MEDICAL BRIEFS

MRC study finds no significant benefit from using dual chamber pacemakers-

A study funded by the Medical Research Council has determined that a single chamber cardiac pacemaker is just as good as the more expensive dual chamber variety. The $5-million health services and clinical trials study involved more than 30 pacemaker centres across Canada, 200 researchers and more than 2,500 patients. The study - entitled Canadian Trial of Physiologic Pacing and led by McMaster Univ's Dr Stuart Connolly - was conducted between 1992 and 1998. A six-year follow-up is planned and will be funded by industry. While patients using the dual chamber model experienced a small reduction in episodes of abnormal heart rhythm, there were also more complications at the time of implantation when compared to the single chamber device. The dual chamber pacemaker is used in 40% of patients and costs $2,500 more than the single chamber model. More than 40,000 pacemakers are implanted annually in Canada....

Genomics One Corp raising $30 million

Laval PQ-based Genomics One Corp is issuing a private placement to raise $30 million, with the proceeds going to complete strategic acquisitions, research and development and the marketing of its True Blue Technology platform, a high throughput color-selection system for rapid identification of cloned DNA. The special warrants are priced at $15 each and will be handled by Dundee Securities Corp, with closing anticipated before June 30. The company went public via an IPO late last year. ...

Queen's Univ spin-off receives up to $1.75 million in venture capital

Two venture capital firms have committed up to $1.75 million in a Queen's Univ spin-off that is developing new methods for modulating fundamental processes than cause pain. The Working Ventures-CMDF Queen's Scientific Breakthrough Fund and Milestone Medica made the investment in Neuroceptor Inc, founded by Dr Greg Ross who is the company's president. Neuroceptor has completed proof-of-principle experiments demonstrating that compounds that can modulate the activity of neurotrophins are effective in preventing pain. They target chronic pain and central nervous system disorders such as Parkinson's disease, Alzheimer's disease and stroke. The company was founded in 1998 with the assistance of PARTEQ, Queen's Univ's technology transfer agent....

Theratechnologies completes two offerings to accelerate development

Montreal's Theratechnologies Inc has completed two offerings worth $31.8 million. The common share offering of 2.5 million shares raised $21 million, while a private placement with an institutional investor raised $10.8 million for its affiliated company, Ecopia BioSciences Inc. The proceeds of the common share offering will be used to accelerate development of its core products, ThGRF 1-44, a growth hormone releasing factor analogue, and PDT, an ex vivo photodynamic cell therapy system. The private placement will allow Theratechnologies to purchase 1.2 million shares of Ecopia for delivery to the investor. Ecopia will then be in a position to develop a wide array of genomics products and accelerate development of bioactive molecules from natural sources....

Loeb Institute opens new protein chemistry centre

Ottawa's Loeb Health Research Institute (LHRI) has officially opened its new $13.8-million Regional Protein Chemistry Centre for the discovery and development of treatments and therapies relating to a wide range of diseases. The Centre is located in a new 1,000-sq-m expansion of the LHRI will explore Alzheimer's, artherosclerosis, obesity, diabetes, cancer, and AIDS. Research will focus on proprotein convertases, molecules recently discovered by LHRI director Dr Michel Chrétien and Dr Nebil Seidah. The new facility was funded by a variety of organizations including the Ontario R&D Challenge Fund, the Canada Foundation for Innovation, the Ontario Innovation Trust the Region of Ottawa-Carleton, Glaxo Wellcome, CpG ImmunoPharmaceuticals, Convertase Inc and others....