Merus Announces $27 Million Bought Deal

Merus Labs International Inc. (TSX: MSL, NASDAQ: MSLI) has entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp. and Clarus Securities Inc. to purchase, on a bought deal private placement basis, 14,250,000 subscription receipts of the company at a price of $1.90 per Subscription Receipt, for aggregate gross proceeds of $27,075,000.
According to the company news:

The 2015 annual report includes several sections featuring ARM member company perspectives, highlighting important focus areas for the sector:

• The partnering and dealmaking environment, with commentary from Cellular Dynamics International (a FUJIFILM company), Novartis and Voyager Therapeutics, Inc.
• Europe’s regenerative medicine and advanced therapy sector, with commentary from Cellectis, Celyad and Bone Therapeutics.
• CAR-T and adoptive T-cell therapies, with commentary from Juno Therapeutics and Novartis.
• Gene editing technologies, with commentary from Cellectis, Precision BioSciences and Sangamo BioSciences.

Morrie Ruffin, ARM’s managing director commented:

This past year was a watershed in terms of the amount of money raised by gene and cell therapy companies, as well as the vote of confidence in the sector from large pharma and large-cap biotech companies, visible in the record number of investments and high-value corporate partnerships. We recognize, however, that the financing environment has changed significantly since Q3 2015 and the greatest need now is to continue to show steady, meaningful clinical progress in areas of significant unmet medical need.

Click here to view the full press release.