ProMetic closes Telesta acquisition, private placement deal
ProMetic Life Sciences Inc (TSX: PLI) has closed its previously announced acquisition of Telesta Therapeutics Inc (TSX: TST), a venture-backed biopharmaceutical company based in Montréal. ProMetic, which is focused on plasma-derived therapeutics, said the deal provides strategic benefits, as well as about $34 million that will be invested in drug development and clinical programs. The Laval, Québec-based company also announced the close of a private placement deal with Structured Alpha LP, an investment vehicle of Peter Thomson. The proceeds were used to reduce debt.
31 October 2016•5 mins read
