Closings

Zymeworks Completes Acquisition of Kairos Therapeutics Creating a Leader in Biologics Drug Discovery and Development

Zymeworks Announces $61.5 Million Financing to Support the Clinical Development of its Pipeline of Azymetric™ Antibody Therapeutics

VANCOUVER, British Columbia-Zymeworks Inc., a leader in the development of bi-specific and multi-specific antibodies, announced today that it has completed the merger and acquisition of Kairos Therapeutics, specialists in the discovery and development of antibody drug conjugates (ADCs), spun out of The Centre for Drug Research and Development (CDRD). The integration of Kairos’ technology and pipeline with Zymeworks’ research platforms creates one of the industry’s leading biologics drug discovery and development organizations. With the completion of the acquisition, a number of Kairos staff will join Zymeworks, including John Babcook, President & Chief Scientific Officer of Kairos, who will join Zymeworks as Senior Vice President of Discovery Research.

“The completion of this merger is a transformative event for both Zymeworks and Kairos, and brings us closer to our goal of delivering life-changing medicines to patients who need better options”

Along with key scientific talent, the Kairos acquisition provides Zymeworks with a proprietary next-generation antibody-drug conjugate platform based on novel toxin, linker, and site-specific conjugation technology. This platform is synergistic with Zymeworks’ Azymetric™, AlbuCORE™, and EFECT™ technologies and will enable the design of highly targeted and potent bi-specific antibodies and multivalent protein therapeutics across a range of indications. The Kairos platform has the potential to be a key enabler of personalized medicine as it allows for the development of therapeutics that target cancer with increased potency and efficacy, while reducing toxic side-effects.

Zymeworks is transitioning to a clinical stage company, with its two lead compounds nearing first-in-human clinical trials. In addition to its platform technology, Kairos brings a pipeline of partnered ADCs targeting novel cancer targets with the potential to move into clinical development in the near term.

“The completion of this merger is a transformative event for both Zymeworks and Kairos, and brings us closer to our goal of delivering life-changing medicines to patients who need better options,” said Ali Tehrani, Ph.D., President and Chief Executive Officer of Zymeworks. “Combining Kairos’ superior ADC technology with our platforms, scientific experience, and resources positions us as a clear leader in the field of biotherapeutics with tremendous potential to discover and bring forth new medicines.”

“The Kairos team is excited to complete the merger with Zymeworks and bring together protein engineering, ADC, and bi-specific antibody technologies that will significantly enhance our ability to create innovative medicines that make a meaningful impact to lives of patients,” said Babcook. “We believe that by combining forces we will be able to expedite the development of a pipeline of best-in-class therapeutics. I also want to recognize the pivotal role CDRD played in enabling the development of this technology. Their platform is proving invaluable in creating and supporting a new generation of leading life sciences companies.”

The combined company will continue to be headquartered in Vancouver. Financial details were not disclosed.

John Babcook has more than 20 years of experience in biomedical research and biologics, as well as first-hand experience commercializing these technologies. Earlier in his career, Babcook led the development of the Selected Lymphocyte Antibody Method (SLAM™), a novel strategy to generate monoclonal antibodies from single, isolated lymphocytes. Based on this technology, he co-founded ImmGenics Pharmaceuticals, Inc., which was acquired by Abgenix and subsequently Amgen, where he led the Canadian research team, specializing in creating therapeutic antibodies. During his career, Babcook has worked to advance more than 100 therapeutic antibody-based programs, 11 of which are currently in clinical development, including three antibody-drug conjugates.

Babcook also led the establishment of the Biologics Division at CDRD where he has served as VP Biologics. He is currently an Adjunct Professor in the department of Molecular Biology and Biochemistry at Simon Fraser University. He is the recipient of the LifeSciences British Columbia “Innovation and Achievement” Award and of an Honorary Doctorate from the British Columbia Institute of Technology for his significant scientific and business-related contributions to the biotechnology industry.

About Zymeworks Inc.

