Edmonton, Alberta-based Medwell Capital Corp. (TSX-V: MWC) has increased its stake in Montréal’s Mimetogen Pharmaceuticals Inc., a developer of treatments for neurodegenerative diseases of the eye. In total, Medwell will have invested $2.8 million and will own 11.3% of the company on a fully diluted basis. Medwell, a provider of capital and advisory services to the healthcare industry, is a portfolio company of buyout firm Birch Hill Equity Partners. Mimetogen is backed by venture capital firms, including iNovia Capital and VIMAC Ventures.
Medwell Increases Investment in Mimetogen
EDMONTON, July 18, 2013 /CNW/ – Medwell Capital Corp. (TSX-V: MWC) today announces that its wholly owned Medwell Healthcare Investments Limited Partnership (“Medwell LP”) is increasing its previously disclosed new investment in Mimetogen Pharmaceuticals Inc. (Mimetogen”) from $400,000 to $800,000. In total, Medwell LP will have invested a total of $2.8m and will own 11.3% of Mimetogen on a fully diluted basis.
Mimetogen today announced that it has entered into a transaction with Bausch + Lomb in respect of its MIM-D3 technology for the treatment of dry eye syndrome. For details please see Medwell’s website, or Mimetogen’s website at www.mimetogen.com
About Medwell Capital Corp.
Medwell Capital Corp. is a Canadian-based investment and advisory firm. For further information please visit www.medwellcapital.com
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