LSBC Takes in $8.2M in Private Placement
Large Scale Biology announced the completion this week of an $8.2 million private placement. The company sold 5.2 million new shares of common stock, and issued warrants with a 5-year-term to purchase an additional 1.3 million shares.
Proceeds from the private placement will be used to fund product development; meet expected strategic partnership commitments; and facilitate short-term revenue streams, the company said.
Sciex Signs M&D Deal with Pa. Firm
MDS Sciex and West Chester, Pa.-based VWR International this week announced that they have signed a distribution agreement for Sciex’s ProteoSpin and ProteoLadder products. ProteoSpin is a protein purification product released this week (see p. 2). Under the terms of the agreement, VWR will sell, market, and support the products in North America, the companies said.
Financial terms of the deal were not disclosed.
ProMetic, Serono To do Protein Purification
Montreal-based ProMetic Life Sciences announced this week a development deal with Serono for the use of ProMetic’s Intelligent Combinatorial Libraries and Serono’s protein purification technology to purify recombinant proteins. Serono will select a Mimetic Ligand from ProMetic’s libraries and will combine it with its own procedures to develop a new affinity adsorbent.
Financial terms of the agreement were not disclosed.
“We are thrilled that Serono, a world leader in recombinant products, has chosen ProMetic’s technology to further enhance its manufacturing and purification processes,” Pierre Laurin, ProMetic CEO, stated.
Hong Kong Genomic/Proteomic Skeletal Program Gets $6.4M in Funds
A group of 18 scientists from Hong Kong University, the Hong Kong University of Science and Technology, and The Hong Kong Polytechnic University have received HK$50 million ($6.4 million) from the island’s University Grants Committee to use genomic and proteomic techniques to study degenerative skeletal disorders, according to the Chinese news agency Xinhua.
The program, entitled “Developmental Genomics and Skeletal Research,” will seek to understand normal growth of the skeleton as well as genetic factors that may lead to disorders, Xinhua reported.