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Med BioGene closes $Cdn1.6mm private placement
16 Jul 2009
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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Med BioGene closes $Cdn1.6mm private placement
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