Zymeworks is a privately held biotherapeutics company that is developing best-in-class Azymetric™ bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases. The company’s novel Azymetric™, AlbuCORE™, and EFECT™ platforms, its Zymelink™ conjugation platform and cytotoxins, and its proprietary ZymeCAD™ structure-guided protein engineering technology, enable the development of highly potent bi-specific antibodies, multivalent protein therapeutics, and antibody drug conjugates across a range of indications. Zymeworks is focused on accelerating its preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations. More information on Zymeworks can be found atwww.zymeworks.com.

Zymeworks Announces $61.5 Million Financing to Support the Clinical Development of its Pipeline of Azymetric™ Antibody Therapeutics

Zymeworks Announces $61.5 Million Financing to Support the Clinical Development of its Pipeline of Azymetric™ Antibody Therapeutics

VANCOUVER, British Columbia–(BUSINESS WIRE)–Zymeworks Inc. today announced the closing of a US$ 61.5 million Series A mezzanine financing to support the advancement of its Azymetric™ therapeutics pipeline. The financing was supported by a syndicate of U.S. and Canadian institutional investors, including all existing institutional and strategic investors.

The financing was co-led by new investors BDC Capital and Lumira Capital, and joined by existing Zymeworks investors Eli Lilly and Company, Celgene, CTI Life Sciences Fund, and the Fonds de solidarité FTQ. New investors in the financing include Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund, Brace Pharma Capital, Merlin Nexus and others. Proceeds of the financing will support clinical development of Zymeworks’ lead therapeutic candidates, ZW25 and ZW33, which the Company plans to move into clinical development later this year.

Dion Madsen, Senior Managing Partner in BDC Capital’s Healthcare Venture fund will join Zymeworks’ board of Directors, and Dr. Daniel Hétu, Managing Director in Lumira Capital, will join as an observer.

“This financing provides Zymeworks the capital and resources to move multiple potentially game-changing therapeutic candidates not only into the clinic, but through to meaningful clinical inflection points,” said Dr. Ali Tehrani, President and Chief Executive Officer of Zymeworks. “Furthermore, this financing adds the experience of seasoned U.S. and Canadian biotech investors, and demonstrates the support of our existing strategic and institutional investor base as we look forward to the next stage in our growth and evolution as a leader in the field of bispecific and multivalent antibody therapeutics.”

Added Mr. Madsen, “BDC Capital is excited to provide acceleration capital to Zymeworks at this important time in the company’s evolution. The company is building the leading technology platform for targeted therapies and the addition of this capital enables the company to advance life enhancing therapies into clinical testing.”

Added Dr. Hétu, “The potential of Zymeworks’ science and technology are underscored by the significant commitments made by leading oncology companies and biotech investors. Having closely followed the progress of the company for many years, we are excited to be a part of Zymeworks’ growth as they further leverage the Azymetric™ platform and their pipeline to build an enduring company with the potential to help many patients.”

MTS Securities, LLC, an affiliate of MTS Health Partners, and BMO Capital Markets Corp. acted as advisors to Zymeworks in the transaction.

About Zymeworks Inc.

Zymeworks is a privately held biotherapeutics company that is developing best-in-class Azymetric™ bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases. The company’s novel Azymetric™, AlbuCORE™, and EFECT™ platforms, and its proprietary ZymeCAD™ structure-guided protein engineering technology, enable the development of highly potent bi-specific antibodies and multivalent protein therapeutics across a range of indications. Zymeworks is focused on accelerating its preclinical biotherapeutics pipeline through in-house research and development programs and strategic collaborations. More information on Zymeworks can be found at www.zymeworks.com.

PHEMI Closes $12.2 Million Venture Financing

PHEMI Closes $12.2 Million Venture Financing

Led by team of serial entrepreneurs, new financing will expand sales, marketing and engineering capabilities to bring privacy to big data

VANCOUVER, British Columbia–(BUSINESS WIRE)–PHEMI, the company delivering security, privacy and governance insights through the promise of big data, today announced it has raised a $12.2 million round of venture financing to expand the commercialization phase of the company. Secured by a combination of new and existing investors, the financing was co-led by CTI Life Sciences Fund (CTI) and British Columbia Discovery Fund (Discovery Capital). It also included significant participation from early investors BDC Capital Healthcare Venture Fund and Yaletown Venture Partners.

