Thomvest Seed Capital lends further $20 mln to ProMetic Life Sciences
ProMetic Life Sciences Inc (TSX: PLI) has secured a $20 million follow-on loan from existing investor Thomvest Seed Capital. As partial consideration for the loan, the Laval, Québec-based biopharmaceutical company has granted Thomvest 16.7 million warrants with an exercise price of $1.87 per common share. ProMetic said it will use the funds for the development and manufacture of plasma-derived orphan drugs, the advancement of its ongoing PBI-4050 clinical program, and repayment of debt. Toronto's Thomvest Seed Capital is an affiliate of Thomvest Ventures, the US$250 million venture capital firm of Canadian businessman Peter Thomson.
1 August 2014•5 mins read
