DLA Piper Canada advising on seed financings for emerging companies in the technology and biotech sectors
DLA Piper Canada's Startups, Emerging Companies and Technology group has advised a number of up-and-coming companies in the technology and biotech sectors on corporate finance transactions intended to help them reach their strategic goals. In the past three months the firm has assisted with the following seed financings and private placements:
Lactiga, Inc.: advised on a private placement of unsecured convertible promissory notes for gross proceeds of up to US$1,200,000. Lactiga, Inc. is an award-winning biotherapeutics company developing anti-infective biologics.
Saloneverywhere Incorporated: advised on an initial pre-seed investment financing of common shares for gross proceeds of CAD$400,000. Saloneverywhere Incorporated was founded to develop and build an online network for the professional beauty industry.
Pulmonem Inc.: advised on an initial seed financing round and an anticipated private placement of shares for total gross proceeds of up to CAD$5,000,000. Pulmonem Inc. was founded to demonstrate the effectiveness and safety of a reformulated and patented version of Dapsone a generic drug to arrest the development of inflammation caused by COVID-19 and help prevent hospitalization of those who become infected.
Triple Hair Inc.: advised on a private placement offering of units for aggregate gross proceeds of over $1 million, which was completed in connection with the closing of a reverse takeover transaction with Innovahair Inc., in which the shareholders of Triple Hair Inc. sold their shares in the company in consideration for shares of Innovahair Inc. Triple Hair Inc. is a clinical-stage Canadian biotechnology company specialized in the development of innovative treatments for alopecia.
Quantum Pigeon Technologies Inc.: advised on an initial seed financing round of unsecured convertible promissory notes for gross proceeds of US$2,200,000. Quantum Pigeon Technologies Inc. is the first premium messaging and monetization app designed for influencers and content creators, set to go live in 2021.
eWebinar Labs Inc.: advised on initial financing rounds of common shares. eWebinar Labs Inc. provides an automated webinar solution, set on a schedule, which combines pre-recorded video with real-time interactions and live chat to deliver a delightfully engaging experience for attendees.
Spring IIC Investment No. 2 Ltd.: advised on an investment in Indiegraf Inc.’s convertible note seed financing. Indiegraf Inc. was the winner of Spring Activator’s 2020 Impact Investor Challenge, for which it received a CAD$100,000 investment via Spring IIC Investment No. 2 Ltd.
From our Startups, Emerging Companies and Technology practice, Ted Maduri and Grace Latimer advised on the Lactiga, Saloneverywhere and Pulmonem transactions, Ted Maduri and Mackenzie Clark advised on the Triple Hair reverse takeover transaction and private placement, Michael Reid advised on the Quantum Pigeon and eWebinar transactions, and Morgan McDonald advised on the Spring competition investment.
With lawyers across Canada and globally, DLA Piper is strategically positioned to serve and support emerging growth companies wherever they do business. In today's challenging environment, we provide a range of strategic legal services to emerging companies that are designed to assist businesses at every stage of their life cycle. We work with many of the world's leading startups and emerging companies, offering strategic advice on corporate transactions, IP protection, commercial contracts, company structuring and formation, regulatory compliance, advocacy and litigation, and employment matters. Visit our Growing your Canadian Business page or DLA Piper's Accelerate site for practical insight and actionable suggestions designed to help you grow your business at every stage of its life cycle.