“The big data market represents a tremendous growth opportunity for PHEMI in a variety of industries”

A team of serial entrepreneurs, Dr. Paul Terry, Adam Lorant and John Seminerio—with expertise in developing and commercializing innovative business and technology solutions for a wide variety of industries, including healthcare, telecommunications and high-performance computing— joined Chris Thompson and Alan Rabinowitz, two St. Paul’s Hospital cardiologists, in their start-up called PHEMI. With its initial focus in the healthcare and life sciences sectors, PHEMI will expand its focus to include a variety of data-driven communities, including public sector, insurance and financial services.

“Enterprises of all sizes are recognizing the enormous opportunity for discovery and innovation buried in their data,” said Dr. Paul Terry, president and CEO of PHEMI. “Data growth is massive—smart devices, the digitization of healthcare, genomics and other omics data, and dataflow from various sources such as email and the Internet—businesses must be able to take advantage of big data to remain competitive. Organizations that can move quickly to unlock their data silos, transform them into digital assets, and share this information, while protecting privacy and security, will win. With this additional capital, PHEMI will expand our sales, marketing and engineering efforts to ensure our partners and customers can use all of their data to create value and innovate.”

Innovative companies are striving to be more data-driven. PHEMI helps them unlock and share data without compromising privacy. PHEMI combines the scale and performance of big data with features that support rigorous security and performance, so enterprises can turn their focus from collecting and storing data to using it strategically, deriving insights to drive operational efficiencies, fuel innovation for competitive advantage, and lower costs. With the new financing in place, PHEMI will expand the sales channel for its award-winning solution, extending their solution offerings and sales reach through application and system integrator partners and data science expertise.

Dr. Shermaine Tilley, managing partner at CTI Life Sciences Fund stated: “Healthcare IT is an exciting and new investment direction for CTI. PHEMI’s unique solution and highly accomplished leadership team are on a rapid path to commercialization and we expect them to exceed expectations for current and prospective customers.”

“The big data market represents a tremendous growth opportunity for PHEMI in a variety of industries,” said Charles Cook, CMA for Discovery Capital. “PHEMI shares our vision for serving this segment of the market with a turnkey solution that helps organizations address the dual challenges of gathering data for insights while ensuring data privacy and security. We look forward to working with them as they evolve the way enterprises deploy big data and accelerate the rewards.”

About PHEMI

PHEMI is a big data warehouse company that lets organizations easily access and mine any variety of data at any volume to drive insights that lower costs, improve outcomes, and allow better decisions faster. An Organizational Ambassador for Privacy by Design (PbD), PHEMI brings both privacy and performance to big data, along with the data management and control to ensure innovation, and privacy, security and governance. For more information visit http://www.phemi.com/ and follow us on Twitter.

About CTI Life Sciences Fund

CTI is a Montreal-based limited partnership making venture capital investments in high quality emerging life sciences companies at the start-up and development stage primarily in Canada. CTI has a diverse team of professionals in science and finance with extensive experience in the biotechnology and the pharmaceutical industries. The Fund works closely with entrepreneurs and researchers to increase the value of young companies. More information on CTI can be found at http://www.ctisciences.com.

About British Columbia Discovery Fund (VCC) Inc.

British Columbia Discovery Fund (VCC) Inc. was established to make venture capital investments in a portfolio of small businesses in British Columbia that qualify under the Small Business Venture Capital Act, focusing on all of B.C.’s top internationally recognized technology clusters: information technology (software and hardware); mobile technology (wireless and networking solutions); clean technology (alternative energy and energy-saving technology solutions); new media; and health and life sciences. To obtain further information about the Fund, please visit www.sedar.com or www.bcdiscoveryfund.com.

About BDC Capital

A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term.

BDC Capital’s Healthcare Venture Fund invests in transformative Canadian companies that will dramatically increase healthcare productivity by reducing healthcare costs while improving patient health. The experienced team manages $270 million in capital across two different funds and invests in drugs, devices, diagnostics and digital health sectors. For more information, please visitwww.bdccapital.ca/health.

About Yaletown Venture Partners

Yaletown Venture Partners invests in emerging-growth sustainability innovation and intelligent enterprise technology companies in Canada and the US Pacific Northwest. With offices in Vancouver, Calgary and Seattle, Yaletown is led by a team that brings together industry relationships and more than 130 years collective experience building and financing technology companies. Founded in 2002, Yaletown is backed by leading institutional investors and a network of successful technology entrepreneurs, executives, and angel investors. Find out more about Yaletown and our portfolio of companies at www.yaletown.com.

