ConjuChem Biotechnologies Inc., of Montreal, has entered into an agreement with Colabor Income Fund to provide gross proceeds of approximately $5 million in nondilutive capital. The transaction involves a corporate reorganization to be completed under court supervision. ConjuChem will transfer its assets and liabilities to a newly incorporated subsidiary company, 4523482 Canada Inc. On completion of the transaction, ConjuChem security holders will have exchanged their ConjuChem securities on a one-for-one basis for securities of a parent company of New ConjuChem OpCo. New ConjuChem will carry on ConjuChem's business operations as a public entity. Colabor shareholders will own 100 percent of the shares of the original ConjuChem company.

• MedMira Inc., of Halifax, Nova Scotia, has completed the drawdown against its equity line of credit with YA Global Investments LP. MedMira will use the funds for sales and business development plans. Under the terms, YA Global Investments has purchased 2.2 million shares from MedMira at an average price of C6.4 cents, which is 96.5 percent of the daily volume weighted average price over a 10-day pricing period ending on July 3, for net proceeds of C$142,500.

• Somaxon Pharmaceuticals Inc., of San Diego, said it completed its private placement of about 5.1 million shares priced at $1.05 each and seven-year warrants to buy up to 5.1 million shares for gross proceeds of about $6 million. Somaxon is developing Silenor (doxepin), which is under FDA review.