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Skye accuses Spectral of allegedly running a spoiling campaign to scupper IPO (initial public offering)

This article was originally published in Clinica

Executive Summary

Canadian diagnostics company Skye Pharmatech has filed suit in an Ontario court, claiming that an alleged campaign orchestrated by some of the board of directors of a rival Canadian diagnostic company, Spectral Diagnostics, derailed Skye's initial public offering (IPO) in March. The IPO achieved less than a third of its expected sum - raising just Can+ACQ-1.8 million rather than the predicted Can+ACQ-6.5 million. Spectral has vehemently denied the claim and says that it will fight the lawsuit vigorously.

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