General News

by Sophiris Bio News Release

In: General News

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Warburg Pincus, a leading global private equity firm focused on growth investing, has agreed to invest an additional CDN $8.3 million in Protox Therapeutics Inc.

With this subsequent CDN $8.3 million, Warburg Pincus has agreed to purchase an additional 20,833,333 units of Protox on the same terms as the initial investment. Upon the closing of the Subsequent Investment, Warburg Pincus will hold 66,666,666 common shares (approximately 40.7% of the Company’s outstanding shares) and 40,000,000 share purchase warrants.

Dr. Lars Ekman, Executive Chairman and President said, “We are very pleased to receive this continued and meaningful support from Warburg Pincus. This additional capital will be utilized to drive development of PRX 302, our novel therapy for the treatment of benign prostatic hyperplasia.”

Warburg Pincus advises that the investment in Protox is being made as a strategic investment and that the firm may increase or decrease its investment, directly or indirectly, in Protox from time to time, depending on market conditions or any other relevant factors.

Warburg Pincus has more than $30 billion in assets under management, and its active portfolio of more than 125 companies is highly diversified by stage, sector, and geography.