XTuit Pharmaceuticals Closes $22 Million Series A Financing to Advance Novel Microenvironmental Modulators for Cancers and Fibrotic Disorders

 

CTI Life Sciences Fund joins Polaris Partners and New Enterprise Associates in a $22 million Series A financing for XTuit Pharmaceuticals, Inc., a privately-held biopharmaceutical company developing therapeutics targeting disease-promoting microenvironment in cancer and fibrotic diseases.

This is the first investment from CTI Life Sciences’ second venture capital fund (CTI II), which had its first close of CAD$134.5M in November 2014. CTI had become interested in XTuit Pharmaceuticals’ approach to modulating the disease-inducing microenvironment of cancers and fibrotic disease – and the size of the deal meant therapeutics for both oncologic and fibrotic liver indications could be developed in parallel, rather than just one.

“There are multiple reasons why this deal makes so much sense for CTI,” said Janelle Anderson, Managing Partner at CTI Life Sciences. “Having worked with some of the founders previously we think very highly of them, XTuit has a trusted scientific advisor based in Montreal who is an expert in oncology, and the pre-clinical data for their therapeutic candidates have shown promising results in reversing disease progression”.

Proceeds from the financing will be used to advance the development of XTuit’s lead products into the clinic in oncology and liver cirrhosis and NASH and to build its biomarker platform which will enable rapid clinical proof-of-concept.

“We are excited to close our Series A round with a strong syndicate validating our novel therapeutic approach. The microenvironment represents an important new target for therapeutic intervention that could have profound implications in oncology and fibrotic disease,” said Alan Crane, Chief Executive Officer of XTuit. “This financing will enable us to demonstrate the activity of our lead products in human trials. Our objective is to show in clinical studies that we can significantly improve outcomes in oncology with immune checkpoint drugs as well as other cancer agents and that we can rapidly and significantly reverse fibrosis in liver cirrhosis and NASH.”

Xagenic Announces Second Closing of $25.5M Series B Financing

Toronto, ON (July 14, 2014) – Xagenic Inc., a molecular diagnostics company developing the first lab-free molecular diagnostic platform with a 20 minute time-to-result, announced today a second closing of its recently announced Series B financing, bringing the total raised in this round to $25.5 million. In conjunction with this closing, new investor BDC Capital joined as an investor and Dion Madsen, Senior Managing Partner at BDC Capital, will join Xagenic’s Board of Directors.
“Securing this additional financing from high-quality new and existing investors demonstrates confidence in the Xagenic X1™ platform. We look forward to continuing our development program in anticipation of our analytical and clinical study start later this year,” said Shana Kelley, Founder and CTO of Xagenic. “Our enzyme-free molecular diagnostic platform will provide significant advantages in patient care by bringing nucleic acid amplification test (NAAT)-like performance to the physician office with a testing time of 20 minutes.”
“We are delighted to add BDC Capital to our syndicate of top tier investors, and we are grateful for the continued commitment and support from our existing investors,” said Bruce Cohen, Xagenic’s Executive Chairman. “I am very pleased to welcome Dion Madsen to Xagenic’s Board of Directors.”
“Xagenic continues to execute on their plan to commercialize an easy-to-use, affordable, desktop molecular diagnostic system and menu of tests that have the ability to transform the way critical patient diagnoses are made,” said Jesse Treu of Domain Associates. “I look forward to working with Dion and the rest of the Board to enable the company’s innovative vision for healthcare.”
About Xagenic Inc.
Based in Toronto, Ontario, Xagenic is a privately held molecular diagnostics company developing a fully-automated molecular diagnostic platform that will enable lab-free testing with a time-to-result of 20 minutes. The company is developing a menu of infectious disease tests that will have a positive impact on patient care and reduce health care costs. The company is supported by private investors, including Domain Associates, CTI Life Sciences Fund, the Ontario Capital Growth Corporation and BDC Capital. Xagenic recently received the Frost & Sullivan 2014 Point-of-Care Diagnostics New Product Innovation Leadership Award. For more information, please visit http://www.xagenic.com.
About Domain Associates
Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an exclusive focus on investing in life science companies that advance human health. Domain’s focused network, deep experience, and dependable reputation have made it one of the top private-equity groups participating in healthcare investing. With more than $2.7 billion in capital raised, Domain invests in three major segments: pharmaceuticals, diagnostics, and medical devices. The partners of Domain have a total of more than 270 person-years of experience among them in the healthcare and venture capital industries and have been involved in the formation and growth of more than 250 life sciences companies. Representative past investments include Amgen, Amylin Pharmaceuticals, Cerexa, Biosite, Dura Pharmaceuticals, Pharmion and Volcano. Domain has offices in Princeton, N.J. and San Diego. For more information, please visit http://www.domainvc.com.
About CTI Life Sciences Fund
CTI is a Montreal-based limited partnership making venture capital investments in high quality emerging life sciences companies at the start-up and clinical development stage primarily in Canada. CTI has a diverse team of professionals in science and finance with extensive experience in the biotechnology and the pharmaceutical industries. The Fund works closely with entrepreneurs and researchers to increase the value of young companies. More information on CTI can be found at http://www.ctisciences.com.
About OETF
The Ontario Emerging Technologies Fund (OETF) is a direct investment fund established in 2009 by the Province of Ontario and administered by the Ontario Capital Growth Corporation (OCGC), an agency of the Ministry of Economic Development and Innovation. The OETF is a $250-million fund that co-invests alongside qualified investors in innovative, high-growth, private Ontario companies. The fund focuses on investments in Ontario companies in three sectors: clean technology, life sciences and advanced health technologies, and digital media and information and communications technology. For more information, please visit http://www.ocgc.gov.on.ca/.
About BDC Capital
A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term.
From venture capital to equity to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.

