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BC Life Sciences Company Aequus Pharmaceuticals Set to Go Public on TSX Venture Exchange
Thursday, January 8, 2015Company Profile | Follow Company
Vancouver, BC, January 8, 2015--(T-Net)--BC life sciences company Aequus Pharmaceuticals Inc. has filed a preliminary long form prospectus for the qualification of the distribution of 7,618,780 units issuable at a price of $0.55 per special warrant.
Aequus intends to apply to list the common shares and the underlying warrants on the TSX Venture Exchange, to raise net proceeds of $3.8 million.
Aequus Pharmaceuticals was founded in 2013 and recently closed a $4.2 Million private placement financing in November 2014, as reported earlier on T-Net, as well as an earlier $1.2 million equity financing in September 2013.
Aequus Pharmaceuticals Inc is a Vancouver-based life sciences company, focused on enhancing delivery methods for approved drugs and select consumer products that are limited by non-compliance, high frequency dosing, first-pass metabolism side effects, painful injections, or where the commercial presentation can be improved by making a long acting alternative available.
The Chairman and CEO of Aequus Pharmaceuticals, Doug Janzen, was previously President and CEO of Cardiome Pharma, a NASDAQ listed drug development company that completed an $800M licensing deal with Merck. He currently is also the Co-Founder and Managing Director of Northview Ventures, an entity which invests in and provides strategic advisory services to a number of life sciences companies.
Aequus Pharmaceutical's pipeline is strategically focused on reformulated products which leverage their internal and partner expertise in transdermal delivery. Their lead programs are being developed for the potential treatment of multiple CNS disorders.
The Company has used, or intends to use, the net proceeds of the Offering of $3,792,059.17, plus the net proceeds of the December 2014 Financing (as defined below) of $332,750, minus its estimated current working capital deficiency (excluding the net proceeds of the Offering) as of November 30,2014 of $533,750, as follows:
Estimated net proceeds of the Offering $3,792,059.17
Estimated net proceeds of the December 2014 Financing $332,750
Estimated current working capital (1) $(553,750)
Estimated total working capital $3,591,059
Aequus expects to commercialize AQS-1301 if approved by the FDA and other relative regulatory bodies for comercial sales, via a third party commercial partner or partners.
The Chairman and CEO of Aequus Pharmaceuticals, Doug Janzen, was previously President and CEO of Cardiome Pharma, a NASDAQ listed drug development company that completed an $800M licensing deal with Merck. He currently is also the Co-Founder and Managing Director of Northview Ventures, an entity which invests in and provides strategic advisory services to a number of life sciences companies.
About Aequus Pharmaceuticals
Aequus Pharmaceuticals Inc is a Vancouver-based company, focused on enhancing delivery methods for approved drugs and select consumer products that are limited by non-compliance, high frequency dosing, first-pass metabolism side effects, painful injections, or where the commercial presentation can be improved by making a long acting alternative available.
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