This is the largest purchase ever made by the 90-year-old, Paris-based Ipsen. The deal is a 77 per cent premium over Clementia’s 30-day weighted average price, but the company’s stock rose by nearly the same amount on news of the deal, closing at $26.06 on Monday. (Globe and Mail)
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This is the largest purchase ever made by the 90-year-old, Paris-based Ipsen. The deal is a 77 per cent premium over Clementia’s 30-day weighted average price, but the company’s stock rose by nearly the same amount on news of the deal, closing at $26.06 on Monday. (Globe and Mail)
Talking point: The deal provides a strong return on investment for the Business Development Bank of Canada (BDC), which will get at least US$137 million for its 14.5 per cent stake in the company. It bought into Clementia in 2015 for about US$20 million. BDC’s healthcare venture arm has seen several recent exits, including Vancouver-based Zymeworks’ $85-million IPO in June 2017. The Crown corporation intends to focus even more on Canada’s biotech sector with a new standalone biotech VC fund led by former BDC partners Jean-François Pariseau and Dion Madsen.
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