Financings in Brief: Angiotech Pharmaceuticals
This article was originally published in The Gray Sheet
Executive Summary
Angiotech Pharmaceuticals: Grosses $22 mil. from initial public offering of 2.2 mil. common stock shares at $10 each. The Vancouver, British Columbia-based pharmaceutical concern signed a co-exclusive, worldwide licensing agreement in July allowing Boston Scientific and Cook to use the firm's paclitaxel drug technology for stent coatings and with other endoluminal devices ("The Gray Sheet" July 14, I&W-1). Proceeds from the offering are tabbed for "core technology research, product research and product development," Angiotech states. Underwriters First Marathon Securities Limited, Midland Walwyn Capital, and Goepel Shields & Partners hold an overallotment option for 330,000 additional shares...