Arius Research Inc. Completes Initial Public Offering.Business Editors TORONTO--(BUSINESS WIRE)--March 23, 2000 Arius Research Inc. announced today that it has completed an initial public offering resulting in gross proceeds of $5 million through Thomson Kernaghan & Co. LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . 1.0 million common shares and 1.0 million Class B warrants were issued under the public offering. Proceeds from the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. together with previous private placements have resulted in gross proceeds of approximately $7.7 million. There are now 4.05 million common shares, 2.85 million Class A warrants and 1.2 million Class B warrants issued and outstanding. Each Class A warrant will entitle the holder thereof to purchase one Common Share at a price of $4.00 at any time on or before October 31, 2002. Each Class B warrant will entitle the holder thereof to purchase one Common Share at a price of $7.50 at any time on or before March 31, 2003. Arius Research Inc. is a biotechnology company that is developing a class of drugs for individualized in·di·vid·u·al·ize tr.v. in·di·vid·u·al·ized, in·di·vid·u·al·iz·ing, in·di·vid·u·al·iz·es 1. To give individuality to. 2. To consider or treat individually; particularize. 3. cancer therapy. Current research and development activities are focused on production and testing of the company's monoclonal antibodies related to breast cancer and melanoma. These antibody drugs will enable oncologists to treat specific tumours for individual cancer patients. Using its proprietary antibody production process Arius with the assistance of Skye Pharmatech Inc., has produced a library of antibodies that has selective effects on cancer cells. These antibodies are currently being tested in a mouse model of human cancer. Arius intends to expand its research and development activities into other areas through the use of its platform technologies. These other areas include lung cancer lung cancer, cancer that originates in the tissues of the lungs. Lung cancer is the leading cause of cancer death in the United States in both men and women. Like other cancers, lung cancer occurs after repeated insults to the genetic material of the cell. , colon/gastrointestinal cancer, ovarian cancer ovarian cancer Malignant tumour of the ovaries. Risk factors include early age of first menstruation (before age 12), late onset of menopause (after age 52), absence of pregnancy, presence of specific genetic mutations, use of fertility drugs, and personal history of breast and prostate cancer prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. . |
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