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December 21, 2016 – HALIFAX, Nova Scotia –– Appili Therapeutics Inc. (“Appili”), an anti-infective drug development company, announced today it raised $2,151,000 in its over-subscribed private placement financing. Participants in this capital raise included current Appili investors such as Innovacorp, as well as new individual and institutional investors. Proceeds from the financing will be used to advance its lead product candidate, a taste-masked antibiotic designed to treat anaerobic infections like Clostridium difficile, into clinical trials. In addition, the Company will advance the development of a novel class of antibiotics targeting drug-resistant Gram-negative bacteria and evaluate opportunities to add high potential anti-infective programs to its pipeline.
“We appreciate the support and confidence our investors have in our strategy to build a pipeline of products that fit with our balanced-risk portfolio approach,” said Kevin Sullivan, CEO of Appili Therapeutics. “We continue to seek new programs that complement this balanced-risk approach with a mix of near-term revenue programs along with early stage programs that have the potential to fundamentally change how we treat infectious disease.”
“In a very short period of time, Appili has made significant progress with their strategy to identify and develop improved anti-infective therapies, and we look forward to supporting their upcoming clinical trial,” said Dr. Lidija Marušić, life sciences investment manager at Innovacorp, Nova Scotia’s early stage venture capital organization, and member of Appili’s Board of Directors.
“We are thrilled by the strong investor interest in this financing, which validates Appili’s strategy, science and development programs,” said Brian Bloom, president of Bloom Burton & Co., a healthcare-specialized investment bank, and chair of Appili’s Board of Directors.
About Appili Therapeutics
Appili is dedicated to identifying, acquiring and advancing novel therapeutics for infectious disease. The Company has two anti-infective programs, ATI-1501 and ATI-1503, in its pipeline. ATI-1501, a taste-masked treatment for anaerobic infections, has been granted orphan drug status by the FDA. Appili plans to take ATI-1501 into clinical trials in 2017. Appili’s second product, ATI-1503, is a novel antibiotic with broad potential to treat deadly Gram-negative infections such as Klebsiella pneumoniae. These drug-resistant infections have been identified by the U.S. Center for Disease Control (CDC) as posing the highest threat to human health. For more information visit www.AppiliTherapeutics.com.
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TruLeaf Closes $8.5-million Round of Financing
Former executive of Scotiabank joins TruLeaf board of directors
TORONTO, ON/BIBLE HILL, NS, December 7, 2016 – TruLeaf Sustainable Agriculture Ltd. (TruLeaf), the indoor, multi-level farming company from Bible Hill, Nova Scotia has closed an $8.5-million equity-finance round. This funding will enable the company to continue its mission of becoming a global leader in vertical farming technology. TruLeaf develops sustainable farming systems that can be built anywhere that enable fresh, nutrient-dense, pesticide-free produce to be grown locally all year round.
Mike Durland, Former CEO and Group Head of Scotiabank’s Global Banking and Markets division led this funding round along with a small group of strategic investors from Toronto. In addition, Mr. Durland and Neil Murdoch, Former CEO Connor, Clark & Lunn Capital Markets, will become members of TruLeaf’s Board of Directors.
“This new round of financing and the additions to our board will help us to expand the breadth of our product offerings and increase the number of markets that we serve,” said Gregg Curwin, President & CEO, TruLeaf. “Mike and Neil bring a high level of business acumen and strategic expertise that will help us scale our business.”
TruLeaf is positioned to meet the growing appetite for local food in Canada that has arisen in the last 10 years, by scaling its GoodLeaf Farms consumer brand. A 2013 BMO Food Survey found that Canadians buy locally grown vegetables above all other products. Ninety-seven per cent of those surveyed said they bought local because the food is fresh and tastes better.
TruLeaf is seeking to become a leader in sustainable agriculture through the use of vertical farming. Vertical farming combines proven hydroponic technology with advancements in LED lighting and environmental control to allow year-round propagation and production of plants indoors, inside stackable levels. Vertical farming is nearly ten times more efficient than traditional agriculture and is more productive, takes up less land and uses dramatically less water.
“There are a number of important macro forces which position TruLeaf for success in the coming years,” said Mr. Durland. “Food scarcity, water challenges, the increasing demand for pesticide-free foods, and the environmental impact of large-scale farming, all mean that new ways of growing and distributing foods will be key for feeding the world. We want TruLeaf to be a company that achieves a triple-bottom line by creating sustainable – and ultimately carbon neutral – food production, delivering nutrient-rich plants to communities that may not otherwise have access to them, and achieving a strong return for investors and stakeholders. We want to grow the best products for
consumers in Canada.”
A native Nova Scotian and Saint Mary’s University graduate, Mr. Durland recently retired from his executive post at Scotiabank to focus his efforts on fostering growth and investment in innovative companies across the country. Recently, he provided important funding for Saint Mary’s University’s Masters of Technology, Entrepreneurship & Innovation program, which supports an innovation competition held in Halifax each year. Mr. Durland’s interest and passion for TruLeaf was spawned out of his desire to invest in the local Nova Scotia economy.
Founded in 2011, and located in Bible Hill, Nova Scotia, TruLeaf has developed an indoor farming system that grows fresh plants for food and medicines anywhere in the world, regardless of environment, 365 days a year. The system integrates growing technologies in a controlled environment to grow high quality, predictable yield, and clean plants with innovative and efficient technologies.
