Canadian IPO: Med BioGene Inc. (MBGI)
Med BioGene Inc. has filed for an initial public offering in the United States. Technically this may not be a formal IPO because it trades in Canada where the company is based. We do not have the exact terms, but…
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On December 24, 2009, the closing price of common shares on the TSX Venture Exchange was C$6.00 per share, or US$5.66 per share and after giving effect to an assumed 1-for-50 reverse stock split of its outstanding common shares that it expects to effect prior to or upon the date of this prospectus. The new shares will trade on the NASDAQ Capital Market under the stock ticker “MBGI” and it plans to move its listing from the TSX Venture Exchange to the Toronto Stock Exchange under the symbol “MBI”.
Med BioGene is a life science company focused on the development and commercialization of genomic-based clinical laboratory diagnostic tests for cancer. It is seeking to develop and commercialize genomic-based tests that characterize tumors on a molecular level to provide personalized and clinically relevant information to improve patient treatment and reduce health care costs. Its initial focus is on lung cancer and it expects to launch its first test, LungExpress Dx, in the United States in 2010.
JON C. OGG
DECEMBER 29, 2009
Contact [email protected] for any questions or corrections.
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