Avicenna Medica Inc. (formerly known as "Intelligene Expressions Inc.") commenced operations providing project management services to multinational pharmaceutical companies and subsequently expanded to include contract biopharmaceutical manufacturing in Edmonton, Alberta.
In October 1999 StoneBridge commenced working with this biopharmaceutical contract manufacturer. During 2000 we advised Avicenna in negotiations with a multi-national pharmaceutical company to in-license a platform technology offering targeted delivery therapy for the treatment of cancer, including a late stage therapy for the treatment of high-grade brain cancer. Subsequently we assisted management develop a detailed and comprehensive business plan and financial model including details regarding existing contract manufacturing operations, size of the brain cancer market, clinical trials, commercialization, R&D, and capital requirements to execute the business plan.
In December of 2000 the StoneBridge group assisted the company reorganize its corporate structure and close a private placement for $1.0 million in February of 2001. During the spring and summer of 2001 we assisted the Company negotiate, conduct due diligence and close the sale of Avicenna to KS Biomedix (LSE: KSB), a U.K. based pharmaceutical company for $90 Million in cash and shares.
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