Thallion, Great Point Partners LLC proteomics news
Great Point purchased 80% of TLN's Caprion Proteomics GP subsidiary, which will be renamed Caprion Proteomics Inc. Caprion will retain all of TLN's proteomic assets including the CellCarta proteomics technology platform. TLN will have rights to develop certain undisclosed target candidates derived from CellCarta. Caprion will assume C$22.2 million ($20.7 million) in long-term debt from TLN and will issue C$4.1 million ($3.9 million) in secured subordinated notes to TLN at an interest rate of 9.5% per annum. TLN also will receive 100% of royalties and 50% of milestones made to the newco resulting from TLN's existing license agreements related to the proteomics business. Great Point will make an undisclosed investment in the newco for general working capital purposes. Martin LeBlanc will remain president of Caprion and will gain the title of CEO. The deal is expected to close on July 10. ...