 

For more information, contact:
Xagenic Inc.
Shana Kelley, Ph.D.
Founder & Chief Technology Officer
shana.kelley@xagenic.com
1 (416) 363-1999 x400

Xagenic Inc. Closes C$10 Million Series A Financing

Toronto, January 30, 2012 – Xagenic Inc., a privately held molecular diagnostics company developing a new technology for decentralized, rapid diagnostic testing, today announced the close of a Series A financing totaling $10 million.  The financing was co-led by CTI Life Sciences Fund (CTI) and the Ontario Emerging Technologies Fund (OETF) with significant participation by QIAGEN N.V.. The funds will be used to develop a molecular diagnostic testing platform and lead tests designed for use in physician offices, clinics and hospital settings.

 

Xagenic Inc. is a University of Toronto spinout company based in downtown Toronto.  This round of financing builds on a $2.2 million seed round raised in 2010, led by MaRS Innovation. In conjunction with the closing of this financing, Dr. Shermaine Tilley and Mr. Richard Meadows, both of CTI, will be joining the Board of Directors.  Dr. Shana Kelley will remain on the Board and two independent directors will be named shortly.

 

“We are delighted to have attracted this strong syndicate of investors and look forward to working with them towards establishing Xagenic as a world leader offering rapid, on-demand diagnostic tests that will dramatically improve patient care and lower health care costs”, says Dr. Shana Kelley, CTO of Xagenic Inc. “In the past year, Xagenic has achieved a number of key milestones by effectively utilizing our seed financing.  The resources provided by this Series A syndicate will allow us to continue to execute our plan of delivering compelling solutions to healthcare’s most pressing diagnostic challenges.”

 

“Xagenic’s diagnostic testing system, which employs nanotechnology-based microelectrodes, promises to provide a breakthrough, robust solution to point-of-care testing without the need for nucleic acid amplification. We are pleased to co-lead this investment round and provide leadership in building the Company in the future”, says Dr. Shermaine Tilley, Partner, CTI.

 

About Xagenic Inc.
Xagenic Inc. is a molecular diagnostics company located in Toronto, Canada. The company is developing a fully automated technology platform that will enable widespread decentralized diagnostic testing to be performed outside of clinical laboratories. Tests are under development that will allow the detection of a variety of analytes in situations where rapid test turnaround will provide clinically actionable results that dramatically improve patient care and reduce health care costs.