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For Immediate Release
Halifax, NS -Windsor based, BioMedica Diagnostics (BMD) made the announcement today that it has purchases the specialty coagulation business and product line from Sekisui Diagnostics (SDG).
The agreement includes all aspects of the business worldwide, with the exception of Europe, Middle East, and Africa, where SDGmbH, a Sekisui Diagnostics subsidiary, will continue to distribute and support the products in partnership with BMD. In conjunction with this agreement, BMD will also acquire the American Diagnostica trademark.
“This is great news, not only for BioMedica Diagnostics but for the entire life sciences sector,” Said Scott Moffitt, Managing Director at BioNova – the association leading the development of the life sciences sector in Nova Scotia. ” This acquisition is proof of our global competitiveness and our capabilities to build high growth life sciences companies right here in Nova Scotia.”
The agreement closed as of December 1st, 2016 and from this time forward BMD will be responsible for the operation of the business.
About BioMedica Diagnostics
Established in 1999, we are a diagnostics company with a focus on providing customized diagnostic solutions in human and animal health. The acquisition of these assets is a natural fit to further solidify our foundation in thrombosis and haemostasis and expand our reach in specialty coagulation.
Jessica Gillis, Communications Officer
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Ottawa, December 1, 2016 – Innovative Medicines Canada is pleased to announce the appointment of Pamela Fralick as its new President, effective immediately.
Ms. Fralick comes to Innovative Medicines Canada as a proven healthcare leader, with a wealth of experience advancing critical healthcare initiatives and a deep understanding of public policy and organizational management.
“We are extremely pleased to have Ms. Fralick lead our association at such an important time both for the country’s innovative pharmaceutical industry and in the evolution of the Canadian healthcare system,” said Michael Tremblay, Chair of the Board of Directors, Innovative Medicines Canada and President of Astellas Pharma Canada, Inc. “Ms. Fralick has had a unique opportunity to participate in many aspects of Canada’s healthcare system, and throughout her career has demonstrated a commitment to improving the lives and health outcomes of Canadians. We believe she is the right person to lead Innovative Medicines Canada as we work with our partners to build a more healthcare sustainable system.”
As the former President and CEO of the Canadian Cancer Society, Ms. Fralick led a three-year process of intense transformation, resulting in significant improvements to the operational and governance structures of the organization. Prior to this, she spent five years as president and CEO of the Canadian Healthcare Association, a federation of provincial and territorial hospital and health organizations, as well as six years as CEO of the Canadian Physiotherapy Association. She was chair of the Health Action Lobby (HEAL) and co-chair of the Canadian Coalition for Public Health in the 21st Century (CCPH21). She has also held senior positions with the Canadian Centre on Substance Abuse and Health Canada’s Alcohol and Other Drugs Unit.
“As a healthcare professional dedicated to helping Canadians live longer and healthier lives, I am honoured to represent a national association whose members are responsible for developing innovative medicines and vaccines that materially improve the quality of life for so many Canadians,” said Pamela Fralick, President, Innovative Medicines Canada. “I look forward to collaborating with all of our partners across the country to improve access to these lifesaving medicines.”
Ms. Fralick has also been a senior volunteer with the Centre for Addiction and Mental Health, the University of Ottawa Institute of Mental Health Research, Triathlon Canada and the International Triathlon Union. She is currently on the boards of Outward Bound Canada (Chair) and the Canada Dance Festival (Past Chair).
Ms. Fralick takes over from Elaine Campbell, who has been Interim President of Innovative Medicines Canada since June.
For further information:
About Innovative Medicines Canada
Innovative Medicines Canada is the national voice of Canada’s innovative pharmaceutical industry. We advocate for policies that enable the discovery, development and commercialization of innovative medicines and vaccines that improve the lives of all Canadians. We support our members’ commitment to being valued partners in the Canadian healthcare system.
For Immediate Release
HALIFAX, Dec 1, 2016 – Tom Lynch, Chair of Precision BioLogic’s Board of Directors, is pleased to announce the appointment of Paul Empey as President and CEO of the company.
Most recently Precision BioLogic’s Executive Vice President, Empey joined the organization in 2015, bringing with him more than 30 years of experience in senior and executive positions at several successful organizations including Ocean Nutrition Canada, which is now part of Royal DSM.
Hailing originally from Boston, Empey has been helping Canadian organizations reach their potential for more than two decades. As President and CEO, he will play an active role in Precision BioLogic’s strategic direction, working closely with the board and senior management team.
Empey is pleased to have the opportunity to further develop Precision BioLogic.
“2016 saw a lot of exciting activity, including our humanitarian aid donation to the University Teaching Hospital in Yaoundé, Cameroon. Our donation made Precision BioLogic the first diagnostics company to support the World Federation of Hemophilia’s efforts to close the gap in care between those with bleeding disorders who receive proper diagnosis and treatment and those who do not,” he explains. “2017 promises to be equally exciting as we celebrate the 25th anniversary of cryocheck™, our line of frozen diagnostic products for coagulation testing,” he adds.
About Precision BioLogic
Precision BioLogic is a privately-held company that develops, manufactures and markets specialized products used by medical professionals and researchers around the globe to diagnose coagulation disorders and develop new products to improve patient outcomes. For more information, visit www.precisionbiologic.com.
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For more information, contact:
Elaine Benoit, Precision BioLogic