Current Investments
Spectral Diagnostics
TSX: SDI
Investment: December 17, 2009
- Under the terms of the agreement Medwell Capital* invested $12 million and owns 30,000,000 Common Shares and 15,000,000 Warrants
- The investment represents approximately 39.6% of Spectral’s issued and outstanding Common Shares
- Includes a three year $3 million service whereby Medwell Capital* will provide clinical, regulatory and capital market consulting services to Spectral
- On March 3, 2010 Spectral Received FDA approval to Initiate the Pivotal Phase III Trial and Closed the Financing for $19.5 Million.
- Spectral is a leader in the fight against sepsis. Sepsis is a life-threatening illness which results in approximately 250,000 deaths in the U.S. each year and accounts for approximately 1 in 10 ICU admissions at an annual cost to the US healthcare system of $17 billion. Sepsis is the 10th most common cause of death in the US, ahead of acute heart attacks and breast cancer.
- For further information please visit http://www.spectraldx.com/
*Formally named Medwell Capital Corp.
Stonegate Agricom Ltd.
TSX: ST
Investment: April 23, 2010 Medwell Capital completed its participation in the Initial Public Offering (“IPO”) of Stonegate.
Under the terms of the IPO, Medwell Capital acquired 250,000 units of Stonegate at a price of $1.00 per Unit. Each Unit consists of one common share of Stonegate and on half of one common share purchase warrant (each whole common share purchase warrant, “Warrant”) entitling the holder to acquire one common share of Stonegate at a price of $1.50 per common share for a period of three years following the closing of the IPO. The common shares of Stonegate began trading on the TSX under symbol ST and the warrants under the symbol ST.WT on April 28, 2010.
Stonegate is engaged in the business of acquiring, exploring and developing agricultural nutrient projects and is undertaking to explore and assess the potential for the development of its two principal assets, the Mantaro phosphate project located in Peru (the ‘‘Mantaro Project’’) and the Paris Hills phosphate project located in Bear Lake County, Idaho (the ‘‘Paris Hills Project’’). Stonegate has 100% interest in both these projects.
For further information please visit http://www.stonegateagricom.com/
Novation Pharmaceuticals Inc.
Private Company
Investment: June 11, 2010
Medwell Capital purchased a convertible debenture in Novation Pharmaceuticals Inc. (“Novation”), a private company, in the amount of $250,000. The debenture matures on June 10, 2012 and carries a 6% interest rate. Novation focuses on discovering and developing small-molecule therapeutics that modulate messenger RNA (“mRNA”) to treat a broad range of diseases. Novation scientists discovered that it is possible to modulate the stability of mRNA with orally available small molecules, an observation that led directly to the development of their proprietary drug discovery technology, called Quest.
For further information please visit http://www.novation-pharma.com/