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Med BioGene closes $Cdn1.6mm private placement

Executive Summary

Molecular diagnostics company Med BioGene grossed $Cdn1.6mm ($1.4mm) through a two-tranche sale of 20mm units for $Cdn0.08 apiece (a 17% premium) to an investor group led by Berkeley Capital (which purchased almost half of the placement). Each unit consists of one common share and one-half one common share purchase warrant, with each whole warrant allowing the holder to buy a share for $Cdn0.10 over the next two years. Med BioGene will use the proceeds for development and sale of its LungExpress Dx gene-expression based test for early-stage non-small cell lung cancer.
Deal Industry
  • In Vitro Diagnostics
  • Pharmaceuticals
  • In Vitro Diagnostics
    • Molecular Diagnostics & Genetic Testing
  • Biotechnology
    • Pharmacogenetics-Pharmacogenomics
    • Drug Discovery Tools
      • Genomics-Proteomics
Deal Status
  • Final
Deal Type
  • Financing
    • Private Investment in Public Equity
    • Private Placement

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