California Capital Equity ups stake in ProMetic Life Sciences
California Capital Equity (CCE), the investment vehicle of Dr. Patrick Soon-Shiong, has exercised all share purchase warrants held in ProMetic Life Sciences Inc (TSX: PLI), a Laval, Québec biopharmaceutical company. The result was an increase in CCE's equity stake and the generation of proceeds of more that $21 million. ProMetic, whose technologies are focused on drug purification, drug development, proteomics, and the elimination of pathogens, said the deal supports preparations for a debut commercial launch in 2017. Led by President and CEO Pierre Laurin, ProMetic has also raised funding from Thomvest Seed Capital.
6 February 2017•2 mins read
