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SQI in Can$7m private placement:

This article was originally published in Clinica

Executive Summary

Toronto, Ontario-based SQI Diagnostics has announced a private placement offering of up to Can$7m ($6.6m) of units of the company. Each unit will consist of one share and one half of a share purchase warrant. The holder of a whole warrant will be entitled to acquire one share within two years after completion of the offering. Research Capital and Kinsdale Capital Markets have been appointed as agents of the transaction. SQI develops automated diagnostic systems for high-volume, multiple biomarker testing. Targeting the US$1.4bn autoimmune disease market, the company is expecting to launch its first products for rheumatoid arthritis and thrombosis in 2007.

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