Waratah Pharmaceuticals Inc. Completes its IPO

On September 19, 2000, Waratah Pharmaceuticals Inc. (Waratah) closed its initial public offering on the Canadian Venture Exchange (CDNX), relating to the issue and sale of common shares. Waratah raised approximately CDN$10 million from the IPO, including the exercise of the over-allotment option.

Waratah is a Canadian biopharmaceutical company focused on developing products for its novel therapy, termed islet neogenesis therapy (INT), for the treatment of insulin deficient diabetes. INT is a fundamentally different approach to islet cell replacement therapy for diabetes than islet cell or pancreas transplantation. Based in Calgary, Waratah also has offices in Lexington, Massachusetts.

Legal advice was provided to Waratah by Fasken Martineau DuMoulin LLP with a team composed of Michel Boislard of the New York City office, Frédéric Despars, Fédéric Cotnoir and Claude Auger (tax) of the Montreal office, Jeffrey M. Larsen of the Toronto office and Melody D. Schalm of the Vancouver office. Yorkton Securities Inc. acted as lead agent for the offering with Canaccord Capital Corporation acting as co-agent. Legal advice to the agents was provided by John Mackay, Michael Bennett and Roger Chouinard of McCarthy Tétrault in Calgary.