Navigation Links
Labopharm announces closing of US$20 million public offering of units
Date:2/18/2010

LAVAL, QC and PRINCETON, NJ Feb. 18 /PRNewswire-FirstCall/ - Labopharm Inc. (TSX: DDS; NASDAQ: DDSS) today announced the closing of its previously announced underwritten public offering of 11,764,706 units. The units were sold at a price of US$1.70 per unit for gross proceeds of US$20 million. Net proceeds were US$18,150,000 after deducting underwriting discounts and commissions, and estimated offering expenses.

The Company expects to use the net proceeds from the offering for working capital and other general corporate purposes, including, but not limited to, supporting the commercialization of OLEPTRO(TM) in the United States, as well as its other existing and new product candidates, and financing its clinical development and regulatory costs of existing and new product candidates.

Each unit in the offering is comprised of one of the Company's common shares and a warrant to purchase 0.5 of a common share. Each whole warrant entitles the holder to acquire one common share of the Company upon payment of US$2.30 per share, exercisable at any time during the period beginning six months after the date of issuance and ending three years following the date of issuance.

Deutsche Bank Securities acted as the sole book-running manager and Canaccord Adams, Dundee Capital Markets and Versant Partners acted as co-managers for this offering.

Copies of the final prospectus supplement and accompanying prospectus relating to this offering, when available, may be obtained by contacting Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey 07311-3988, telephone: 1-800-503-4611.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Labopharm Inc.

Headquartered in Laval, Canada with US offices in Princeton, New Jersey, Labopharm is an emerging leader in optimizing the performance of existing small molecule drugs using its proprietary controlled-release technologies. The Company's lead product, a unique once-daily formulation of tramadol, is now available in 17 countries around the world, including the U.S., Canada, major European markets and Australia. Its second product, OLEPTRO(TM), a novel formulation of trazodone for the treatment of major depressive disorder in adults, has received regulatory approval in the U.S. and is under regulatory review in Canada. Labopharm has initiated the European regulatory approval process for its third product, a twice-daily formulation of tramadol-acetaminophen. The Company also has a pipeline of follow-on products in both pre-clinical and clinical development.

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events, including statements concerning the Company's expectations related to the timing and closing of the offering of units. These forward-looking statements involve risks and uncertainties, many of which are beyond the Company's control, including risks and uncertainties relating to the completion of the contemplated offering of units. Actual events could differ materially from those projected herein and depend on a number of risks and uncertainties. For additional disclosure regarding these and other risks faced by Labopharm Inc., see the disclosure contained in its public filings in the U.S. with the Securities and Exchange Commission (SEC) and in Canada with the Canadian Securities Administrators (CSA), available on the Investor Relations section of the Company's website at www.labopharm.com and on the SEC's website at www.sec.gov and on the CSA's website at www.sedar.com. Investors are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, the Company undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events, or circumstances or otherwise.

OLEPTRO(TM) is a trademark of Labopharm Inc.

SOURCE Labopharm Inc.


'/>"/>
SOURCE Labopharm Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. Labopharm announces pricing of US$20 million public offering of units
2. Labopharm settles $1 million draw down under standby equity distribution agreement
3. Labopharm Initiates Regulatory Approval Process for Twice-Daily Tramadol-Acetaminophen in Europe
4. Labopharm Enters Into CAD$25 Million Standby Equity Distribution Agreement
5. Labopharm Reports Results for Third Quarter Fiscal 2009
6. Labopharm to present data on its novel trazodone formulation at three upcoming international medical meetings
7. Labopharms response for novel trazodone formulation accepted by FDA as complete - Designated as Class 2 resubmission
8. Labopharm submits response to FDA for novel antidepressant
9. Labopharm Reports Results for Second Quarter Fiscal 2009
10. Labopharm to present at Canaccord Adams 29th Annual Global Growth Conference
11. Labopharm to host conference call Friday, August 7, 2009 at 8:30 a.m. (ET)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... October 13, 2017 , ... While it’s often important to ... Fortunately, an inventor from Austin, Texas, has identified a solution. , She developed a ... or restricted lighting. As such, it eliminates the need to turn on a light ...
(Date:10/13/2017)... Vegas, Nevada (PRWEB) , ... October 13, 2017 , ... ... 7® Hemp CBD Oil utilizing Purzorb™ technology. Applying the Purzorb™process to full spectrum CBD ... dose required and providing a CBD form that can be easily incorporated into liquid ...
(Date:10/13/2017)... Shelton, CT (PRWEB) , ... October 13, 2017 , ... ... and long-term care services, staged a mock evacuation of the facility as part of ... Department, Shelton Fire Department, Echo Hose EMS and Shelton City Emergency Manager, as well ...
(Date:10/13/2017)... ... ... Ellevate Network, the leading network for professional women, brought together some of ... their inaugural Summit in New York City in June. The event was livestreamed with ... 3 million. To watch the Mobilize Women video, click here . , ...
(Date:10/13/2017)... ... October 13, 2017 , ... Talented ... the lowdown on sciatica in a new episode of "Success Files," which is ... events and innovation and investigates each subject in-depth with passion and integrity. , ...
Breaking Medicine News(10 mins):
(Date:9/22/2017)... , Sept. 22, 2017 AVACEN Medical ... device is now successfully helping those with the widespread ... Fibromyalgia diagnosed Amanda in Essex, England ... and washing my hair, experiencing no sleep at all, ... painful spasm… I cannot recommend [the AVACEN 100] enough, ...
(Date:9/18/2017)... KALAMAZOO, Mich. , Sept. 18, 2017 ... , and OptiMed Specialty Pharmacy of Kalamazoo, ... offer a strategic hub service that expedites and streamlines ... personal spirometer, Spiro PD 2.0, and wellness management services.  ... is a medical device used to measure lung function ...
(Date:9/12/2017)... and NEW YORK , Sept. 12, 2017 ... performance ratings for global supply chains, has published the first annual edition ... CSR performance of more than 20,400 companies evaluated by EcoVadis, based on ... 2015 and 2016. ... EcoVadis Global CSR Risk & Performance Index ...
Breaking Medicine Technology: