Hygeia Holdings Inc., Novopharm Ltd., Novopharm Biotech Inc. deal

Novopharm Ltd. completed the acquisition of 34.8 million common shares (71 percent) of HYG in exchange for Novopharm's human monoclonal antibody assets and extinguishment of substantially all of HYG's US$2 million debt to the Scarborough, Ontario, company. The companies will combine their MAb businesses, which are developing cancer therapies.

HYG has been renamed Novopharm Biotech Inc. (Scarborough), which last week began trading on the Vancouver stock exchange under the symbol NVO. ...