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Life Sciences News Brief
Vol. 5 no. 2 –February 23, 2005
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Pharmaceuticals Update |
Affinium Launches the Development of a New Class of Antibiotics
Affinium Pharmaceuticals (Toronto) announced that it has selected a
drug candidate for development of a novel MRSA antibiotic to be used
in hospital and community settings. The candidate is one of multiple
compounds from Affinium's Galapagos program."It is important that
our development candidate operates via a novel mechanism of action
with very novel chemistry, and distinct from any other antibiotic on
the market. Our drug candidates selectively inhibit a bacterial
pathway to kill bacteria without any detectable side effects to the
analogous human pathway. Because of their unique way of working, we
believe resistance will be slow to develop." said Judd Berman,
Ph.D., Senior Vice President of Chemistry. "Our team selected
Affinium's first development candidate after evaluating animal data
from over 150 front runner compounds with potent MRSA activity from
this new antibiotic class. We selected the first compound for its
potential as an IV and oral antibiotic for hospital and community
MRSA."
Antalium Inc and Neuroceptor Inc. Merge
PainCeptor Pharma Corporation (Montreal), a new leading-edge
biopharmaceutical company, emerged as the result of a merger of
Antalium Inc. and Neuroceptor Inc., two spin-off companies of McGill
and Queen's Universities, respectively. The new Company is focused
on the development of novel and effective therapeutic drugs for the
treatment of acute and chronic pain. The merger was led by Louis R.
Lamontagne, Ph.D., the new CEO of PainCeptor and former CEO of
Neurochem Inc. Dr. Lamontagne has successfully completed an initial
private placement of CAN$23 million to finance the Company.
PainCeptor Pharma will operate from facilities in Montreal, Quebec
and Kingston, Ontario. PainCeptor is financed with investment
funding of $23 million, which will be used to advance its current
initial potential drug candidates through the company's
comprehensive lead-optimization strategy and program, as well as
through the subsequent pre-clinical development phase expected to
begin in 2005. The current financing is led by CDP Capital -
Technology Ventures, with investment from the Business Development
Bank of Canada, Desjardins Venture Capital, Canadian Medical
Discoveries Fund Inc. (CMDF), T2C2/BIO 2000, MDS Capital Corporation
and Innovatech du Grand Montrial.
AlphaRx Inc. To Begin Phase 1 Clinical Trial With Lead
Pharmaceutical
AlphaRx Inc. (Markham), an emerging biopharmaceutical company
utilizing proprietary drug delivery technology to develop novel
formulations of drugs, is pleased to announce that AlphaRx has
received approval from the appropriate authorities to begin Phase 1
human trial for its lead pharmaceutical product Indaflex(TM). The
primary objective of this study is to evaluate the safety and
tolerability of single- and multiple-dose applications of
Indaflex(TM), a novel formulation of indomethacin cream. The
secondary objective of this study is to evaluate the bioavailability
of Indaflex(TM) relative to Indomethacin 50 mg capsule, after a
single-dose in healthy subjects. |
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Diagnostics and Therapeutics Update |
Chromos and AppTec announce strategic alliance
Chromos Molecular Systems Inc. (Burnaby) and AppTec Laboratory
Services, Inc. (St. Paul) announced a strategic alliance for
providing the biopharmaceutical industry with a broad range of cell
line engineering and contract manufacturing services. "This
relationship will continue to increase the number of ACE
System-based licenses, generating a growing revenue stream with the
upside potential of royalty payments for products that reach the
market," said Alistair Duncan, President and CEO of Chromos. "We
believe AppTec's international marketing presence and capability
will broaden our customer base. In addition, AppTec's expertise in
scale-up, manufacturing and testing of biopharmaceuticals
complements Chromos' strength in engineering high quality cell lines
using the ACE System. Biopharmaceutical companies want higher cell
line expression levels and faster timelines as they move their
product candidates through the various phases of development.
Building on the strengths of both companies – the Chromos ACE System
and AppTec's Total Service Package - we offer customers a
high-yield, fast-track solution," said Bonnie Baskin, President and
CEO of AppTec.
