LAVAL, May 31 /PRNewswire-FirstCall/ - LAB International Inc. (TSX: LAB, Frankfurt: LD9.F, XETRA: LD9.DE) (“LAB”), an integrated drug development company with subsidiaries focused on developing therapies for the inhalation market and on providing contract research services, today announced that LAB Research Inc., its wholly owned subsidiary, has filed a preliminary prospectus with the applicable securities regulatory authorities in each of the provinces in Canada for an initial public offering of its common shares. LAB Research Inc., created for the purpose of this offering, will own the contract research services business of LAB International.
The offering is being made through a syndicate of underwriters co-led by Desjardins Securities Inc. and Orion Securities Inc. and including Versant Partners Inc., Westwind Partners Inc., Jennings Capital Inc. and Paradigm Capital Inc. Oppenheimer & Co., Inc. will participate as a selling group member in the offering of common shares on an exempt basis in the United States.
LAB International will seek shareholder approval for this transaction, which will be described in more detail in a management information circular to be sent to its shareholders. The circular will include a special resolution to be voted upon at the annual and special meeting of shareholders to be held in Montreal at the Centre Sheraton on June 26, 2006 at 10:00am.
A copy of the preliminary prospectus is available at www.sedar.com.
About LAB International
LAB International (LAB Pharma and LAB Research) is an integrated drug development company. LAB Pharma is focused on the growing multi-billion dollar inhalation market. Its lead product, for the treatment of breakthrough cancer pain, is a fast-acting Fentanyl formulation delivered using the Company’s TAIFUN® dry powder inhaler platform. Its pipeline also includes therapeutics for asthma, COPD, and growth hormone deficiencies. LAB Research is a profitable and growing contract research services division supporting its clients base from state-of-the-art facilities in Canada, the US, Denmark and Hungary.
LAB’s common shares trade on The Toronto Stock Exchange (“TSX”) under the symbol “LAB”, on the Frankfurt Regulated Unofficial Market under the symbol “LD9.F” and on XETRA under the symbol “LD9.DE” with 71.9 million shares outstanding.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of LAB International Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
Source: LAB INTERNATIONAL INC.
