ARTICLE | Company News

Amorfix deal

March 19, 2012 7:00 AM UTC

Amorfix exercised its 2005 option to acquire the superoxide dismutase 1 (SOD1) technology it had licensed from Amorfix's CSO Neil Cashman. Cashman will receive 444,444 units, with each unit comprising a share of Amorfix and a three-year warrant to purchase a share at C$$0.50. The warrants also expire if the volume-weighted average price of the company's shares exceeds C$1 for 20 consecutive days, following a four-month holding period. Amorfix is using the technology, which includes three issued patents, to develop a diagnostic for amyotrophic lateral sclerosis (ALS). The company said it is formatting the technology to make it amenable to high throughput screening. ...