Current Investments
Spectral Diagnostics
TSX: SDI
- 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
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
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/
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Bioniche Life Sciences Inc.
TSX: BNC
Medwell Capital invested $250,000 in Bioniche Life Sciences Inc. (TSX: BNC), a public company developing proprietary cancer therapies with revenues from marketed products in human and animal health. Medwell Securities also provided advisory services to Bioniche as part of its recent $20 million financing.
To learn more please visit: http://www.bioniche.com/
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Mimetogen Pharaceuticals
Private Company
Medwell Capital Corp. has committed to invest up to $2,000,000 in Mimetogen Pharmaceuticals Inc. (“Mimetogen”), a privately-held, clinical-stage company developing a treatment for dry eye disease. Medwell Capital participated in a Series B equity financing with existing Mimetogen investors, iNovia Capital, MSBi Valorisation and VIMAC Milestone Medica.
Phase II Clinical Trial of MIM-D3 for Dry Eye Disease
Mimetogen’s lead drug candidate for the treatment of dry eye disease, MIM-D3, is a small molecule mimetic of nerve growth factor (NGF). NGF is a naturally occurring protein in the eyes that is responsible for the maintenance of corneal nerves and epithelium, mucin and tear production. In contrast to most other products in development or on the market, MIM-D3 is designed to quickly and directly improve the quality of the tears produced by the eyes whilst reducing symptoms of chronic burning and stinging. Dry eye disease is estimated to be a $1 billion US market for which there is currently only one FDA-approved treatment.
Mimetogen is currently enrolling patients in a Phase II randomized, double-masked, multi-center, placebo-controlled trial designed to evaluate the safety, tolerability and efficacy of MIM-D3 in improving the signs and symptoms of dry eye.
About Dry Eye Disease
Dry eye disease is one of the most common ophthalmic problems, with an estimated 30 million people in North-America suffering from it and a worldwide prevalence closely paralleling that of the United States. Dry eye is a chronic multifactorial disease of the tears, the ocular surface and the adjacent neurological tissue that results in symptoms of discomfort, visual disturbance and tear film instability that may lead to permanent damage and scars to the ocular surface.
About Mimetogen Pharmaceuticals
Mimetogen Pharmaceuticals, Inc. began operations in 2006, developing the use of peptidomimetics as novel approaches to treat diseases with high unmet medical needs. The underlying technology has been developed at McGill University and the Lady Davis Institute for Medical Research in Montréal. Please visit the corporate website at www.mimetogen.com.
For further information please click here.