NEW YORK, Dec. 19 - The Toronto Stock Exchange has resumed trading of the Health Care and Biotechnology Venture Fund at 1:15 p.m. EST, the organization said on Wednesday afternoon.
Trading in the well-known fund, which invests heavily in the genomics sector, were suspended at 11:48 a.m. EST and investors and reporters were told to await a press release. None was issued and it remains unclear what triggered the suspension.
Representatives of MDS Capital did not return telephone calls seeking comment.
The Health Care and Biotechnology Venture Fund is a closed-end investment trust founded in 1992 to invest in the health care and biotechnology sectors with "high growth potential," according the its website. It has invested close to $4 million in a wide range of firms in the genomics sector, including DoubleTwist, MDS Proteomics, and Ciphergen Biosystems.
The fund boasts a total investment portfolio valued at $30 million. It comprises seven privately held firms and 13 publicly traded companies in sectors spanning pharmaceuticals, biotechnology, medical equipment and devices, and health-care delivery. Nine of these companies are located in the US and 11 are based in Canada.
MDS Capital Corp. holds an 11.7 percent stake in the fund.