LAVAL, QC – California Capital Equity, LLC, has increased its equity position in ProMetic Life Sciences exercising 44,791,488 share purchase warrants at a price of $0.47 per share for total proceeds of $21,051,999.36.
The venture capital firm is based in LosAngeles, CA, and specializes in providing growth and development capital to start-up through mezzanine stages. The firm’s equity and debt investments are typically in small and medium sized companies.
It first invested in ProMetic in 2008.
“Our increased equity position in ProMetic represents a long term and strategic investment for us,” said Dr. Patrick Soon-Shiong, CEO of California Capital Equity. “We, through other investment vehicles, also have an on-going partnership with ProMetic in relation to IVIG and anticipate further collaborations going forward,” Soon-Shiong adds.
He cited the company’s robust proprietary therapeutic platforms and promising growth potential as key factors behind the firm’s latest investment.