Organization: MDS Capital

MDS Inc scales back, sharpens core focus

MDS Inc has announced a major overhaul of its various business lines that sees a reduction in its divisions to focus on its core life sciences activity, layoffs of 500 employees and a focus on near-term improvement of financial performance. MDS will retain MDS Pharma Services (contract research), MDS Nordion (molecular imaging and radio-therapeutics) and…

NeuroMed raises $17 million to further clinical trials

NeuroMed Technologies Inc, Vancouver, has bucked the cooling trend in biotechnology financing raised $17 million to take its pain compounds up to the beginning of Phase II clinical trials. Its R&D into neur-onal calcium blockers aims to develop alternative painkillers to morphine and neuroprotective drugs for stroke. The second-round private financing was provided by GrowthWorks…