ARTICLE | Company News

Hemosol, MDS deal

May 10, 2004 7:00 AM UTC

The companies completed a transaction and reorganization that will provide HML with $16 million in cash and allow MDS to benefit from HML's unused tax assets. Under the deal, Hemosol Inc. changed its name to LPBP Inc. and spun out its assets into a limited partnership controlled by a new company called Hemosol Corp. LPBP retains a 7% interest in the limited partnership. HML shareholders received one share of LPBP for each share of HML held prior to the deal. The new LPBP shares will not be publicly traded. ...