Bradmer Pharmaceuticals Inc. Completes $23.1 Million Unit OfferingJune 22, 2007
Bradmer Pharmaceuticals Inc. (TSX:BMR) completed a public offering of 5,786,869 units, at a purchase price of $4.00 per unit, for gross proceeds to the company of $23,147,476. The units were sold through a syndicate of underwriters led by Dundee Securities Corporation and including Blackmont Capital Inc., Clarus Securities Inc., Versant Partners Inc. and Orion Securities Inc. Each unit consisted of one common share of the company and one-half of one common share purchase warrant. Bradmer intends to use the net proceeds of the offering to fund the further development of its lead drug, Neuradiab, including, assuming receipt of U.S. Food and Drug Administration and other requisite regulatory approvals, the company’s proposed Phase III clinical trial of Neuradiab in the management of patients with glioblastoma multiforme (GBM), as well as for general corporate purposes. GMB is a particularly aggressive form of brain cancer.
Wildeboer Dellelce LLP acted for Bradmer in connection with the offering with a team that included Perry Dellelce, James Brown and Anndra Schwartz (corporate/securities).
Bradmer Pharmaceuticals Inc.
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