 

About CTI Life Sciences Fund
CTI is a Montreal-based limited partnership making venture capital investments in high quality emerging life sciences companies at the start-up and clinical development stage primarily in Canada.  CTI has a diverse team of professionals in science and finance with extensive experience in the biotechnology and the pharmaceutical industries. The Fund works closely with entrepreneurs and researchers to increase the value of young companies. More information on CTI can be found at http://www.ctisciences.com.

 

About OETF
The Ontario Emerging Technologies Fund (OETF) is a direct investment fund established in 2009 by the Province of Ontario and administered by the Ontario Capital Growth Corporation (OCGC), an agency of the Ministry of Economic Development and Innovation. The OETF is a $250-million fund that co-invests alongside qualified investors in innovative, high-growth, private Ontario companies. The fund focuses on investments in Ontario companies in three sectors: clean technology, life sciences and advanced health technologies, and digital media and information and communications technology. For more information, www.ontario.ca/ocgc.

 

About QIAGEN N.V.
Qiagen is a leading provider of sample and assay technologies for molecular diagnostics, applied testing, and academic and pharmaceutical research.  The company has developed and markets more than 500 consumable products and automated solutions.  QIAGEN’s assay technologies include one of the broadest panels of molecular diagnostic tests available worldwide. This panel includes the digene HPV Test, which is regarded as a “gold standard” in testing for high-risk types of human papillomavirus (HPV), the primary cause of cervical cancer, as well as a broad suite of solutions for infectious disease testing and companion diagnostics.  QIAGEN employs more than 3,600 people in over 35 locations worldwide, and with over $US 3 billion in market cap and over $US 1 billion in 2010 revenues, is one of the pre-eminent players in this space.  For more information, http://www.qiagen.com.

Medicago Completes $25 Million Private Placement

Quebec City, September 27, 2011 – Medicago Inc. (“Medicago” or the “Corporation”) (TSX: MDG), a biotechnology company focused on developing highly effective and competitive vaccines based on proprietary manufacturing technologies and Virus-Like Particles (“VLPs”), announces that it has increased the size and closed its previously announced private placement offering of 38,462,600 common shares at a price of $0.65 for gross proceeds of $25 million (the “Offering”). The Offering was completed through a syndicate of agents co-led by Bloom Burton & Co. Inc., Desjardins Capital Markets and Paradigm Capital Inc. Roth Capital Partners acted as financial advisor to the Company for the transaction.

 

“Attracting a top 50 global pharmaceutical company as the lead investor of this offering is a validation of our effective plant-based VLP vaccines, our technology platform and our strategy,” said Andy Sheldon, President and CEO of Medicago. “This financing allows us to further advance our overall programs, enhancing our platform and provides us a strong cash position going forward.” “We are also very pleased to see the continued investment support and commitment from our healthcare-focused institutional investors, which include among others AgeChem Venture Fund L.P., CTI Life Sciences L.P., Fonds de solidarité FTQ, and Le Fonds d’investissement RÉA II Natcan Inc.,” said Pierre Labbe, Vice President and Chief Financial Officer of Medicago. “We appreciate their continued support of our growth strategy, especially in the face of turbulent global capital markets.”

 

Net proceeds from the Offering will be used for continued clinical development of the Corporation’s plant-based manufactured Influenza VLPs vaccines, to fund the development of additional potential product candidates and for other general corporate and working capital purposes. The Corporation has obtained an advance ruling from the Ministère du Revenu du Québec confirming that the Corporation is a qualified issuing corporation for the purposes of the Québec Stock Savings Plan II (“QSSP II”) and that the common shares to be issued as part of the Offering will be “qualified shares” for a QSSP II qualified mutual fund.

 

About Medicago

Medicago is committed to provide highly effective and competitive vaccines based on proprietary VLP and manufacturing technologies. Medicago is developing VLP vaccines to protect against pandemic and seasonal influenza, using a transient expression system which produces recombinant vaccine antigens in the cells of non-transgenic plants. This technology has potential to offer advantages of speed and cost over competitive technologies. It promises a vaccine for testing in about a month after the identification and reception of genetic sequences from a pandemic strain. This production time frame has the potential to allow vaccination of the population before the first wave of a pandemic strikes and to supply large volumes of vaccine antigens to the world market. Additional information about Medicago is available at www.medicago.com.

