ProMetic gets $13 million loan and equity injection from Abraxis

ProMetic Life Sciences (TSX:PLI) has closed a $13 million (U.S.) financing deal with Abraxis BioScience (NASDAQ:ABII) of Los Angeles. “These funds, coupled with our revenue growth, place ProMetic on a strong financial footing,” CEO Pierre Laurin said in a statement. “What is great about this loan is that its repayment structure allows management to focus [...]

ProMetic in development accord with Abraxis

ProMetic Life Sciences (TSX:PLI) and Abraxis BioScience (NASDAQ: ABII) of Los Angeles have entered into a collaboration agreement to develop and commercialize various applications using ProMetic’s prion capture technology platform to improve the safety profile of blood-derived therapeutics. Under the accord, both companies will equally share the cost for the development of new applications as well [...]