Labopharm raises $22 million for product launch and R&D

Labopharm Inc is set to complete a $22-million share issue on July 15 to support the commercial launch of its tramadol analgesic and advance development of a new program in the Laval PQ-based firm’s pipeline. The financing is a bought deal by a syndicate of underwriters led by National Bank Financial Inc and including RBC Dominion Securities Inc, Research Capital Corp, CIBC World Markets Inc, Canacord Capital Corp, and Orion Securities Inc (formerly Yorkton Securities Inc). Labopharm is developing a series of drugs based on Contramid, its controlled release technology. Its pipeline of in-house and partnered programs includes four products in clinical trials and four now in preclinical development. The offering will also be used for working capital and general corporate purposes....