Migenix to reorganize and get non-dilutive financing

Migenix (TSX:MGI) has entered into a plan of arrangement with Madison Pacific Properties (TSX:MPC.C) to reorganize the drug developer, with Madison injecting $4 million into Migenix. Under the plan, Migenix will transfer all of its operations and proceeds of the new financing to BioWest Therapeutics, a new subsidiary that intends to retain Migenix’s listing on [...]

Isotechnika amends deal with Paladin Labs

Isotechnika Pharma’s (TSX: ISA) wholly owned subsidiary, Isotechnika Labs, has amended its agreement with Paladin Labs (TSX:PLB) on the remaining stake in the revenue stream from the Isodiagnostika business, which was sold to Paladin in mid-2009. Under the original deal, Isotechnika Labs was entitled to receive a revenue stream equivalent to 88% of the net [...]

Medicago to present at WHO meeting

Medicago (TSX:MDG) will present its Phase 1 clinical findings of the first plant-made influenza vaccine to be tested in humans at a meeting this week of the World Health Organization, evaluating pandemic influenza prototype vaccines in clinical trials. “It is a privilege to be among a select group of leading vaccine companies invited to present [...]

Merck advances $25 million to Cardiome

Cardiome Pharma (TSX:COM; NASDAQ:CRME) has tapped a $25 million (U.S.) advance from marketing partner Merck & Co. (NYSE:MRK) under a previously announced secured, interest-bearing credit facility of up to $100 million. In a statement, Cardiome said it may, at its option, repay all or a portion of the advance from time to time without premium [...]

Second U.S. patent awarded to GeneNews

GeneNews (TSX:GEN) was granted a second U.S. patent for its core Sentinel Principle platform technology, covering its application in any health management context, including diagnosis, staging of disease, drug testing, monitoring response to treatment and biomarker screening. “Together, these two patents form a strong foundation for our IP, protecting the application of our Sentinel Principle [...]

In conversation with Gord Froehlich

After a 25-year stint with Monsanto Canada, where he rose to vice president, Gord Froehlich moved seamlessly into Kane Biotech (TSX-V: KNE) as VP of Business Development and then into the executive suite in 2006. While there is a myriad of differences between a biotech start-up and a global ag-biotech giant, Mr. Froehlich contends that [...]

Microbix completes $1.3 million private placement

Microbix Biosystems (TSX:MBX) has closed a $1.3 million private placement by issuing 3,714,286 common shares at a price of 35 cents each.  The stock closed at 35 cents last Friday. “We felt it was prudent to strengthen our balance sheet while finalizing our partnering arrangements,” CEO William Gastle said in a statement, adding that proceeds [...]

DiagnoCure restructures into 2 segments

DiagnoCure (TSX: CUR) has announced a reorganization into two business segments — an administrative headquarters in Quebec City to hold its patents and DiagnoCure Oncology Laboratories, its U.S. sales, marketing and service laboratory operations. As part of the realignment, CEO John Schafer will relocate to the U.S. to lead the commercialization of the Previstage GCC [...]

Wex considering CMO to make Tetrodotoxin

Wex Pharmaceuticals (TSX:WXI) is considering transferring the production of its Tetrodotoxin drug candidate from Nanning, China to a contract manufacturing outsource company. In a statement, Wex  said it expects to finalize the assessment of this possible transfer and its accounting implications during 2010.  The company is changing its yearend to Dec. 31 from March 31, effective [...]

Bioniche shares jump 34% on Endo taking up global rights

Shares of Bioniche Life Sciences touched a 52-week high on the Toronto Stock Exchange Friday after marketing partner Endo Pharmaceuticals elected to exercise its option for exclusive global rights to develop and market Bioniche’s non-muscle-invasive bladder cancer product. As a result, Endo (NASDAQ:ENDP) will all assume all external development expenses for the product, Bioniche (TSX:BNC) [...]

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