia (AML). The Steering Committee review determined that the phase 2 efficacy and safety results fulfilled the protocol criteria for continued patient enrolment and are consistent [...]

Kane Biotech increases size of financing

Kane Biotech (TSX-V:KNE) raised the size of its previously announced private placement to a maximum of 4,335,500 units from 3,846,154 units for total proceeds of  up to $563,615.  Net proceeds will be used for the company’s research and development program, and for working capital, Kane said in a statement. Each unit consists of one common [...]

RBC ups QLT to “outperform”

Calling QLT’s litigation settlement with Massachusetts General Hospital over Visudyne royalties “better than we had anticipated,” RBC Capital Markets upgraded QLT to “outperform” from “sector perform” and raised its target price to $6 (U.S.) from $4.50. The stock (NASDAQ: QLTI; TSX: QLT) finished trading at $4.50 on Wednesday. Analyst Doug Miehm writes that at the [...]

Labopharm in $25-million standby equity pact

Labopharm (TSX:DDS ;NASDAQ: DDSS) has arranged a standby equity distribution agreement with YA Global Master SPV, a fund managed by Yorkville Advisors, whereby YA would purchase up to $25-million of newly issued Labopharm common stock during the next three years, at Labopharm’s discretion. “With a number of potential cash-generating milestones on the horizon, a standby equity [...]

QLT settles MGH litigation

QLT (TSX: QLT; NASDAQ: QLTI)  has settled its dispute with Massachusetts General Hospital over Visudyne royalties. Under the litigation settlement, QLT will pay MGH $20-million (U.S.) for all past and future royalty obligations under a license agreement between the two parties, in exchange for the dismissal of MGH’s lawsuit against QLT, pending court approval. Under [...]

DiagnoCure’s one, two punch against cancer

There is much talk these days about personalized medicine, but John Schafer likes to call it personal diagnostics. “I’m not trying to use my (molecular) test to make a drug, although you can and pharmaceutical companies are doing that,” the CEO of DiagnoCure (TSX:CUR) says in an exclusive interview with biotuesdays.com. “What I am using [...]

RBC still sees IMRIS profitable in 2010

RBC Capital Markets has revised its financial model of IMRIS (TSX:IM) after a recent equity offering and a slightly higher than expected third quarter loss, largely resulting from a foreign exchange loss in the quarter. The brokerage raised its estimate of IMRIS’ loss this year to 35 cents a share from 30 cents, but reiterated [...]

British agency recommends ProMetic’s blood filter

ProMetic Life Sciences Inc. (TSX:PLI) and MacoPharma won the nod of an advisory committee on the safety of blood, tissues and organs, an independent committee that advises Britain’s Department of Health, for adoption of the P-Capt prion reduction filter to pre-treat red blood cells destined for children born since 1996. The filter, which cleans blood [...]

Thallion reports data on cancer-killing TLN-4601

Thallion Pharmaceuticals (TSX:TLN) presented non-clinical data on TLN-4601, a proprietary small molecule with the potential to treat multiple tumour types, at cancer therapeutics conference in Boston. “These results highlight the ability of TLN-4601 to rapidly induce cell death in a hematologic tumour cell line and expand our understanding of TLN-4601 beyond its inhibition of the [...]

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