Dealmakers

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An agreement between Inex Pharmaceuticals Corp. (Vancouver, BC) and GlaxoSmithKline (GSK) (Middlesex, U.K.) has been terminated by GSK. The agreement was made in 2001 with the goal of developing GSK’s anticancer drug, topotecan hydrochloride, with Inex’s proprietary liposomal drug-delivery technology. Although preclinical studies have been completed, technical problems in manufacturing have delayed clinical development.
Ceapro Inc. (Edmonton, AB) has entered into an exclusive distribution agreement for its dermal animal health products. Under the three-and-a-half year agreement, Aventix Animal Health Corp. (Flamborough, ON) will market Ceapro’s products under the Avena Sativa All Natural label in six regions covering most of Canada.
Two new agreements have been completed for the distribution of Medical Ventures Corp.’s (Richmond, BC) Metricath™ System. Metricath products will be distributed by Grant Medical Inc. (Tottenham, ON) in Canada, and by AMI Technologies Ltd. (Hod Hasharon, Israel) in Israel. The Metricath System is a catheter-based technology that enables assessment of stent deployment and accurate measurement of arterial size during angioplasty procedures. It is produced by Medical Ventures’ subsidiary Angiometrx Inc. (Vancouver, BC).
Isodiagnostika Inc., a wholly owned subsidiary of Isotechnika Inc. (Edmonton, AB), has acquired Altachem Pharma Ltd.’s (Edmonton, AB) breath-kit manufacturing business for a $300,000 upfront payment and $200,000 in future royalty payments on kits produced. Isodiagnostika currently has two breath-based diagnostic kits: the Helikit™ for the detection of Helicobacter pylori, and the Diatest™ for the detection of insulin resistance.
SFBC International Inc. (Miami, FL) has acquired Taylor Technology Inc. (Princeton, NJ) for approximately $20.9 million in cash and stock, and has announced plans to establish a 10,000 square-foot state-of-the-art LC-MS-MS lab at the Toronto facility of SFBC International’s wholly owned subsidiary SFBC Anapharm. These two developments will augment SFBC International’s bioanalytical service capabilities.
Biophage Pharma Inc. (Montreal, QC) has closed a $552,030 private placement that involved issuing 5,307,981 common shares and warrants to purchase up to 1,592,395 common shares. The proceeds will be used to further develop products, and for working capital.