Vancouver-based pharmaceutical company ESSA Pharma Inc (Nasdaq: EPIX; TSX-V: EPI) has agreed to acquire Realm Therapeutics Plc (Nasdaq: RLM), a Malvern, Pennsylvania-based maker of therapies for treating immune-mediated diseases. The all-stock deal values Realm's issued and outstanding shares at about US$21.5 million. It is expected to close by mid-year. The acquisition is supported by ESSA investor Clarus Ventures, a U.S. life sciences venture capital firm acquired by Blackstone Group last year. ESSA is also backed by Omega Funds. Founded in 2009, ESSA is focused on developing therapies for treating prostate and other cancers. It said the acquisition is intended to be supplemented by a financing involving insiders and other investors.
7 min read · 16 May 2019
Vancouver-based pharmaceutical company ESSA Pharma Inc (Nasdaq: EPIX; TSX-V: EPI) has agreed to acquire Realm Therapeutics Plc (Nasdaq: RLM), a Malvern, Pennsylvania-based maker of therapies for treating immune-mediated diseases. The all-stock deal values Realm's issued and outstanding shares at about US$21.5 million. It is expected to close by mid-year. The acquisition is supported by ESSA investor Clarus Ventures, a U.S. life sciences venture capital firm acquired by Blackstone Group last year. ESSA is also backed by Omega Funds. Founded in 2009, ESSA is focused on developing therapies for treating prostate and other cancers. It said the acquisition is intended to be supplemented by a financing involving insiders and other investors.
7 min read · 16 May 2019
BDC Capital recently provided undisclosed quasi-equity financing to Fiasco Gelato Cafés Ltd, a Calgary-based artisan gelato and sorbetto maker and wholesaler. BDC, which invested through its Growth & Transition Capital group, said the financing is part of a broader deal that includes equity investors and government grants. No details were released. Founded in 2003 and led by Chief Idea Officer and CEO James Boettcher, Fiasco sells its products through more than 2,800 retailers across Canada. It will use the funds raised to expand distribution in Ontario, Québec and Atlantic Canada as well as develop and market new flavours.
3 min read · 16 May 2019
Fonds de solidarité FTQ invested $8.8 million in the initial public offering (IPO) of Milestone Pharmaceuticals Inc, a Montréal-based developer of therapies for treating episodic cardiovascular conditions. Milestone completed its IPO on the Nasdaq Stock Market this month, raising about $111 million (US$82.5 million). Fonds de solidarité FTQ, a Canadian provider of development capital, has backed Milestone, directly and as a fund investor, since the company's founding in 2005 by CSO Philippe Douville. Its total investment prior to the IPO was $17.3 million.
3 min read · 15 May 2019
Canopy Rivers has invested US$1.5 million in BioLumic Ltd, a Palmerston North, New Zealand-based maker of a sustainable ultraviolet (UV) crop yield enhancement system. The investment is part of the company's US$6.7 million Series A financing, led by Finistere Ventures, a U.S. food and agriculture venture capital firm. BioLumic will use the funds raised to accelerate and expand its UV light treatment initiatives, including for medical cannabis applications. Canopy, the venture capital arm of Canadian cannabis producer Canopy Growth Corp, said BioLumic marks its first deal in the agricultural technology sector.
5 min read · 15 May 2019
Ontario Teachers' Pension Plan has agreed to sell BluEarth Renewables LP, a Calgary-based builder, owner and operator of wind, hydro and solar facilities, to DIF, a Dutch infrastructure investment firm. No financial terms were released for the deal, which is expected to close later this year. Following the close, DIF will own 100 percent of BluEarth, the company said. Ontario Teachers' invested in BluEarth alongside Canadian energy private equity firm ARC Financial Corp when the business was established in 2010. Ontario Teachers' acquired ARC's interest in 2015. The year before, BluEarth said it had raised more than $250 million in equity from its investor base. BluEarth is led by President and CEO Grant Arnold.
2 min read · 15 May 2019
Fengate Asset Management has raised $1.1 billion in committed capital in the final close of its third core infrastructure fund. Fengate Core Infrastructure Fund III exceeded both its C$750 million target and initial C$1 billion hard cap. It was backed by new and existing limited partners, including public and corporate pension plans, insurance companies and funds of funds, based in North America, Europe and Japan. Threadmark Partners was the placement agent. Fund III, already about 50 percent deployed or committed to seven North American assets, will maintain Fengate’s strategy of investing in mid-sized infrastructure assets emphasizing greenfield projects. Based in Toronto, Fengate invests in infrastructure, private equity and real estate.
2 min read · 15 May 2019
Northleaf Capital Partners has hired Sophia Damianou as managing director, business development, Europe, the Middle East and Africa. Operating from Northleaf’s London office, Damianou will lead initiatives to develop relationships with institutional investors, consultants and advisors across the EMEA region. Damianou was previously director of marketing and investor relations at CapeView Capital, a U.K. hedge fund manager. Before then, she managed EMEA business development for Mesirow Financial. Toronto-based Northleaf, a global private equity, private credit and infrastructure manager, oversees more than $12 billion in capital commitments.
3 min read · 15 May 2019
Fengate Asset Management has raised $1.1 billion in committed capital in the final close of its third core infrastructure fund. Fengate Core Infrastructure Fund III exceeded both its $750 million target and initial $1 billion hard cap. It was backed by new and existing limited partners, including public and corporate pension plans, insurance companies and funds of funds, based in North America, Europe and Japan. Fund III, already about 50 percent deployed or committed to seven North American assets, will maintain Fengate's strategy of investing in mid-sized infrastructure assets emphasizing greenfield projects. Based in Toronto, Fengate invests in infrastructure, private equity and real estate.
3 min read · 15 May 2019
Caisse de dépôt et placement du Québec (CDPQ) has acquired a 45 percent stake in DP World Chile, which operates terminals in Puerto Central and Puerto Lirquen, serving Chilean consumption and industrial centres. CDPQ invested through its $5 billion investment platform with Dubai port operator DP World, established in 2016. CDPQ said its acquisition will be executed at the same price as DP World’s April purchase of Puertos y Logística SA (now DP World Chile) for US$502 million. Earlier this month, the CDPQ-DP World platform agreed to acquire Vancouver-based marine terminal Fraser Surrey Docks from Macquarie Group.
3 min read · 15 May 2019