Enobia Pharma Raises US $40 million

Montreal, QC, August 9, 2011 – Enobia Pharma Inc., a clinical stage biotech company focused on developing novel therapeutics for serious bone disorders, today announced that it has raised US $40 million through the private placement of approximately 13,724,000 shares of its common stock to new pharmaceutical and financial investors.  The proceeds will be used to fund the ongoing development of ENB-0040, Enobia’s enzyme replacement therapy (ERT) for hypophosphatasia, a rare and potentially life threatening genetic bone disorder for which there is no currently approved therapy.  BofA Merrill Lynch acted as the exclusive placement agent to the company.

 

“We are pleased by the strong interest from both strategic and financial investors.  We look forward to building a first rate biopharmaceutical company focused on rare genetic bone diseases,” said Enobia Chairman and OrbiMed General Partner Jonathan Silverstein.

 

Enobia has completed two 6-month clinical studies in hypophosphatasia; a phase I/II study initiated in October 2008 in infants and young children with life threatening hypophosphatasia, and a phase II study in children aged 5-12.  These patients continue to receive therapy in ongoing extension studies.  Updates of infantile and juvenile data will be given at the upcoming SSIEM (September 2, 2011 Geneva Switzerland) and ASBMR (September 16, 2011 San Diego, CA) meetings.  Enobia is also enrolling additional infants and children with severe hypophosphatasia under the age of 5.

 

One year treatment results from a Phase II study in adolescents and adults with hypophosphatasia will be available in the first half of 2012.  ENB-0040 manufactured at commercial scale is now being used in clinical trials.

 

Enobia was also recently awarded a US $1.2 million FDA Orphan Grant for the long-term ENB-0040 treatment of infants and young children with life-threatening or severely debilitating hypophosphatasia.  Enobia will receive these funds over the next three years with the opportunity to apply for additional funding in subsequent years.

 

About ENB-0040

There are currently no therapies approved for hypophosphatasia (HPP), a rare inherited metabolic disease characterized primarily by defective bone mineralization with multi-systemic sequelae caused by a deficiency in the enzyme tissue non-specific alkaline phosphatase (TNSALP).  ENB-0040 (asfotase alfa) is an investigational subcutaneous enzyme replacement therapy for HPP.  ENB-0040 is designed to directly target TNSALP to the bone in order to correct the enzyme deficiency, which could lead to restoration of normal bone mineralization and function.  ENB-0040, awarded orphan designation in the U.S. and EU in 2008 and Fast Track status in 2009, is currently in Phase IIb clinical development.

 

About Enobia Pharma Inc.

Enobia Pharma Inc. is a private Montreal based company focused on the development of therapeutics to treat serious bone disorders for which there are no drug therapies currently approved.  ENB-0040, an investigational drug for the treatment of hypophosphatasia, is the Company’s lead program.  For more information, please visit www.enobia.com.

Medicago Announces Closing of C$17.4 Million Equity Offering

Quebec City, QC, April 5, 2011 – Medicago Inc. (“Medicago” or the “Company”) (TSX:MDG), is pleased to announce it has closed its previously announced offering of 34,117,600 units (each, a “Unit”) at a price of $0.51 per Unit, representing gross proceeds of $17,399,976 (the “Offering”). The Offering was effected, on an agency basis, in each of the provinces of British Columbia, Alberta, Ontario and Quebec by way of a prospectus supplement to Medicago’s base shelf prospectus dated July 7, 2010. The Offering was co-led by Desjardins Securities Inc. and Bloom Burton & Co. Inc. and the syndicate of agents was comprised by Paradigm Capital Inc., Roth Capital Partners, LLC, Laurentian Bank Securities Inc. and RBC Dominion Securities Inc. Philip Morris Investments B.V., an insider of the Company, participated in the Offering and acquired 17,058,800 Units.

