Business
Arius announces fiscal 2006 year-end results
Arius announces fiscal 2006 year-end results.
About this update from Affinity Metals Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Jan. 26 /CNW/ - ARIUS Research Inc. (\"ARIUS\" or the \"Company\")\n(TSX: ARI), today announced its financial results for the year ended\nNovember 30, 2006. All amounts are in Canadian dollars, unless otherwise\nindicated.\n\n\nDuring the year ended November 30, 2006, ARIUS significantly improved its\nfinancial position, received validation of its technology and strengthened its\nmanagement team by:\n\n\n- Completing a $26.2 million private placement;\n- Licensing a lead antibody program to Genentech, Inc. (\"Genentech\")\n (NYSE: DNA) for an upfront licensing fee, milestone payments based on\n progress through clinical development and royalties on net sales;\n- Signing a three-year collaboration to look for novel cancer\n treatments with Takeda Pharmaceutical Company Limited (\"Takeda\")\n (Tokyo Stock Exchange: 4502), for an upfront technology access fee of\n US $2.0 million, research support payments and milestone payments\n based on progress through clinical development plus royalties on net\n sales for any licensed product;\n- Securing, and later repaying, a convertible bridge loan facility in\n the amount of US $2.0 million;\n- Strengthening the management group through the addition of a Chief\n Financial Officer, Chief Medical Officer and a Vice President of\n Research;\n- Receiving notice from the United States Patent and Trademark Office\n of one patent grant and six Notices of Allowance during 2006 covering\n the antibody programs for drug candidates to CD63, CD44, CD59, and\n MCSP targets;\n- Receiving notification from PDL BioPharma that a new cohort of\n antibodies have been designated as Lead Candidates and the\n Collaboration Agreement has been extended to work on these products.\n- Being selected as one of the top 10 Canadian Life Sciences Companies;\n and\n- Graduating to the Toronto Stock Exchange (\"TSX\").\n\n\nSIGNIFICANT ACHIEVEMENTS DURING FISCAL 2006\n\n\n-------------------------------------------\n\n\nPrivate Placement\n\n\nOn February 28, 2006 and March 3, 2006, under the terms of an agency\nagreement (the \"Agency Agreement\"), the Company completed a private placement\nof units (the \"Offering\"). Under the Offering, the Company agreed to issue\nunits (the \"Units\") at a price of $0.80 per Unit. Each Unit consisted of one\nCommon Share and one Common Share purchase warrant (the \"Pu...