Procyon BioPharma
This article was originally published in The Gray Sheet
Executive Summary
Escrowed funds of $15.3 mil. are released to the Montreal-based diagnostic and biopharmaceutical developer following a review of the final prospectus by Canadian regulatory authorities, the company announces. The action had been taken following the April 11 completion of a $20.4 mil. offering consisting of 7.8 mil. shares of common stock and 3.9 mil. purchase warrants. Proceeds will go toward the development of Procyon's core technologies and the acquisition of new technologies. Current R&D initiatives include evaluation of the ColoPath non-invasive screening test for colorectal cancer
You may also be interested in...
Parkinson’s Results Further Sweeten AbbVie’s Acquisition of Cerevel
Cerevel, which AbbVie is spending $8.7bn to acquire, unveiled topline results from the TEMPO-3 study of tavapadon, which an analyst said represents potentially a $1bn opportunity.
FDA’s New Dataset Aims To Assist Labs In Assessing Medical Device Biocompatibility
The US FDA’s device center has unveiled a new public dataset designed to assist chemistry laboratories in ensuring the robustness of chemical characterization methods used to assess the biocompatibility of medical devices.
Sanofi Prepares Pulmonologists As Dupixent Nears COPD Finishing Line
The French drugmaker has identified education as a key challenge ahead of its June action date for the huge-selling IL4/IL-13 inhibitor in the lung condition. An approval would make it the first biologic for the disease.