LAB International plans IPO for LAB Research unit in Canada via Desjardins, Orion

By Ronda Fears

Memphis, May 31 - Quebec's LAB International Inc. announced Wednesday plans to take public its subsidiary, LAB Research Inc., a contract research organization, in an initial public offering in Canada via joint lead managers Desjardins Securities Inc. and Orion Securities Inc.

Versant Partners Inc., Westwind Partners Inc., Jennings Capital Inc., Paradigm Capital Inc. and Oppenheimer & Co., Inc. also will be part of the syndicate.

Laval, Quebec-based LAB International said it will seek shareholder approval for this transaction at a special stockholder meeting in Montreal scheduled June 26.

Through its LAB Pharma subsidiary, the company 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, chronic obstructive pulmonary disease, or COPD, and growth hormone deficiencies.

LAB Research is a profitable and growing contract research services division with clients in Canada, the United States, Denmark and Hungary.

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