Protana and Insception Biosciences announce stem cell based Biomarker
Insception Biosciences Inc. (Toronto), operator of Canada's largest
private umbilical cord blood storage bank and a leading stem cell
research company and Protana Inc. announced that they have entered
into an agreement to collaborate on a project related to biomarker
identification in stem cells isolated from umbilical cord blood. Dr.
Laura Grey, VP Business Development and Research Strategy of
Insception Biosciences said "We are pleased to collaborate with
Protana. Their depth and breadth of mass spectrometry
instrumentation and expertise in applying these technologies to
protein analysis is unparalleled. This relationship complements our
stem cell technologies under development. Combining our technologies
represents a unique and promising approach toward identifying novel
biomarkers responsible for influencing stem cell fates."
Commercial availability of QLT's Eligard(R) 6-month formulation
QLT Inc. (Vancouver) announced the commercial availability in the
United States of its product Eligard(R) 45mg (leuprolide acetate for
injectable suspension) six-month formulation, a palliative treatment
of advanced prostate cancer. The six-month Eligard product is the
first of its kind to be approved for prostate cancer by the U.S.
Food and Drug Administration. Eligard is already approved for
one-month (7.5mg), three-month (22.5mg) and four-month (30mg)
formulations. Eligard is a member of a class of drugs known as
luteinizing hormone-releasing hormone agonists, also called LHRH
agonists. Eligard competes in the LHRH market for the treatment of
prostate cancer, which represents a market of approximately $680
million in the U.S. Eligard is marketed in the U.S. by
sanofi-aventis. Sales of Eligard in 2004 were approximately $84
million worldwide. |
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Medical Devices |
Cedara Software Corp. Introduces Time-Saving ImageSnap
Cedara Software Corp. (Toronto) announced the introduction of
ImageSnap Technology(TM) to its line of digital orthopaedic software
solutions, Cedara OrthoWorks(TM) Simply stated, ImageSnap Technology
introduces cutting-edge image processing techniques to streamline
orthopaedic planning through automatic detection and measurement of
anatomical structures. This reduces many of the mundane activities
performed by medical specialists during image review and surgical
planning. In Cedara OrthoWorks, ImageSnap Technology has been used
to implement a variety of time saving features including Automatic
Templating and Spine Analysis. The first offering of its kind,
Automatic Templating automatically selects and positions digital
orthopaedic implant overlays from a specified manufacturer. In
traditional orthopaedic implant selection, surgeons use acetate
templates, overlaid on x-rays, to determine sizing and positioning
for prosthetics. Most digital orthopaedic solutions on the market
similarly attempt to duplicate this work process through electronic
means. Both of these approaches can be quite time-consuming. With
ImageSnap Technology, laborious tasks such as measurements, implant
size selection and placement are automatically performed by the
application, allowing surgeons to accept, refine or change the
suggestions. In Cedara's OrthoWorks Spine Analyzer(TM), ImageSnap
Technology has also been implemented to automatically detect the
bone contours of spinal vertebrae in the space of several mouse
clicks. This replaces the onerous task of manual vertebral tracing
and measurements with rulers and protractors on film. Specific
modules exist for cervical, lumbar, postural and frontal analysis.
Clemex Releases PS3, Automated Particle Size and Shape Analyzer
Clemex Technologies Inc. (Montreal) announced the upcoming release
and product launch of Clemex PS3, to take place at the Pittsburgh
Analytical Conference (Pittcon) on February 28, 2005, in Orlando.
Clemex PS3 is an integrated fully automatic particle
characterization workstation. By combining the accuracy of optical
microscopy with the advances in image analysis technology, Clemex
has created a versatile particle size and shape analysis system,
which can be used in various industries. Having already sold several
image analysis systems, specifically for the application of particle
size and shape in pharmaceutical powders, Clemex designed the PS3 to
capitalize on the growth in the particle size analysis industry.
FDA provides LMS clearance for new core product
LMS Medical Systems (Montreal), a healthcare technology company and
developer of the CALM(TM) system (Computer Assisted Labor
Management) announced that it has received clearance from the United
States Food & Drug Administration to market Patterns(TM), a new and
innovative decision support software tool specifically directed at
the health of the fetus. Fetal distress during labor is recognized
as one of the greatest complexities of childbirth and therefore a
significant issue in so far as risk management is concerned. During
labor and delivery, abnormal patterns in the fetal heart rate
tracing can indicate fetal distress and thereby lead to
interventions such as more diagnostic tests or delivery by cesarean
section. Patterns(TM) uses the power of computers to provide
objective, real-time detection, classification and labeling of fetal
heart rate patterns. Better assessment of fetal distress may reduce
the incidence and severity of birth related brain damage. |
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Genomic Update |
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Industry Briefs |
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Paladin Labs Inc.
