Prometic closes recap deals, taps Kenneth Galbraith as CEO
Laval, Québec-based biopharmaceutical company Prometic Life Sciences Inc (TSX: PLI) has completed its refinancing transactions, including a $75 million offering led by Consonance Capital Management and Thomvest Asset Management. The deals also included the conversion into equity of most of the debt held by an affiliate of Thomvest, an investment arm of Canadian billionaire Peter Thomson. Prometic previously said the conversion would grow Thomvest's stake to about 81 percent. Stefan Clulow, Thomvest's managing director and CIO, was appointed chair. Additionally, Kenneth Galbraith, a longtime Canadian venture capital professional, was appointed CEO.
23 April 2019•5 mins read
