Hygeia Holdings Inc. announced that it has engaged Marleau,Lumire Securities Inc. for a private placement of its stock,which trades on the Vancouver Stock Exchange under thesymbol HYG.

Marleau Lumire will use its best efforts to place specialwarrants exercisable as a total of 2 million units at C$1.50(U.S.$1.18) per unit, with the expectation that the commonstock will then be listed on the Montreal Stock Exchange, saidRonald Brown, president and chief operating officer of the SanDiego company. The transaction could result in gross proceedsof C$3 million (U.S.$2.36 million). The units will consist of onecommon share and one non-transferable share purchasewarrant. (Two warrants allow the holder to purchase a commonshare at C$1.75 per share for two years.)

Hygeia Holdings' wholly owned subsidiary, HygeiaPharmaceuticals, also based in San Diego, submitted aninvestigational new drug (IND) application to the FDA on April1 for Monopharm-C, its human monoclonal antibody fortreating colorectal cancer. -- Jennifer Van Brunt

(c) 1997 American Health Consultants. All rights reserved.

No Comments