(Montreal), a leading Canadian specialty pharmaceutical company,
announced that it has received regulatory approval from the
Toronto Stock Exchange to carry out a normal course issuer bid
effective February 22, 2005. Paladin has been authorized to
purchase up to 630,000 of its common shares, or approximately
10% of its public float of 6,300,990 common shares, in the
twelve-month period following the bid's effective date. As at
February 17, 2005, Paladin has 14,858,469 common shares issued
and outstanding……
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BioMS Medical Corp
(Edmonton), a leading developer in the treatment
of multiple sclerosis (MS), announced it has reached agreement
with Fraser Mackenzie Limited under which Fraser Mackenzie will
lead a banking syndicate for a short-form prospectus offering,
on a best efforts basis, of 10,000,000 units of the Company at a
planned price of $3.60 per unit, which is an average closing
price of the last 5 trading days at a 10% discount. An over
allotment option of 15% or 1,500,000 units at the issue price
will also be granted to accommodate any over-subscriptions above
the $36 million offering……
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Stem Cell Therapeutics
Corp. (Calgary) announced that Alan F. Moore,
Ph.D., has joined the company as Chief Clinical and Regulatory
Officer. Dr. Moore will be responsible for overseeing and
implementing Stem Cell Therapeutics Corp.'s clinical programs
focused on the development of stem cell therapies for major
unmet medical needs…….
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ConjuChem Inc.
(Montreal), announced it has closed the bought deal of
$21.7 million that was announced on January 28th 2005. The
financing was underwritten and co-led by a syndicate consisting
of Orion Securities Inc. and GMP Securities Ltd. and included
among others Leerink Swann & Company as initial purchaser. Under
the agreement, ConjuChem issued 4,625,000 common shares ("Common
Shares") at a price of $4.70 per Common Share, resulting in
gross proceeds of $21,737,500. In addition, the underwriters
have the option, exercisable for a period of 30 days after the
closing date, to acquire up to an aggregate of 694,000
additional Common Shares ($3,261,800) at the offering price to
cover over-allotments, if any, and for market stabilization
purposes. If exercised, total gross proceeds would increase to
$24,999,300……
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TSO3 Inc.
(Quebec City) conducted a second factory training class
for the SKYTRON field service organization January 24-30, 2005.
Technicians from across North America travelled to Quebec City
to participate in an intensive one-week training session that
included technical classroom instruction, hands-on repair and
service instruction. Trained SKYTRON service personnel are now
in place to service all installed units…….
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AEterna Zentaris Inc.
(Quebec City) announced that its 61.1%-owned subsidiary Atrium
Biotechnologies Inc. has filed a preliminary prospectus with the
securities regulatory authorities in each of the provinces of
Canada in connection with an initial public offering of
subordinate voting shares. The offering consists of a treasury
issue by Atrium and a secondary offering by SGF Soquia Inc., a
subsidiary of Société générale de financement du Québec……
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TOPIGEN Pharmaceuticals,
Inc., (Montreal) a developer of
anti-inflammatory respiratory products, announced that it has
commenced dosing in its first human safety study for its inhaled
asthma product, ASM8…….
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MedMira Inc.,
(Halifax) the global market leader in rapid
flow-through diagnostic technology, announced that it has
completed a second shipment of its Over-The-Counter (OTC)
MiraCare(TM) Rapid HIV Test (MiraCare(TM)) against a standing
order. Since MiraCare's(TM) introduction, the number of retail
pharmacies selling the test has increased from 50 to over 300.
This second shipment comes just three weeks following the launch
of this product into Hong Kong and Macao, China announced on
January 24, 2005.
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(Life Sciences News Briefs © 2004 is prepared by Armar International for
the Life Sciences Branch of Industry Canada (contact: Sandy Vien; Tel:
613-941-6479; E-mail: vien.sandy@ic.gc.ca).
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