Labopharm completes $40.4 million bought deal

On November 8, 2001, Labopharm Inc., completed a bought deal with a syndicate of Canadian brokers formed of CIBC World Markets Inc., National Bank Financial Inc. and TD Securities Inc. and lead by Research Capital Corporation for an offering of $35.1 million of its common shares. The company granted the underwriters an over-allotment option to purchase up to an additional 780,000 common shares, for a total offering price of approximately $40.4 million, which they exercised in full on November 29. Labopharm is an international pharmaceutical company specializing in the development of drugs using advanced controlled-release technologies. The major portion of the proceeds of this offering will be used for the financing of scientific research and experimental development of the company's technologies.

Fasken Martineau acted for Labopharm with a team managed by partner Louis-François Hogue which included Marie-Josée Neveu, Catherine Isabelle and Jan-Fryderyk Pleszczynski.