BURNABY, BC, Oct. 26 /CNW/ - Chromos Molecular Systems Inc. (“Chromos”) (TSX:CHR) announced today that it has entered into a definitive agreement under which it will acquire Targeted Molecules Corporation (“TMC”), a privately held San Diego based biotechnology company focused on the research and development of two antibody product candidates for treatment of multiple sclerosis (MS) and acute thrombosis. Concurrently with the acquisition Chromos will complete a private placement to raise not less than $6.0 million, the proceeds of which will be used to finance operations. The private placement will be led by Neuro Discovery Limited Partnership (“NDLP”). Additional participants in the private placement are expected to include current shareholders of Chromos and TMC, and the lenders under the $2.0 million bridge loan facility which closed earlier this year.
