PureCell Technologies raises $14.5 million toward development of Montmagny laboratory

On April 21, 2008, PureCell Technologies, a Canadian pharmaceutical company specialized in the development of prescription botanical drugs, announced that it had closed a financing of $14.5 million from about a dozen investors toward the creation of a 15,000 square foot laboratory in Montmagny, Québec.

Investors include Trimel Investments, FIER Montmagny-L'Islet and other private investors.

PureCell Technologies develops, manufactures and commercializes active complex ingredients from agricultural sources and aims to bring to the market a first line of prescription botanical drugs used in the treatment of psoriasis and ulcerative colitis.

PureCell was advised in this financing by François Duchesneau, René Roy, Mélanie Méthé and Sophie Lessard Berger of Fasken Martineau.