Resverlogix to raise $87 mln from China's Shenzhen Hepalink
Calgary biotechnology company Resverlogix Corp (TSX: RVX) has entered into a private placement deal with China's Shenzhen Hepalink Pharmaceutical Co Ltd, an existing investor. The deal, which is expected to generate gross proceeds of $87 million, will result in Hepalink holding as much as 45.16 of the company's outstanding shares. Eastern Capital, an existing investor that is not joining the private placement, will see its interest reduced. Founded in 2001, Resverlogix develops treatments for cardiovascular disease and other conditions. It said the funds raised will be used to repay a $68.8 million secured loan, fund R&D, and support other priorities.
16 October 2017•6 mins read
