Pacific Pharma Technologies acquired by Upstream Biosciences

On August 27, 2007, Upstream Biosciences Inc. announced that it had completed the acquisition of Pacific Pharma Technologies Inc., an early stage biopharmaceutical company with a proprietary technology platform that combines artificial intelligence, advanced computational methods and chemical diversity techniques to discover new drugs. This technology has already generated novel compounds that in laboratory studies demonstrate both human and veterinary potential against major tropical parasitic diseases. Terms of the acquisition include upfront and milestone payments. Further details were not disclosed.

Steven Lukas and Daniel Polonenko of Fasken Martineau advised the shareholders of Pacific Pharma in this transaction.