 

Each Unit is comprised of one common share (a “Common Share”) and one quarter of one common share purchase warrant (each, a “Warrant”). Each full Warrant has an exercise price of $0.75, exercisable for a period of 24 months following the closing date of the Offering. The Warrants are subject to an accelerated expiry if, at any time, the published closing trade price of the Common Shares on the TSX is equal or superior to $1.00 for any 30 consecutive trading days, in which event the Company may give the holders a written notice that the Warrants will expire at 5:00 p.m. (Montreal time) on the 30th day from the receipt of such notice. Net proceeds from the Offering will be used for continued clinical development of the Company’s plant-based manufactured Influenza Virus Like Particles (“VLP”) vaccines, to fund the development of additional potential therapeutic candidates and for other general corporate and working capital purposes.

 

About Medicago

Medicago is committed to provide highly effective and affordable vaccines based on proprietary VLP and manufacturing technologies. Medicago is developing VLP vaccines to protect against H5N1 pandemic influenza, using a transient expression system which produces recombinant vaccine antigens in non-transgenic plants. This technology has potential to offer advantages of speed and cost over competitive technologies. It could deliver a vaccine for testing in about a month after the identification and reception of genetic sequences from a pandemic strain. This production time frame has the potential to allow vaccination of the population before the first wave of a pandemic strikes and to supply large volumes of vaccine antigens to the world market. Additional information about Medicago is available at www.medicago.com.

 

Zymeworks Closes C$3.2M Round of Financing

Vancouver, BC, June 29, 2010 – Zymeworks Inc., a privately held biotechnology company focused on the development of next generation antibody-based therapeutics, today announced the close of a financing totaling $3.2 million. The financing consists of a follow-on round of institutional investment by CTI Life Sciences Fund, L.P. (“CTI”) which led the Company’s previous financing in 2009. Further financial terms are not disclosed. Zymeworks will use the proceeds to advance its antibody-engineering platform and research programs focused on the development of Zymeworks’ best-in-class protein therapeutics pipeline. In conjunction with the financing, Dr. Donald Drakeman will be joining the Board of Directors as an independent board member.

 

Dr. Drakeman is a Venture Partner at Advent Venture Partners LLP, and holds a Ph.D. from Princeton University and a J.D. from Columbia University. Dr. Drakeman co-founded two international biotech companies focused on monoclonal antibody therapeutics; Medarex, Inc. and Genmab A/S. Under his leadership as CEO, Medarex raised over a billion dollars, formed alliances with multiple pharmaceutical companies, developed numerous therapeutic products, and spun-off Genmab, which completed Europe’s largest biotech IPO to date. In 2009, Medarex was subsequently acquired by Bristol-Myers Squibb for US$2.4 billion. During his 22 years in the biotechnology and pharmaceuticals industry, Dr. Drakeman has overseen the progress of over 30 innovative new medical products for cancer, infectious disease and inflammation from research concepts into clinical trials.

 

“We are delighted to receive CTI’s ongoing support as Zymeworks continues to build on its recent successes in antibody engineering and especially in the area of Fc receptor specificity. We’re also very excited by Don’s addition to the board and look forward to working closely with him and leveraging his experience in the field of biologics,” says Dr. Ali Tehrani, President and CEO of Zymeworks.

 

“We believe that in the year since our initial investment, Zymeworks has made significant advances in its protein engineering platform focused on the development of best-in-class protein therapeutics, including monoclonal antibodies which is a multi-billion dollar market opportunity. We remain enthusiastic about Zymeworks’ unique approach in advancing this field, and look forward to continue contributing our leadership and expertise in advancing the Company,” says Dr. Shermaine Tilley, Partner, CTI.

 

About Zymeworks Inc.

Zymeworks is a biotechnology company researching and developing next-generation protein therapeutics through its novel computational protein engineering platform. Zymeworks leverages proprietary insight into structure-function relationships generated by the ZymeCADTM platform to optimize the efficacy and potency of protein therapeutics. Zymeworks is focused on developing a biotherapeutics pipeline through strategic collaborations and internal research programs.

 

About CTI Life Sciences Fund, L.P.

CTI is a Montreal-based limited partnership making venture capital investments in high quality emerging life sciences companies at the start-up and clinical development stage in North America, primarily in Canada. CTI has a diverse team of professionals in science and finance with extensive experience in the biotechnology and the pharmaceutical industries. The Fund works closely with entrepreneurs and researchers to increase the value of young companies. More information on CTI can be found at http://www.ctisciences.com.